Morgan Stanley reduced its stake in Cavium, Inc. (NASDAQ:CAVM) by 30.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,818 shares of the semiconductor provider’s stock after selling 65,774 shares during the period. Morgan Stanley owned approximately 0.22% of Cavium worth $10,665,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of Cavium during the fourth quarter valued at $2,088,000. Norges Bank purchased a new position in shares of Cavium during the fourth quarter valued at $22,342,000. Quadrature Capital Ltd raised its position in shares of Cavium by 49.4% in the fourth quarter. Quadrature Capital Ltd now owns 36,983 shares of the semiconductor provider’s stock valued at $2,309,000 after buying an additional 12,231 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Cavium by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 335,296 shares of the semiconductor provider’s stock valued at $20,936,000 after buying an additional 2,600 shares during the last quarter. Finally, New England Research & Management Inc. raised its position in shares of Cavium by 53.7% in the first quarter. New England Research & Management Inc. now owns 5,050 shares of the semiconductor provider’s stock valued at $362,000 after buying an additional 1,764 shares during the last quarter.
Shares of Cavium, Inc. (NASDAQ:CAVM) traded down 0.42% during trading on Friday, reaching $61.13. The company’s stock had a trading volume of 695,434 shares. The firm’s 50-day moving average is $62.89 and its 200 day moving average is $67.73. The company’s market cap is $4.20 billion. Cavium, Inc. has a 52-week low of $50.30 and a 52-week high of $76.26.
Cavium (NASDAQ:CAVM) last announced its earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. Cavium had a negative net margin of 22.82% and a positive return on equity of 5.94%. The company had revenue of $242.09 million during the quarter, compared to analyst estimates of $238.93 million. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s quarterly revenue was up 125.8% compared to the same quarter last year. On average, equities research analysts predict that Cavium, Inc. will post $2.79 EPS for the current fiscal year.
A number of research analysts have recently commented on CAVM shares. Canaccord Genuity reissued a “hold” rating on shares of Cavium in a report on Friday, August 4th. BidaskClub lowered Cavium from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Morgan Stanley raised their target price on Cavium from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, April 28th. MKM Partners reaffirmed a “buy” rating and issued a $81.00 target price (up previously from $77.00) on shares of Cavium in a report on Monday, May 1st. Finally, Jefferies Group LLC raised Cavium from a “hold” rating to a “buy” rating and raised their target price for the company from $73.00 to $79.00 in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $76.13.
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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