PNC Financial Services Group Inc. raised its position in Cavium, Inc. (NASDAQ:CAVM) by 9.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,912 shares of the semiconductor provider’s stock after buying an additional 912 shares during the period. PNC Financial Services Group Inc.’s holdings in Cavium were worth $783,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its stake in shares of Cavium by 6.9% in the first quarter. IFP Advisors Inc now owns 1,559 shares of the semiconductor provider’s stock worth $112,000 after buying an additional 101 shares during the period. Solaris Asset Management LLC raised its stake in Cavium by 52.4% in the first quarter. Solaris Asset Management LLC now owns 1,600 shares of the semiconductor provider’s stock valued at $115,000 after buying an additional 550 shares during the last quarter. US Bancorp DE raised its stake in Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock valued at $135,000 after buying an additional 868 shares during the last quarter. First Trust Advisors LP purchased a new stake in Cavium during the first quarter valued at about $274,000. Finally, M&T Bank Corp purchased a new stake in Cavium during the first quarter valued at about $282,000.
Shares of Cavium, Inc. (NASDAQ CAVM) traded down 1.11% during midday trading on Friday, reaching $61.71. 1,010,727 shares of the company traded hands. The company has a 50 day moving average of $65.37 and a 200 day moving average of $68.12. Cavium, Inc. has a 12 month low of $45.63 and a 12 month high of $76.26. The firm’s market capitalization is $4.19 billion.
Cavium (NASDAQ:CAVM) last posted its quarterly earnings data on Wednesday, April 26th. The semiconductor provider reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.09. Cavium had a negative net margin of 26.52% and a positive return on equity of 4.05%. The company had revenue of $229.58 million for the quarter, compared to the consensus estimate of $227.22 million. During the same quarter last year, the company earned $0.25 earnings per share. The company’s revenue was up 125.3% compared to the same quarter last year. On average, equities research analysts predict that Cavium, Inc. will post $2.78 earnings per share for the current fiscal year.
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CAVM has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $78.00 target price (up from $77.00) on shares of Cavium in a research note on Thursday, April 27th. Stifel Nicolaus upped their price target on shares of Cavium from $55.00 to $66.00 and gave the stock a “hold” rating in a research report on Thursday, April 27th. Jefferies Group LLC restated a “hold” rating and set a $73.00 price target (up previously from $69.00) on shares of Cavium in a research report on Thursday, April 27th. Morgan Stanley upped their price target on shares of Cavium from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Finally, MKM Partners reiterated a “buy” rating and issued a $81.00 price objective (up previously from $77.00) on shares of Cavium in a report on Monday, May 1st. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $74.53.
In other Cavium news, SVP Vincent P. Pangrazio sold 15,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $75.73, for a total transaction of $1,135,950.00. Following the transaction, the senior vice president now directly owns 60,039 shares in the company, valued at approximately $4,546,753.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Arthur D. Chadwick sold 40,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $75.14, for a total transaction of $3,005,600.00. Following the transaction, the vice president now owns 75,383 shares in the company, valued at $5,664,278.62. The disclosure for this sale can be found here. Corporate insiders own 4.65% of the company’s stock.
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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