Raymond James Financial downgraded shares of Cavium (NASDAQ:CAVM) from an outperform rating to a market perform rating in a research report released on Friday morning, Marketbeat reports. They currently have $80.00 price objective on the semiconductor provider’s stock.

CAVM has been the subject of several other reports. Jefferies Group set a $79.00 target price on shares of Cavium and gave the company a buy rating in a report on Thursday, October 19th. Stifel Nicolaus lifted their target price on shares of Cavium from $68.00 to $81.00 and gave the company a hold rating in a report on Thursday. Benchmark lowered shares of Cavium from a buy rating to a hold rating in a report on Monday, November 20th. Needham & Company LLC reiterated a buy rating and set a $78.00 target price on shares of Cavium in a report on Thursday, November 2nd. Finally, Loop Capital reiterated a buy rating and set a $81.00 target price on shares of Cavium in a report on Thursday, November 2nd. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $80.25.

Cavium (NASDAQ:CAVM) traded down $0.53 during trading on Friday, reaching $86.57. The company’s stock had a trading volume of 1,624,777 shares, compared to its average volume of 1,004,642. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.27 and a current ratio of 2.87. The company has a market cap of $6,023.46, a PE ratio of 60.91, a price-to-earnings-growth ratio of 2.13 and a beta of 1.33. Cavium has a fifty-two week low of $56.96 and a fifty-two week high of $90.83.

Cavium (NASDAQ:CAVM) last posted its quarterly earnings data on Wednesday, January 31st. The semiconductor provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. Cavium had a positive return on equity of 14.28% and a negative net margin of 7.00%. The business had revenue of $260.36 million for the quarter, compared to analysts’ expectations of $260.05 million. During the same period in the previous year, the firm posted $0.56 EPS. The business’s revenue was up 15.1% on a year-over-year basis. equities analysts forecast that Cavium will post 2.18 EPS for the current year.

In related news, VP Anil Kumar Jain sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $85.90, for a total value of $730,150.00. Following the completion of the transaction, the vice president now directly owns 91,616 shares in the company, valued at approximately $7,869,814.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 owns 60,039 shares of the company’s stock, valued at $4,636,211.58. The disclosure for this sale can be found here. 4.65% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its holdings in shares of Cavium by 42.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,425,325 shares of the semiconductor provider’s stock worth $225,867,000 after acquiring an additional 1,027,760 shares during the period. JPMorgan Chase & Co. increased its stake in Cavium by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,353,670 shares of the semiconductor provider’s stock worth $217,753,000 after purchasing an additional 478,019 shares in the last quarter. Wasatch Advisors Inc. increased its stake in Cavium by 3.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,581,155 shares of the semiconductor provider’s stock worth $160,367,000 after purchasing an additional 98,066 shares in the last quarter. Jennison Associates LLC increased its stake in Cavium by 50.6% in the 3rd quarter. Jennison Associates LLC now owns 1,939,958 shares of the semiconductor provider’s stock worth $127,921,000 after purchasing an additional 652,177 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in Cavium by 10.8% in the 3rd quarter. Brown Advisory Inc. now owns 1,236,196 shares of the semiconductor provider’s stock worth $81,514,000 after purchasing an additional 120,404 shares in the last quarter. Institutional investors own 99.05% of the company’s stock.

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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)

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