Eagle Asset Management Inc Lowers stake in Cavium Inc (CAVM)

Cavium Inc (CAVM) : Eagle Asset Management Inc reduced its stake in Cavium Inc by 2.96% during the most recent quarter end. The investment management company now holds a total of 1,571,559 shares of Cavium Inc which is valued at $87,268,671 after selling 48,018 shares in Cavium Inc , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Cavium Inc makes up approximately 0.60% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co sold out all of its stake in CAVM during the most recent quarter. The investment firm sold 2,381 shares of CAVM which is valued $132,217. Gofen Glossberg Il added CAVM to its portfolio by purchasing 3,975 company shares during the most recent quarter which is valued at $227,728. Cavium Inc makes up approx 0.01% of Gofen Glossberg Il’s portfolio.First Mercantile Trust Co reduced its stake in CAVM by selling 205 shares or 10.11% in the most recent quarter. The Hedge Fund company now holds 1,822 shares of CAVM which is valued at $104,729. Cavium Inc makes up approx 0.01% of First Mercantile Trust Co’s portfolio. Simplex Trading sold out all of its stake in CAVM during the most recent quarter. The investment firm sold 83 shares of CAVM which is valued $4,771.Bnp Paribas Arbitrage Sa reduced its stake in CAVM by selling 3,703 shares or 39.38% in the most recent quarter. The Hedge Fund company now holds 5,700 shares of CAVM which is valued at $329,232.

Cavium Inc closed down -1.76 points or -3.07% at $55.53 with 10,20,925 shares getting traded on Tuesday. Post opening the session at $57.23, the shares hit an intraday low of $54.77 and an intraday high of $57.31 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Cavium Inc reported $0.25 EPS for the quarter, based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus estimate of $0.25. The company had revenue of $101.90 million for the quarter, compared to analysts expectations of $102.01 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Cavium Inc. Cavium Inc was Initiated by Susquehanna to “Positive” on Sep 20, 2016. Cavium Inc was Resumed by JP Morgan to “Overweight” on Sep 13, 2016.

Cavium Inc. is a provider of semiconductor processors which enable 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 Plus OCTEON Fusion OCTEON XL LiquidIO NITROX NEURON Search and PureVu. The Company’s OCTEON OCTEON Plus OCTEON II and OCTEON III Multi-core MIPS64 processor families provide data and security processing. The LiquidIO Server Adapter family is a server compliant half-height Peripheral Component Interconnect Express (PCI Express). The NITROX processor family offers security processors. The NEURON Search processor family targets a range of Layer 2 to Layer 4 network search applications in enterprise and service provider infrastructure equipment. The PureVu product family is an integrated media system on a chip (SoC). The Company also offers ThunderX a multi-core SoC processor and MontaVista software products.

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