Cavium Inc (CAVM) Sees Large Decrease in Short Interest

Cavium Inc (NASDAQ:CAVM) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 3,258,222 shares, a decline of 28.7% from the November 15th total of 4,570,938 shares. Based on an average daily trading volume, of 4,377,589 shares, the days-to-cover ratio is currently 0.7 days. Approximately 4.9% of the shares of the company are short sold.

Several brokerages have issued reports on CAVM. BidaskClub lowered Cavium from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Jefferies Group restated a “buy” rating and issued a $40.00 target price on shares of Cavium in a research note on Sunday, November 26th. Susquehanna Bancshares restated a “neutral” rating and issued a $83.00 target price (down from $85.00) on shares of Cavium in a research note on Tuesday, November 21st. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Cavium in a research note on Tuesday, November 21st. Finally, Canaccord Genuity restated a “hold” rating and issued a $85.00 target price (up from $67.00) on shares of Cavium in a research note on Tuesday, November 21st. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $78.41.

Cavium (NASDAQ CAVM) opened at $85.82 on Wednesday. Cavium has a 52-week low of $56.96 and a 52-week high of $88.96. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.27 and a current ratio of 2.87. The company has a market capitalization of $5,793.17, a PE ratio of 77.57, a P/E/G ratio of 3.37 and a beta of 1.36.

Cavium (NASDAQ:CAVM) last posted its earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.02. Cavium had a positive return on equity of 11.16% and a negative net margin of 19.94%. The business had revenue of $251.99 million during the quarter, compared to analysts’ expectations of $250.16 million. During the same period in the previous year, the business earned $0.43 earnings per share. The firm’s revenue was up 49.9% on a year-over-year basis. equities research analysts predict that Cavium will post 1.33 EPS for the current year.

In other Cavium news, VP Anil Kumar Jain sold 8,500 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $85.90, for a total value of $730,150.00. Following the sale, the vice president now directly owns 91,616 shares in the company, valued at $7,869,814.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Vincent P. Pangrazio sold 15,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $77.22, for a total value of $1,158,300.00. Following the completion of the sale, the senior vice president now owns 60,039 shares in the company, valued at $4,636,211.58. The disclosure for this sale can be found here. Insiders own 4.65% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas grew its position in Cavium by 1.3% during the second quarter. Teacher Retirement System of Texas now owns 5,372 shares of the semiconductor provider’s stock worth $334,000 after buying an additional 68 shares in the last quarter. D.A. Davidson & CO. grew its position in Cavium by 3.5% during the second quarter. D.A. Davidson & CO. now owns 3,768 shares of the semiconductor provider’s stock worth $234,000 after buying an additional 129 shares in the last quarter. Profund Advisors LLC grew its position in Cavium by 1.6% during the second quarter. Profund Advisors LLC now owns 14,693 shares of the semiconductor provider’s stock worth $913,000 after buying an additional 236 shares in the last quarter. Geneva Advisors LLC grew its position in Cavium by 3.2% during the second quarter. Geneva Advisors LLC now owns 15,521 shares of the semiconductor provider’s stock worth $964,000 after buying an additional 487 shares in the last quarter. Finally, Virtu KCG Holdings LLC grew its position in Cavium by 4.5% during the second quarter. Virtu KCG Holdings LLC now owns 12,397 shares of the semiconductor provider’s stock worth $770,000 after buying an additional 533 shares in the last quarter.

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About Cavium

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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