BidaskClub Upgrades Cavium, Inc. (CAVM) to Hold
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.
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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.
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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