Chicago Capital Management LLC reduced its position in shares of Cavium (NASDAQ:CAVM) by 89.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,270 shares of the semiconductor provider’s stock after selling 201,730 shares during the period. Cavium makes up about 0.7% of Chicago Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Chicago Capital Management LLC’s holdings in Cavium were worth $1,847,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Delpha Capital Management LLC acquired a new position in Cavium in the 4th quarter valued at $114,000. SG Americas Securities LLC acquired a new position in Cavium in the 4th quarter valued at $115,000. Cerebellum GP LLC acquired a new position in Cavium in the 4th quarter valued at $126,000. American International Group Inc. acquired a new position in Cavium in the 4th quarter valued at $131,000. Finally, US Bancorp DE raised its holdings in Cavium by 201.3% in the 4th quarter. US Bancorp DE now owns 1,657 shares of the semiconductor provider’s stock valued at $139,000 after acquiring an additional 1,107 shares in the last quarter. 91.25% of the stock is owned by institutional investors and hedge funds.
In other news, VP Anil Kumar Jain sold 20,924 shares of Cavium stock in a transaction on Friday, March 9th. The stock was sold at an average price of $92.52, for a total value of $1,935,888.48. Following the transaction, the vice president now owns 105,612 shares in the company, valued at approximately $9,771,222.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Arthur D. Chadwick sold 50,798 shares of Cavium stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $88.41, for a total value of $4,491,051.18. Following the completion of the transaction, the chief financial officer now owns 116,811 shares in the company, valued at approximately $10,327,260.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 242,499 shares of company stock worth $21,633,532. Corporate insiders own 4.65% of the company’s stock.
Several brokerages have weighed in on CAVM. ValuEngine raised Cavium from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Raymond James cut Cavium from an “outperform” rating to a “market perform” rating and set a $80.00 price objective for the company. in a report on Friday, February 2nd. BidaskClub cut Cavium from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised Cavium from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus lifted their price objective on Cavium from $68.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $79.33.
Cavium Company Profile
Cavium, Inc designs, develops, and markets semiconductor processors for intelligent and secure networks in the United States and internationally. The company offers integrated semiconductor processors that enable intelligent processing for wired and wireless infrastructure and cloud for networking, communications, storage, and security applications.
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