Raymond James Financial, Inc. reaffirmed their outperform rating on shares of Cavium, Inc. (NASDAQ:CAVM) in a research report sent to investors on Thursday morning. Raymond James Financial, Inc. currently has a $75.00 target price on the semiconductor provider’s stock.
Other equities analysts have also issued reports about the stock. BidaskClub raised shares of Cavium from a sell rating to a hold rating in a research report on Wednesday, August 16th. Canaccord Genuity reissued a hold rating and issued a $66.00 price objective on shares of Cavium in a research report on Tuesday, August 15th. Zacks Investment Research lowered shares of Cavium from a hold rating to a strong sell rating in a research report on Monday, August 7th. Longbow Research assumed coverage on shares of Cavium in a research report on Friday, June 9th. They issued a buy rating and a $85.00 price objective on the stock. Finally, Pacific Crest reissued an equal weight rating on shares of Cavium in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $77.00.
Cavium (NASDAQ CAVM) opened at 66.55 on Thursday. The company’s market cap is $4.58 billion. Cavium has a 12-month low of $50.81 and a 12-month high of $76.26. The stock’s 50 day moving average is $61.59 and its 200 day moving average is $67.21.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $242.09 million during the quarter, compared to analysts’ expectations of $238.93 million. Cavium had a negative net margin of 22.82% and a positive return on equity of 5.94%. The company’s revenue for the quarter was up 125.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 earnings per share. On average, equities analysts forecast that Cavium will post $2.79 earnings per share for the current year.
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In other Cavium news, COO Muhammad Raghib Hussain sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $61.85, for a total value of $1,237,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.65% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE increased its holdings in Cavium by 85.1% in the 1st 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 period. Solaris Asset Management LLC increased its holdings in Cavium by 43.4% in the 2nd quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock valued at $143,000 after buying an additional 695 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Cavium by 107.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock valued at $160,000 after buying an additional 1,335 shares during the period. Bluestein R H & Co. bought a new position in Cavium in the 1st quarter valued at about $215,000. Finally, FNY Partners Fund LP increased its holdings in Cavium by 1.2% in the 1st quarter. FNY Partners Fund LP now owns 3,400 shares of the semiconductor provider’s stock valued at $243,000 after buying an additional 40 shares during the period. 98.38% of the stock is currently owned by hedge funds and other institutional investors.
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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