KeyCorp reissued their buy rating on shares of Cavium, Inc. (NASDAQ:CAVM) in a research note issued to investors on Tuesday, October 17th. They currently have a $80.00 price target on the semiconductor provider’s stock.
A number of other research firms have also recently issued reports on CAVM. Stifel Nicolaus reaffirmed a hold rating and set a $66.00 price target on shares of Cavium in a research report on Thursday, October 12th. Barclays PLC raised Cavium from an equal weight rating to an overweight rating in a research report on Friday, July 21st. Pacific Crest reissued an equal weight rating on shares of Cavium in a report on Thursday, June 22nd. Bank of America Corporation reissued a buy rating on shares of Cavium in a report on Sunday, October 1st. Finally, BidaskClub raised Cavium from a sell rating to a hold rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. Cavium presently has a consensus rating of Buy and a consensus price target of $78.00.
Shares of Cavium (CAVM) traded up $8.16 during trading hours on Tuesday, reaching $76.43. The company’s stock had a trading volume of 4,802,432 shares, compared to its average volume of 671,572. The company has a market cap of $4,694.24, a PE ratio of 63.21, a P/E/G ratio of 2.52 and a beta of 1.27. Cavium has a 12-month low of $50.81 and a 12-month high of $76.26. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.71 and a quick ratio of 2.10.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Cavium had a positive return on equity of 11.24% and a negative net margin of 19.94%. The company had revenue of $251.99 million during the quarter, compared to analysts’ expectations of $250.16 million. During the same period in the prior year, the business posted $0.43 EPS. Cavium’s revenue was up 49.9% on a year-over-year basis. sell-side analysts expect that Cavium will post 1.3 EPS for the current fiscal year.
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In other news, COO Muhammad Raghib Hussain sold 20,000 shares of Cavium stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $61.85, for a total transaction of $1,237,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.65% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its holdings in shares of Cavium by 5.1% during the third quarter. New York State Common Retirement Fund now owns 220,874 shares of the semiconductor provider’s stock valued at $14,564,000 after acquiring an additional 10,684 shares in the last quarter. Suffolk Capital Management LLC increased its holdings in shares of Cavium by 32.0% during the third quarter. Suffolk Capital Management LLC now owns 233,646 shares of the semiconductor provider’s stock valued at $15,407,000 after acquiring an additional 56,591 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Cavium by 50.6% during the third quarter. Jennison Associates LLC now owns 1,939,958 shares of the semiconductor provider’s stock valued at $127,921,000 after acquiring an additional 652,177 shares in the last quarter. Swiss National Bank increased its holdings in shares of Cavium by 1.7% during the third quarter. Swiss National Bank now owns 113,502 shares of the semiconductor provider’s stock valued at $7,484,000 after acquiring an additional 1,900 shares in the last quarter. Finally, World Asset Management Inc bought a new stake in Cavium during the third quarter worth $203,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.
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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