Cavium Inc (CAVM) SVP Sells $1,135,950.00 in Stock
Cavium Inc (NASDAQ:CAVM) SVP Vincent P. Pangrazio sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $75.73, for a total value of $1,135,950.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink.
Shares of Cavium Inc (NASDAQ:CAVM) traded up 1.97% during mid-day trading on Thursday, reaching $71.53. The company had a trading volume of 806,049 shares. The firm’s 50 day moving average is $70.38 and its 200-day moving average is $65.06. Cavium Inc has a 12-month low of $35.90 and a 12-month high of $76.26. The stock’s market capitalization is $4.86 billion.
Cavium (NASDAQ:CAVM) last issued its quarterly earnings results on Wednesday, April 26th. The semiconductor provider reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.09. The company had revenue of $229.58 million for the quarter, compared to analyst estimates of $227.22 million. Cavium had a positive return on equity of 2.07% and a negative net margin of 24.40%. The company’s quarterly revenue was up 125.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. On average, analysts expect that Cavium Inc will post $2.78 earnings per share for the current fiscal year.
A number of analysts have issued reports on the company. 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. 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. Jefferies Group LLC reaffirmed a “hold” rating and issued a $73.00 target price (up previously from $69.00) on shares of Cavium in a report on Thursday, April 27th. Stifel Nicolaus raised their target price on Cavium from $55.00 to $66.00 and gave the company a “hold” rating in a report on Thursday, April 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 target price (up previously from $77.00) on shares of Cavium in a report on Thursday, April 27th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $71.79.
A number of large investors have recently modified their holdings of the company. Virginia Retirement Systems ET AL bought a new stake in shares of Cavium during the third quarter worth about $1,869,000. Mutual of America Capital Management LLC increased its stake in shares of Cavium by 17.2% in the third quarter. Mutual of America Capital Management LLC now owns 228,670 shares of the semiconductor provider’s stock worth $13,309,000 after buying an additional 33,563 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Cavium by 0.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 191,112 shares of the semiconductor provider’s stock worth $11,123,000 after buying an additional 925 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Cavium by 40.8% in the third quarter. Jennison Associates LLC now owns 1,718,578 shares of the semiconductor provider’s stock worth $100,021,000 after buying an additional 498,023 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Cavium by 62.4% in the third quarter. Prudential Financial Inc. now owns 9,570 shares of the semiconductor provider’s stock worth $557,000 after buying an additional 3,678 shares in the last quarter.
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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