Cavium Inc (CAVM) Position Trimmed by Standard Life Aberdeen plc
Standard Life Aberdeen plc cut its holdings in Cavium Inc (NASDAQ:CAVM) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,250,821 shares of the semiconductor provider’s stock after selling 62,544 shares during the period. Standard Life Aberdeen plc owned about 3.23% of Cavium worth $188,674,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of CAVM. SG Americas Securities LLC acquired a new stake in shares of Cavium in the fourth quarter valued at approximately $115,000. Cerebellum GP LLC acquired a new stake in shares of Cavium in the fourth quarter valued at approximately $126,000. American International Group Inc. acquired a new stake in shares of Cavium in the fourth quarter valued at approximately $131,000. US Bancorp DE increased its holdings in Cavium by 201.3% during the fourth quarter. US Bancorp DE now owns 1,657 shares of the semiconductor provider’s stock worth $139,000 after buying an additional 1,107 shares during the last quarter. Finally, World Asset Management Inc acquired a new position in Cavium during the third quarter worth $203,000. Institutional investors own 92.15% of the company’s stock.
In other news, Director Anthony S. Thornley sold 12,500 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $88.50, for a total value of $1,106,250.00. Following the completion of the sale, the director now owns 21,511 shares of the company’s stock, valued at $1,903,723.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Vincent P. Pangrazio sold 8,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $87.19, for a total transaction of $697,520.00. Following the completion of the sale, the senior vice president now directly owns 54,577 shares of the company’s stock, valued at approximately $4,758,568.63. The disclosure for this sale can be found here. In the last three months, insiders sold 353,962 shares of company stock valued at $31,361,100. 4.65% of the stock is currently owned by company insiders.
Cavium (NASDAQ:CAVM) last announced its earnings results on Wednesday, January 31st. The semiconductor provider reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The company had revenue of $260.36 million during the quarter, compared to analysts’ expectations of $260.05 million. Cavium had a negative net margin of 7.00% and a positive return on equity of 14.07%. Cavium’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. equities research analysts predict that Cavium Inc will post 2.05 EPS for the current year.
A number of brokerages recently weighed in on CAVM. Stifel Nicolaus boosted their target price on shares of Cavium from $68.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, February 1st. Benchmark downgraded shares of Cavium from a “buy” rating to a “hold” rating in a report on Monday, November 20th. KeyCorp restated a “positive” rating and set a $90.00 target price (up from $80.00) on shares of Cavium in a report on Thursday, November 16th. They noted that the move was a valuation call. Canaccord Genuity restated a “hold” rating and set a $85.00 target price (up from $67.00) on shares of Cavium in a report on Tuesday, November 21st. Finally, Zacks Investment Research upgraded shares of Cavium from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $79.77.
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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