Cavium, Inc. (CAVM) Rating Lowered to Hold at Loop Capital
Cavium, Inc. (NASDAQ:CAVM) was downgraded by research analysts at Loop Capital from a “buy” rating to a “hold” rating in a research note issued on Tuesday. They currently have a $84.00 price target on the semiconductor provider’s stock. Loop Capital’s price target points to a potential downside of 5.19% from the company’s previous close.
CAVM has been the subject of a number of other reports. Bank of America Corporation reissued a “buy” rating on shares of Cavium in a report on Sunday, October 1st. Canaccord Genuity reissued a “hold” rating on shares of Cavium in a report on Friday, August 4th. KeyCorp reissued a “hold” rating on shares of Cavium in a report on Friday, September 1st. Zacks Investment Research lowered shares of Cavium from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, BidaskClub lowered shares of Cavium from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Cavium has a consensus rating of “Hold” and a consensus price target of $80.71.
Cavium (NASDAQ:CAVM) opened at $88.60 on Tuesday. Cavium has a fifty-two week low of $53.76 and a fifty-two week high of $88.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.87 and a quick ratio of 2.27. The firm has a market cap of $6,030.38, a price-to-earnings ratio of 80.74, a P/E/G ratio of 3.15 and a beta of 1.27.
Cavium (NASDAQ:CAVM) last posted its earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $251.99 million during the quarter, compared to analyst estimates of $250.16 million. During the same period last year, the firm posted $0.43 earnings per share. Cavium’s revenue for the quarter was up 49.9% compared to the same quarter last year. research analysts predict that Cavium will post 1.33 EPS for the current year.
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In related news, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $77.22, for a total value of $1,158,300.00. Following the completion of the sale, the senior vice president now directly owns 60,039 shares in the company, valued at $4,636,211.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Anil Kumar Jain sold 8,500 shares of Cavium stock in a transaction dated 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 sale, the vice president now owns 91,616 shares of the company’s stock, valued at $7,869,814.40. The disclosure for this sale can be found here. 4.65% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its holdings in shares of Cavium by 42.9% in the third quarter. Ameriprise Financial Inc. now owns 3,425,325 shares of the semiconductor provider’s stock valued at $225,867,000 after acquiring an additional 1,027,760 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Cavium by 16.6% in the third 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. raised its holdings in Cavium by 3.9% in the second 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 raised its holdings in Cavium by 50.6% in the third 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, Fred Alger Management Inc. raised its holdings in Cavium by 36.2% in the second quarter. Fred Alger Management Inc. now owns 1,275,464 shares of the semiconductor provider’s stock worth $79,245,000 after purchasing an additional 339,019 shares in the last quarter.
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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