November 24, 2016 - By Michael Collier
It was published in a legally required report that was filled with the DC-based SEC that Syed Ali, who works for Cavium Inc, and is currently the Pres. – CEO – Chairman of board did an insider trade on November 23, 2016. He made a sale of 109,948 shares of the stock exchange listed company based on a market stock price of $54.9 US Dollars per share. As shown in the electronic form available here, the full amount of the trade was $6,030,648 US Dollars. And, It’s sure Syed’s deal isn’t going to stay unnoticed as he today is having rights to 1.73 million shares – ( 2.57% of Cavium Inc’s Market Cap ).
Out of 16 analysts covering Cavium Networks Inc. (NASDAQ:CAVM), 9 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 56% are positive. $83 is the highest target while $48 is the lowest. The $65.09 average target is 18.58% above today’s ($54.89) stock price. Cavium Networks Inc. has been the topic of 30 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The rating was downgraded by Canaccord Genuity on Thursday, June 16 to “Hold”. The rating was maintained by Topeka Capital Markets with “Hold” on Thursday, January 28. On Thursday, July 30 the stock rating was maintained by Canaccord Genuity with “Buy”. The firm has “Buy” rating by Canaccord Genuity given on Thursday, August 13. The rating was maintained by Barclays Capital on Saturday, September 5 with “Overweight”. Topeka Capital Markets maintained Cavium Inc (NASDAQ:CAVM) on Thursday, April 28 with “Hold” rating. Barclays Capital maintained Cavium Inc (NASDAQ:CAVM) rating on Friday, May 13. Barclays Capital has “Overweight” rating and $65 price target. The stock of Cavium Inc (NASDAQ:CAVM) has “Neutral” rating given on Thursday, December 10 by Bank of America. JMP Securities downgraded the shares of CAVM in a report on Monday, November 23 to “Underperform” rating. The firm earned “Sector Perform” rating on Thursday, June 16 by Pacific Crest.
Insitutional Activity: The institutional sentiment increased to 1.82 in 2016 Q2. Its up 0.92, from 0.9 in 2016Q1. The ratio improved, as 59 funds sold all Cavium Inc shares owned while 59 reduced positions. 30 funds bought stakes while 76 increased positions. They now own 60.99 million shares or 0.39% less from 61.23 million shares in 2016Q1.
Commonwealth Equity has invested 0% of its portfolio in Cavium Inc (NASDAQ:CAVM). Tiaa Cref Inv Mngmt Lc holds 0.01% or 176,979 shares in its portfolio. Td Asset Management holds 0% or 9,700 shares in its portfolio. Envestnet Asset has 0% invested in the company for 6,717 shares. Nationwide Fund has 0.01% invested in the company for 86,867 shares. Swiss Savings Bank last reported 0.01% of its portfolio in the stock. Marshall Wace Ltd Liability Partnership last reported 0.02% of its portfolio in the stock. Cullinan Associate Inc holds 10,528 shares or 0.03% of its portfolio. Tower Research Cap Limited Liability Com (Trc) accumulated 2,540 shares or 0.01% of the stock. Alpine Assoc Management has invested 0.07% of its portfolio in Cavium Inc (NASDAQ:CAVM). California Employees Retirement System holds 0.01% or 132,600 shares in its portfolio. Nj State Employees Deferred Compensation Plan accumulated 20,000 shares or 0.16% of the stock. Acadian Asset Ltd Llc accumulated 225 shares or 0% of the stock. The Utah-based Wasatch Advsrs has invested 1.16% in Cavium Inc (NASDAQ:CAVM). Zurcher Kantonalbank (Zurich Cantonalbank) holds 0.01% of its portfolio in Cavium Inc (NASDAQ:CAVM) for 25,635 shares.
Insider Transactions: Since August 16, 2016, the stock had 3 insider purchases, and 1 insider sale for $3.37 million net activity. $519,400 worth of shares were bought by CHADWICK ARTHUR D on Tuesday, August 16. Another trade for 109,948 shares valued at $6.03 million was made by Ali Syed on Monday, November 21. Hussain Muhammad Raghib also bought $1.04M worth of Cavium Inc (NASDAQ:CAVM) shares.
The stock increased 0.57% or $0.31 during the last trading session, hitting $54.89. About 638,214 shares traded hands. Cavium Inc (NASDAQ:CAVM) has declined 1.59% since April 21, 2016 and is downtrending. It has underperformed by 6.92% the S&P500.
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 has a market cap of $3.69 billion. The Company’s products include OCTEON, OCTEON Fusion, OCTEON XL, LiquidIO, NITROX, NEURON Search, ThunderX, Xpliant and XPA. It currently has negative earnings. It serves providers of networking equipment that sell into the enterprise, datacenter, service provider, and broadband and consumer markets.
According to Zacks Investment Research, “Cavium, Inc. is engaged in providing semiconductor processors that enable networking, communications, storage, video and security applications. The Company offers software compatible processors with functionality in enterprise, data-center, broadband/consumer and access and service provider equipment. Its processors are supported by ecosystem partners that provide operating systems, tools and application support, hardware reference designs and other services. Cavium, Inc., formerly known as Cavium Networks, Inc., is headquartered in Mountain View, California.”
Analysts await Cavium Inc (NASDAQ:CAVM) to report earnings on January, 25. They expect $0.18 earnings per share, up 260.00% or $0.13 from last year’s $0.05 per share. CAVM’s profit will be $12.10M for 76.24 P/E if the $0.18 EPS becomes a reality. After $-0.16 actual earnings per share reported by Cavium Inc for the previous quarter, Wall Street now forecasts -212.50% EPS growth.
More news for Cavium Inc (NASDAQ:CAVM) were recently published by: Prnewswire.com, which released: “Cavium to Showcase Highly Optimized Platforms for OpenStack Deployments at ..” on October 25, 2016. Prnewswire.com‘s article titled: “Cavium Announces Financial Results for Q3 2016” and published on November 01, 2016 is yet another important article.
Cavium, Inc., incorporated on June 22, 2006, is a well-known 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. It offers integrated semiconductors that provide single or multiple cores of processors, along with intelligent Layer 2 through 7 processing for enterprise network, data center, broadband and consumer, and access and service well-known provider markets.
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