Cavium, Inc. (NASDAQ:CAVM) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday.

Several other equities research analysts have also recently issued reports on CAVM. Canaccord Genuity reissued a “hold” rating and issued a $66.00 price objective on shares of Cavium in a research report on Tuesday. Zacks Investment Research cut shares of Cavium from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Stifel Nicolaus boosted their price objective on shares of Cavium from $55.00 to $66.00 and gave the company a “hold” rating in a research report on Thursday, April 27th. Longbow Research began coverage on shares of Cavium in a research report on Friday, June 9th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Jefferies Group LLC raised shares of Cavium from a “hold” rating to a “buy” rating and boosted their price objective for the company from $73.00 to $79.00 in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. Cavium has an average rating of “Buy” and an average target price of $74.53.

Shares of Cavium (NASDAQ CAVM) traded up 0.99% during mid-day trading on Wednesday, reaching $62.03. 309,094 shares of the company’s stock traded hands. Cavium has a 12-month low of $50.01 and a 12-month high of $76.26. The firm’s market capitalization is $4.27 billion. The stock has a 50-day moving average price of $63.03 and a 200 day moving average price of $67.86.

Cavium (NASDAQ:CAVM) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. The company 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 firm’s quarterly revenue was up 125.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. Analysts anticipate that Cavium will post $2.79 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was first posted by Watch List News and is the property of of Watch List News. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.watchlistnews.com/bidaskclub-upgrades-cavium-inc-cavm-to-hold/1494856.html.

Hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its stake in shares of 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 buying an additional 200 shares during the period. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Cavium by 73.6% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 628,020 shares of the semiconductor provider’s stock worth $45,004,000 after buying an additional 266,300 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Cavium during the first quarter worth about $594,000. FNY Partners Fund LP increased its stake in shares of Cavium by 1.2% in the first quarter. FNY Partners Fund LP now owns 3,400 shares of the semiconductor provider’s stock worth $243,000 after buying an additional 40 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Cavium by 65.4% in the first quarter. TIAA CREF Investment Management LLC now owns 321,352 shares of the semiconductor provider’s stock worth $23,028,000 after buying an additional 127,041 shares during the period.

About Cavium

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)

Receive News & Ratings for Cavium Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavium Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.