Cavium (NASDAQ:CAVM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “Cavium, Inc. is engaged in providing semiconductor processors that enable networking, communications, storage, video and security applications. The Company offers software compatible processors with functionality in enterprise, data-center, broadband/consumer and access and service provider equipment. Its processors are supported by ecosystem partners that provide operating systems, tools and application support, hardware reference designs and other services. Cavium, Inc., formerly known as Cavium Networks, Inc., is headquartered in Mountain View, California. “

Several other analysts also recently issued reports on CAVM. Raymond James Financial reissued an “outperform” rating and issued a $75.00 price target on shares of Cavium in a research report on Thursday, September 14th. Bank of America reissued a “buy” rating on shares of Cavium in a research report on Sunday, October 1st. KeyCorp raised shares of Cavium from a “sector weight” rating to an “overweight” rating and set a $80.00 price target for the company in a research report on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $66.00 price target on shares of Cavium in a research report on Thursday, October 12th. Finally, Jefferies Group set a $79.00 price target on shares of Cavium and gave the company a “buy” rating in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $78.41.

Cavium (CAVM) traded up $1.62 during midday trading on Tuesday, reaching $87.20. 1,658,800 shares of the company traded hands, compared to its average volume of 1,395,150. Cavium has a twelve month low of $56.96 and a twelve month high of $88.96. 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 firm has a market cap of $5,918.35, a P/E ratio of -30.92, a P/E/G ratio of 2.10 and a beta of 1.35.

Cavium (NASDAQ:CAVM) last posted its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The business had revenue of $251.99 million during the quarter, compared to the consensus estimate of $250.16 million. During the same quarter last year, the firm posted $0.43 EPS. Cavium’s revenue was up 49.9% compared to the same quarter last year. sell-side analysts anticipate that Cavium will post 1.33 EPS for the current fiscal year.

In other news, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction 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 sale, the senior vice president now directly owns 60,039 shares in the company, valued at approximately $4,636,211.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Anil Kumar Jain sold 8,500 shares of Cavium stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $85.90, for a total value of $730,150.00. Following the sale, the vice president now owns 91,616 shares in the company, valued at $7,869,814.40. The disclosure for this sale can be found here. 4.65% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAVM. First Trust Advisors LP raised its stake in shares of Cavium by 739.2% during the 2nd quarter. First Trust Advisors LP now owns 32,108 shares of the semiconductor provider’s stock worth $1,995,000 after purchasing an additional 28,282 shares during the period. SG Americas Securities LLC raised its stake in shares of Cavium by 146.5% during the 2nd quarter. SG Americas Securities LLC now owns 6,281 shares of the semiconductor provider’s stock worth $390,000 after purchasing an additional 3,733 shares during the period. Legal & General Group Plc raised its stake in shares of Cavium by 11.8% during the 2nd quarter. Legal & General Group Plc now owns 24,972 shares of the semiconductor provider’s stock worth $1,551,000 after purchasing an additional 2,631 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Cavium by 107.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock worth $160,000 after purchasing an additional 1,335 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Cavium by 158.6% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 97,068 shares of the semiconductor provider’s stock worth $6,031,000 after purchasing an additional 59,530 shares during the period.

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Cavium Company Profile

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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