Raymond James Financial, Inc. reissued their outperform rating on shares of Cavium, Inc. (NASDAQ:CAVM) in a research report report published on Thursday morning. The firm currently has a $75.00 target price on the semiconductor provider’s stock.
Several other research firms have also issued reports on CAVM. Longbow Research began coverage on Cavium in a research note on Friday, June 9th. They set a buy rating and a $85.00 price objective for the company. BidaskClub lowered Cavium from a buy rating to a hold rating in a research note on Wednesday, June 14th. Barclays PLC raised Cavium from an equal weight rating to an overweight rating in a research note on Friday, July 21st. Pacific Crest reissued an equal weight rating on shares of Cavium in a research note on Thursday, June 22nd. Finally, Canaccord Genuity reissued a hold rating and set a $66.00 price objective on shares of Cavium in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $77.00.
Cavium (NASDAQ CAVM) traded up 3.95% during mid-day trading on Thursday, hitting $66.55. The stock had a trading volume of 1,735,583 shares. The firm’s 50-day moving average is $61.59 and its 200 day moving average is $67.21. 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.
Cavium (NASDAQ:CAVM) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The company had revenue of $242.09 million during the quarter, compared to analyst estimates of $238.93 million. Cavium had a positive return on equity of 5.94% and a negative net margin of 22.82%. The firm’s quarterly revenue was up 125.8% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. Equities analysts anticipate that Cavium will post $2.79 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 value of $1,237,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.65% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CAVM. US Bancorp DE increased its holdings in shares of Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock worth $135,000 after buying an additional 868 shares during the period. Solaris Asset Management LLC increased its holdings in shares of Cavium by 43.4% in 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 increased its holdings in shares of Cavium by 107.3% in 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. Bluestein R H & Co. purchased a new position in shares of Cavium in the first quarter worth about $215,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Cavium in the second quarter worth about $228,000. Hedge funds and other institutional investors own 98.25% of the company’s stock.
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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