Kornitzer Capital Management Inc. KS increased its stake in shares of Cavium Inc. (NASDAQ:CAVM) by 17.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 302,050 shares of the semiconductor provider’s stock after buying an additional 45,285 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.53% of Cavium worth $11,659,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. Kalmar Investments Inc. DE boosted its position in shares of Cavium by 153.7% in the second quarter. Kalmar Investments Inc. DE now owns 339,660 shares of the semiconductor provider’s stock valued at $13,111,000 after buying an additional 205,770 shares during the period. Henderson Group PLC boosted its position in shares of Cavium by 86.9% in the second quarter. Henderson Group PLC now owns 631,623 shares of the semiconductor provider’s stock valued at $24,390,000 after buying an additional 293,620 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of Cavium by 18.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 190,187 shares of the semiconductor provider’s stock valued at $7,341,000 after buying an additional 29,240 shares during the period. Standard Life Investments LTD boosted its position in shares of Cavium by 19.1% in the second quarter. Standard Life Investments LTD now owns 3,799,853 shares of the semiconductor provider’s stock valued at $146,731,000 after buying an additional 608,685 shares during the period. Finally, Comgest Global Investors S.A.S. boosted its position in shares of Cavium by 8.9% in the second quarter. Comgest Global Investors S.A.S. now owns 405,230 shares of the semiconductor provider’s stock valued at $15,642,000 after buying an additional 33,213 shares during the period. Hedge funds and other institutional investors own 93.92% of the company’s stock.
Shares of Cavium Inc. (NASDAQ:CAVM) traded up 0.24% on Friday, reaching $53.58. The company’s stock had a trading volume of 938,330 shares. Cavium Inc. has a 1-year low of $35.90 and a 1-year high of $73.95. The stock has a 50-day moving average of $55.89 and a 200 day moving average of $50.45. The stock’s market capitalization is $3.10 billion.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings results on Tuesday, July 26th. The semiconductor provider reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. Cavium had a negative net margin of 1.94% and a positive return on equity of 4.39%. The company had revenue of $107.20 million for the quarter, compared to analyst estimates of $106.70 million. During the same quarter last year, the business earned $0.41 earnings per share. Cavium’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that Cavium Inc. will post $1.44 EPS for the current year.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Cavium from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Tuesday, September 27th. Susquehanna assumed coverage on Cavium in a research report on Tuesday, September 20th. They issued a “positive” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. restated an “overweight” rating on shares of Cavium in a research report on Tuesday, September 13th. TheStreet upgraded Cavium from a “sell” rating to a “hold” rating in a research report on Friday, September 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of Cavium in a research report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $61.03.
In related news, COO Muhammad Raghib Hussain acquired 20,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were acquired at an average price of $51.86 per share, for a total transaction of $1,037,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Arthur D. Chadwick acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were bought at an average price of $51.94 per share, for a total transaction of $519,400.00. Following the purchase, the vice president now directly owns 102,845 shares of the company’s stock, valued at $5,341,769.30. The disclosure for this purchase can be found here. 4.63% of the stock is currently owned by company insiders.
Cavium Company Profile
Cavium, Inc is a provider of semiconductor processors, which enables processing for wired and wireless networking, communications, storage, cloud, wireless, security, video and connected home and office applications. The Company’s products include OCTEON, OCTEON Fusion, OCTEON XL, LiquidIO, NITROX, NEURON Search, ThunderX, Xpliant and XPA.