Cavium, Inc. (NASDAQ:CAVM)‘s stock had its “hold” rating reiterated by research analysts at Canaccord Genuity in a report released on Tuesday, July 11th. They presently have a $66.00 price target on the semiconductor provider’s stock. Canaccord Genuity’s target price would indicate a potential upside of 8.18% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Argus raised their price objective on shares of Cavium from $75.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, March 14th. Jefferies Group LLC upgraded shares of Cavium from a “hold” rating to a “buy” rating and raised their price objective for the company from $73.00 to $79.00 in a report on Monday, July 10th. Needham & Company LLC restated a “buy” rating and issued a $78.00 price objective (up from $77.00) on shares of Cavium in a report on Thursday, April 27th. Longbow Research started coverage on shares of Cavium in a report on Friday, June 9th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, MKM Partners restated a “buy” rating and issued a $81.00 price objective (up from $77.00) on shares of Cavium in a report on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Cavium currently has a consensus rating of “Buy” and a consensus target price of $74.53.
Shares of Cavium (CAVM) traded down 0.11% during trading on Tuesday, reaching $61.01. 807,184 shares of the company were exchanged. The firm has a 50-day moving average price of $64.41 and a 200-day moving average price of $68.03. Cavium has a 1-year low of $46.78 and a 1-year high of $76.26. The stock’s market capitalization is $4.16 billion.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. Cavium had a negative net margin of 22.82% and a positive return on equity of 5.87%. The business had revenue of $242.09 million for the quarter, compared to analyst estimates of $238.93 million. During the same period last year, the business earned $0.29 EPS. The company’s revenue was up 125.8% on a year-over-year basis. Equities research analysts predict that Cavium will post $2.79 earnings per share for the current fiscal year.
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In other news, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $75.73, for a total value of $1,135,950.00. Following the sale, the senior vice president now owns 60,039 shares of the company’s stock, valued at $4,546,753.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Arthur D. Chadwick sold 40,000 shares of Cavium stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $75.14, for a total transaction of $3,005,600.00. Following the completion of the sale, the vice president now directly owns 75,383 shares in the company, valued at approximately $5,664,278.62. The disclosure for this sale can be found here. 4.65% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of CAVM. IFP Advisors Inc increased its stake in shares of Cavium by 6.9% in the first quarter. IFP Advisors Inc now owns 1,559 shares of the semiconductor provider’s stock valued at $112,000 after buying an additional 101 shares during the last quarter. Solaris Asset Management LLC increased its stake in shares of Cavium by 52.4% in the first quarter. Solaris Asset Management LLC now owns 1,600 shares of the semiconductor provider’s stock valued at $115,000 after buying an additional 550 shares during the last quarter. US Bancorp DE increased its stake in shares of Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock valued at $135,000 after buying an additional 868 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Cavium by 107.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock worth $160,000 after buying an additional 1,335 shares in the last quarter. Finally, Bluestein R H & Co. bought a new stake in Cavium during the first quarter worth approximately $215,000.
Cavium Company Profile
Cavium, Inc is a provider of integrated semiconductor processors that enable intelligent processing for wired and wireless infrastructure and cloud for networking, communications, storage and security applications. The Company’s products consist of multi-core processors for embedded and data center applications, network connectivity for server and switches, storage connectivity, and security processors for offload and appliance.
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