Cavium (CAVM) : Money flow in the Cavium (CAVM) stock was negative (2.14 million) on Tuesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $23.3 million, compared to $25.44 million on downticks. The total uptick to downtick ratio was 0.92, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($1.15 million), indicating selling on the strength. The transaction value during uptick in block trades was $1.15 million. Downtick transaction value in block trades amounted to $0.1 million, indicating persistent selling. Cavium (CAVM) traded $1.71 higher at $56.8 gaining 3.1% over the previous days close.
Also, Equity analysts at the Brokerage firm Barclays maintains its rating on Cavium (NASDAQ:CAVM). The rating major has initiated the coverage with overweight rating on the shares. The Analysts at Barclays raises the price target from $54 per share to $60 per share. The rating by the firm was issued on August 5, 2016.
Shares of Cavium, Inc. rose by 2.51% in the last five trading days and 20.3% for the last 4 weeks. Cavium, Inc. is up 12.87% in the last 3-month period. Year-to-Date the stock performance stands at -13.51%.
Cavium (NASDAQ:CAVM): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $55.96 and $55.67 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $57.56. The buying momentum continued till the end and the stock did not give up its gains. It closed at $56.83, notching a gain of 3.16% for the day. The total traded volume was 1,888,545 . The stock had closed at $55.09 on the previous day.
In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the COO of Cavium, Inc., Hussain Muhammad Raghib had purchased shares worth of $1,037,000 in a transaction dated on August 16, 2016. A total of 20,000 shares were purchased at a price of $51.85 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
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 Companys products include OCTEON, OCTEON Plus, OCTEON Fusion, OCTEON XL, LiquidIO, NITROX, NEURON Search and PureVu. The Companys 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.