Kornitzer Capital Management Inc. KS lifted its holdings in shares of Cavium, Inc. (NASDAQ:CAVM) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 288,204 shares of the semiconductor provider’s stock after buying an additional 17,330 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.42% of Cavium worth $19,004,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Wasatch Advisors Inc. boosted its position in shares of Cavium by 3.9% during the second quarter. Wasatch Advisors Inc. now owns 2,581,155 shares of the semiconductor provider’s stock worth $160,367,000 after buying an additional 98,066 shares during the period. State Street Corp boosted its position in shares of Cavium by 3.4% during the first quarter. State Street Corp now owns 1,370,661 shares of the semiconductor provider’s stock worth $98,221,000 after buying an additional 44,456 shares during the period. Fred Alger Management Inc. boosted its position in shares of Cavium by 36.2% during the second quarter. Fred Alger Management Inc. now owns 1,275,464 shares of the semiconductor provider’s stock worth $79,245,000 after buying an additional 339,019 shares during the period. Royal Bank of Canada boosted its position in shares of Cavium by 3.8% during the second quarter. Royal Bank of Canada now owns 1,025,067 shares of the semiconductor provider’s stock worth $63,688,000 after buying an additional 37,719 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Cavium by 21.6% during the second quarter. Victory Capital Management Inc. now owns 949,954 shares of the semiconductor provider’s stock worth $59,020,000 after buying an additional 168,545 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.
Shares of Cavium, Inc. (NASDAQ CAVM) traded up $7.78 during trading hours on Monday, reaching $76.05. 245,130 shares of the company’s stock traded hands, compared to its average volume of 671,572. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.10 and a current ratio of 2.71. Cavium, Inc. has a 52 week low of $50.81 and a 52 week high of $76.26. The firm has a market cap of $4,694.24, a P/E ratio of 63.21, a P/E/G ratio of 2.52 and a beta of 1.27.
Cavium (NASDAQ:CAVM) last announced its earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.24%. The company had revenue of $251.99 million for the quarter, compared to the consensus estimate of $250.16 million. During the same period in the previous year, the business earned $0.43 EPS. The company’s revenue was up 49.9% on a year-over-year basis. analysts expect that Cavium, Inc. will post 1.3 EPS for the current year.
In other Cavium news, COO Muhammad Raghib Hussain sold 20,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $61.85, for a total transaction of $1,237,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.65% of the stock is owned by insiders.
A number of research firms have weighed in on CAVM. Barclays PLC upgraded Cavium from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 21st. Jefferies Group LLC set a $79.00 target price on Cavium and gave the stock a “buy” rating in a research report on Thursday, October 19th. Raymond James Financial, Inc. restated an “outperform” rating and issued a $75.00 target price on shares of Cavium in a research report on Thursday, September 14th. Stifel Nicolaus restated a “hold” rating and issued a $66.00 target price on shares of Cavium in a research report on Thursday, October 12th. Finally, KeyCorp restated a “hold” rating on shares of Cavium in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $78.00.
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Cavium Company Profile
Cavium, Inc is a provider of integrated semiconductor processors that enable intelligent processing for wired and wireless infrastructure and cloud for networking, communications, storage and security applications. The Company’s products consist of multi-core processors for embedded and data center applications, network connectivity for server and switches, storage connectivity, and security processors for offload and appliance.
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