Cavium, Inc. (NASDAQ:CAVM)‘s stock had its “buy” rating reaffirmed by equities research analysts at Loop Capital in a research note issued on Thursday, November 2nd. They currently have a $81.00 target price on the semiconductor provider’s stock. Loop Capital’s price target would indicate a potential upside of 4.91% from the stock’s previous close.
Other research analysts have also issued research reports about the company. Jefferies Group LLC set a $79.00 price objective on Cavium and gave the company a “buy” rating in a research report on Thursday, October 19th. MKM Partners reiterated a “buy” rating and issued a $81.00 price target on shares of Cavium in a research report on Wednesday, August 16th. Barclays PLC upgraded Cavium from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 21st. BidaskClub upgraded Cavium from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Cavium in a research report on Friday, August 4th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $77.88.
Cavium (CAVM) traded down $0.15 during trading hours on Thursday, reaching $77.21. The company’s stock had a trading volume of 615,800 shares, compared to its average volume of 888,890. The company has a current ratio of 2.87, a quick ratio of 2.27 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $5,348.36, a PE ratio of 71.63, a PEG ratio of 2.79 and a beta of 1.27. Cavium has a twelve month low of $53.73 and a twelve month high of $77.60.
Cavium (NASDAQ:CAVM) last posted its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. The business had revenue of $251.99 million for the quarter, compared to analysts’ expectations of $250.16 million. Cavium had a positive return on equity of 11.16% and a negative net margin of 19.94%. The business’s quarterly revenue was up 49.9% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. research analysts forecast that Cavium will post 1.33 EPS for the current year.
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In related news, COO Muhammad Raghib Hussain sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $61.85, for a total value of $1,237,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vincent P. Pangrazio sold 15,000 shares of the business’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 completion of the transaction, the senior vice president now directly owns 60,039 shares of the company’s stock, valued at approximately $4,636,211.58. The disclosure for this sale can be found here. Insiders own 4.65% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Frontier Capital Management Co. LLC grew its holdings in Cavium by 581.0% in the third quarter. Frontier Capital Management Co. LLC now owns 820,499 shares of the semiconductor provider’s stock worth $54,104,000 after purchasing an additional 700,015 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in Cavium in the second quarter worth $3,171,000. Prudential Financial Inc. grew its holdings in Cavium by 3.0% in the first quarter. Prudential Financial Inc. now owns 6,917 shares of the semiconductor provider’s stock worth $496,000 after purchasing an additional 200 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Cavium by 23.5% in the third quarter. Fisher Asset Management LLC now owns 916,197 shares of the semiconductor provider’s stock worth $60,414,000 after purchasing an additional 174,209 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Cavium in the second quarter worth $320,000.
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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