Stock Traders Purchase Large Volume of Cavium Put Options (CAVM)
Cavium, Inc. (NASDAQ:CAVM) was the target of unusually large options trading activity on Thursday. Traders acquired 3,201 put options on the stock. This is an increase of approximately Infinity compared to the typical volume of 0 put options.
CAVM has been the subject of a number of analyst reports. Jefferies Group LLC set a $79.00 price objective on shares of Cavium and gave the company a “buy” rating in a research note on Thursday, October 19th. Canaccord Genuity upped their price objective on shares of Cavium from $66.00 to $67.00 and gave the company a “hold” rating in a research note on Thursday. Morgan Stanley reduced their price objective on shares of Cavium from $78.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 price objective on shares of Cavium in a research note on Thursday. Finally, Loop Capital reaffirmed a “buy” rating and set a $81.00 price objective on shares of Cavium in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Cavium currently has an average rating of “Buy” and an average price target of $78.00.
Cavium (CAVM) opened at $68.27 on Friday. Cavium has a twelve month low of $50.81 and a twelve month high of $76.26. The company has a current ratio of 2.71, a quick ratio of 2.10 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $4,694.25, a P/E ratio of 63.21, a price-to-earnings-growth ratio of 2.52 and a beta of 1.27.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Cavium had a positive return on equity of 11.24% and a negative net margin of 19.94%. The company had revenue of $251.99 million for the quarter, compared to the consensus estimate of $250.16 million. During the same quarter last year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 49.9% compared to the same quarter last year. equities research analysts forecast that Cavium will post 1.3 EPS for the current year.
In related news, COO Muhammad Raghib Hussain sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $61.85, for a total value of $1,237,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.65% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Wesbanco Bank Inc. acquired a new position in Cavium during the second quarter valued at approximately $3,171,000. Prudential Financial Inc. boosted its position in shares of Cavium by 3.0% in the first quarter. Prudential Financial Inc. now owns 6,917 shares of the semiconductor provider’s stock valued at $496,000 after acquiring an additional 200 shares during the period. Fisher Asset Management LLC boosted its position in shares of Cavium by 23.5% in the third quarter. Fisher Asset Management LLC now owns 916,197 shares of the semiconductor provider’s stock valued at $60,414,000 after acquiring an additional 174,209 shares during the period. Comgest Global Investors S.A.S. boosted its position in shares of Cavium by 24.6% in the second quarter. Comgest Global Investors S.A.S. now owns 30,400 shares of the semiconductor provider’s stock valued at $1,889,000 after acquiring an additional 6,000 shares during the period. Finally, Neuberger Berman Group LLC bought a new stake in shares of Cavium in the second quarter valued at approximately $11,805,000. Institutional investors own 98.70% of the company’s stock.
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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