Cavium, Inc. (CAVM) Downgraded by Zacks Investment Research

Cavium, Inc. (NASDAQ:CAVM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, November 7th.

According to Zacks, “Cavium, Inc. is engaged in providing semiconductor processors that enable networking, communications, storage, video and security applications. The Company offers software compatible processors with functionality in enterprise, data-center, broadband/consumer and access and service provider equipment. Its processors are supported by ecosystem partners that provide operating systems, tools and application support, hardware reference designs and other services. Cavium, Inc., formerly known as Cavium Networks, Inc., is headquartered in Mountain View, California. “

Several other brokerages have also recently weighed in on CAVM. Jefferies Group LLC raised shares of Cavium from a “hold” rating to a “buy” rating and increased their price target for the company from $73.00 to $79.00 in a research report on Monday, July 10th. Canaccord Genuity reissued a “hold” rating and set a $66.00 price target on shares of Cavium in a research report on Tuesday, July 11th. BidaskClub raised shares of Cavium from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Barclays PLC upgraded shares of Cavium from an “equal weight” rating to an “overweight” rating in a report on Friday, July 21st. Finally, MKM Partners restated a “buy” rating and issued a $81.00 price objective on shares of Cavium in a report on Wednesday, August 16th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $78.41.

Cavium (CAVM) traded up $0.20 during trading on Tuesday, reaching $88.80. 812,180 shares of the company were exchanged, compared to its average volume of 2,412,078. The company has a quick ratio of 2.27, a current ratio of 2.87 and a debt-to-equity ratio of 0.81. The company has a market cap of $6,141.05, a price-to-earnings ratio of 82.22, a PEG ratio of 3.20 and a beta of 1.27. Cavium has a twelve month low of $53.76 and a twelve month high of $88.96.

Cavium (NASDAQ:CAVM) last posted its earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.02. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The business had revenue of $251.99 million for the quarter, compared to analyst estimates of $250.16 million. During the same quarter in the prior year, the firm posted $0.43 EPS. Cavium’s revenue was up 49.9% on a year-over-year basis. research analysts anticipate that Cavium will post 1.33 earnings per share for the current year.

In other Cavium news, VP Anil Kumar Jain sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $85.90, for a total transaction of $730,150.00. Following the sale, the vice president now owns 91,616 shares in the company, valued at approximately $7,869,814.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Vincent P. Pangrazio sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $77.22, for a total transaction of $1,158,300.00. Following the sale, the senior vice president now owns 60,039 shares in the company, valued at approximately $4,636,211.58. The disclosure for this sale can be found here. Company insiders own 4.65% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CAVM. Solaris Asset Management LLC boosted its stake in Cavium by 43.4% during the second quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock worth $143,000 after buying an additional 695 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Cavium by 107.3% during 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 during the period. World Asset Management Inc purchased a new position in Cavium during the third quarter worth $203,000. Tudor Investment Corp ET AL purchased a new position in Cavium during the second quarter worth $228,000. Finally, Pacad Investment Ltd. boosted its stake in Cavium by 42.3% during the second quarter. Pacad Investment Ltd. now owns 3,700 shares of the semiconductor provider’s stock worth $230,000 after buying an additional 1,100 shares during the period.

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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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