Today’s Stock On Watch: Could Cavium Incorporated (NASDAQ:CAVM) Change Direction After Less Shorts?

November 28, 2016 - By Winifred Garcia   ·   0 Comments

Today's Stock On Watch: Could Cavium Incorporated (NASDAQ:CAVM) Change Direction After Less Shorts?

The stock of Cavium Incorporated (NASDAQ:CAVM) registered a decrease of 0.29% in short interest. CAVM’s total short interest was 7.38 million shares in November as published by FINRA. Its down 0.29% from 7.40 million shares, reported previously. With 634,100 shares average volume, it will take short sellers 12 days to cover their CAVM’s short positions. The short interest to Cavium Incorporated’s float is 13.18%. About 666,458 shares traded hands. Cavium Inc (NASDAQ:CAVM) has risen 0.24% since April 25, 2016 and is uptrending. It has underperformed by 5.78% 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 $3.68 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.

Insitutional Activity: The institutional sentiment increased to 1.82 in 2016 Q2. Its up 0.92, from 0.9 in 2016Q1. The ratio increased, 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.
Blackrock Institutional Tru Com Na accumulated 1.39 million shares or 0.01% of the stock. Suffolk Capital Mngmt owns 59,881 shares or 0.3% of their US portfolio. Amalgamated Fincl Bank owns 5,945 shares or 0.02% of their US portfolio. Emerald Advisers Pa holds 0.66% of its portfolio in Cavium Inc (NASDAQ:CAVM) for 354,588 shares. Deutsche Bank & Trust Ag, a Germany-based fund reported 593,991 shares. Neuberger Berman Grp Limited Liability Co owns 252,500 shares or 0.01% of their US portfolio. Panagora Asset reported 247,332 shares or 0.05% of all its holdings. Bnp Paribas Prtn Sa owns 24,765 shares or 0.01% of their US portfolio. Acadian Asset Management Ltd Liability owns 225 shares or 0% of their US portfolio. Jennison Assocs Ltd Com has 1.22 million shares for 0.05% of their US portfolio. Proshare Advsrs Ltd Liability Co accumulated 10,683 shares or 0.01% of the stock. The Connecticut-based Paloma Prtn Mgmt has invested 0.01% in Cavium Inc (NASDAQ:CAVM). Blackrock Fund has 0.01% invested in the company for 1.55 million shares. Geode Llc reported 402,380 shares or 0.01% of all its holdings. Fisher Asset Management Limited Liability Corp has 98,928 shares for 0.01% of their US portfolio.

Insider Transactions: Since August 16, 2016, the stock had 3 buys, and 1 sale for $3.37 million net activity. Shares for $1.11 million were bought by CHADWICK ARTHUR D on Thursday, August 25. On Tuesday, August 16 Hussain Muhammad Raghib bought $1.04 million worth of the stock or 20,000 shares. On Monday, November 21 the insider Ali Syed sold $6.03M.

Cavium Inc (NASDAQ:CAVM) Ratings Coverage

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. Cavium Networks Inc. has been the topic of 30 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The rating was initiated by Bank of America with “Neutral” on Thursday, December 10. The stock has “Hold” rating given by Topeka Capital Markets on Thursday, January 28. The rating was downgraded by Jeffries to “Hold” on Thursday, June 16. Barclays Capital maintained Cavium Inc (NASDAQ:CAVM) on Saturday, September 5 with “Overweight” rating. The firm has “Buy” rating given on Thursday, June 16 by Brean Capital. Stifel Nicolaus downgraded it to “Hold” rating and $70 target price in Thursday, October 29 report. The rating was maintained by JP Morgan on Tuesday, September 13 with “Overweight”. On Thursday, July 30 the stock rating was maintained by Needham with “Buy”. Canaccord Genuity maintained the shares of CAVM in a report on Thursday, August 13 with “Buy” rating. The rating was maintained by Topeka Capital Markets on Thursday, July 30 with “Hold”.

CAVM Company Profile

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.

More news for Cavium Inc (NASDAQ:CAVM) were recently published by: Prnewswire.com, which released: “Cavium, Inc. Commences Exchange Offer to Acquire QLogic Corporation” on July 13, 2016. Prnewswire.com‘s article titled: “Packet Introduces Global ARMv8-A Bare Metal Cloud to Power Container and IoT …” and published on November 15, 2016 is yet another important article.

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By Winifred Garcia


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