Canaccord Genuity Boosts Cavium, Inc. (CAVM) Price Target to $67.00

Cavium, Inc. (NASDAQ:CAVM) had its target price increased by Canaccord Genuity from $66.00 to $67.00 in a research note issued to investors on Thursday, November 2nd. The brokerage currently has a hold rating on the semiconductor provider’s stock.

Other equities analysts also recently issued reports about the stock. Bank of America Corporation restated a buy rating on shares of Cavium in a research note on Sunday, October 1st. Jefferies Group LLC upgraded shares of Cavium from a hold rating to a buy rating and increased their price objective for the stock from $73.00 to $79.00 in a research note on Monday, July 10th. Loop Capital restated a buy rating and set a $81.00 price objective on shares of Cavium in a research note on Tuesday, August 22nd. MKM Partners restated a buy rating and set a $81.00 price objective on shares of Cavium in a research note on Wednesday, August 16th. Finally, KeyCorp reaffirmed a buy rating and issued a $80.00 target price on shares of Cavium in a report on Tuesday, October 17th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Cavium currently has an average rating of Hold and an average target price of $80.71.

Cavium (NASDAQ:CAVM) traded up $3.18 during trading on Thursday, hitting $87.20. 8,297,500 shares of the stock were exchanged, compared to its average volume of 995,246. Cavium has a one year low of $53.73 and a one year high of $87.57. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.27 and a current ratio of 2.87. The firm has a market cap of $6,030.00, a P/E ratio of 77.80, a price-to-earnings-growth ratio of 3.03 and a beta of 1.27.

Cavium (NASDAQ:CAVM) last posted its quarterly earnings data on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS 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 company had revenue of $251.99 million during the quarter, compared to the consensus estimate of $250.16 million. During the same period in the prior year, the business posted $0.43 EPS. The company’s quarterly revenue was up 49.9% on a year-over-year basis. analysts expect that Cavium will post 1.33 earnings per share for the current year.

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In other Cavium news, SVP Vincent P. Pangrazio sold 15,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $77.22, for a total transaction of $1,158,300.00. Following the transaction, the senior vice president now owns 60,039 shares in the company, valued at approximately $4,636,211.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.65% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CAVM. First Trust Advisors LP acquired a new stake in shares of Cavium during the 1st quarter worth approximately $274,000. Prudential Financial Inc. boosted its position in shares of Cavium by 3.0% during the 1st quarter. Prudential Financial Inc. now owns 6,917 shares of the semiconductor provider’s stock worth $496,000 after acquiring an additional 200 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Cavium by 4.1% during the 1st quarter. Legal & General Group Plc now owns 22,341 shares of the semiconductor provider’s stock worth $1,598,000 after acquiring an additional 875 shares in the last quarter. BlackRock Inc. boosted its position in shares of Cavium by 64,275.6% during the 1st quarter. BlackRock Inc. now owns 4,382,691 shares of the semiconductor provider’s stock worth $314,065,000 after acquiring an additional 4,375,883 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Cavium by 3.4% during the 1st quarter. State Street Corp now owns 1,370,661 shares of the semiconductor provider’s stock worth $98,221,000 after acquiring an additional 44,456 shares in the last quarter.

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.

Analyst Recommendations for Cavium (NASDAQ:CAVM)

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