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NEW YORK ( TheStreet) -- Cavium (Nasdaq: CAVM) hit a new 52-week low Friday as it is currently trading at $22.76, below its previous 52-week low of $22.84 with 1.4 million shares traded as of 3:30 p.m. ET. Average volume has been 1.4 million shares over the past 30 days. Cavium has a market cap of $1.22 billion and is part of the technology sector and electronics industry. Shares are down 33% year to date as of the close of trading on Thursday. Cavium, Inc. designs, develops, and markets semiconductor processors for intelligent and secure networks. The company has a P/E ratio of 29.2, above the S&P 500 P/E ratio of 17.7.