Cavium Inc (CAVM) Receives Consensus Rating of “Hold” from Analysts
Shares of Cavium Inc (NASDAQ:CAVM) have been assigned a consensus recommendation of “Hold” from the twenty analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $78.17.
CAVM has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Cavium from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Monday, November 6th. Bank of America restated a “buy” rating on shares of Cavium in a research report on Sunday, October 1st. Needham & Company LLC restated a “buy” rating and issued a $78.00 target price on shares of Cavium in a research report on Thursday, November 2nd. Loop Capital restated a “buy” rating and issued a $81.00 target price on shares of Cavium in a research report on Thursday, November 2nd. Finally, Jefferies Group set a $79.00 target price on shares of Cavium and gave the company a “buy” rating in a research report on Thursday, October 19th.
In other Cavium news, VP Anil Kumar Jain sold 8,500 shares of the company’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 filing with the SEC, which is available at this hyperlink. Also, SVP Vincent P. Pangrazio sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were 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 corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. increased its position in Cavium by 42.9% in the 3rd 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 during the period. JPMorgan Chase & Co. increased its position in Cavium by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,353,670 shares of the semiconductor provider’s stock valued at $217,753,000 after acquiring an additional 478,019 shares during the period. Wasatch Advisors Inc. increased its position in Cavium by 3.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,581,155 shares of the semiconductor provider’s stock valued at $160,367,000 after acquiring an additional 98,066 shares during the period. Jennison Associates LLC increased its position in Cavium by 50.6% in the 3rd quarter. Jennison Associates LLC now owns 1,939,958 shares of the semiconductor provider’s stock valued at $127,921,000 after acquiring an additional 652,177 shares during the period. Finally, Fred Alger Management Inc. increased its position in Cavium by 36.2% in the 2nd quarter. Fred Alger Management Inc. now owns 1,275,464 shares of the semiconductor provider’s stock valued at $79,245,000 after acquiring an additional 339,019 shares during the period.
Cavium (CAVM) traded down $0.15 during midday trading on Friday, reaching $89.80. 882,915 shares of the company’s stock were exchanged, compared to its average volume of 848,242. The company has a quick ratio of 2.27, a current ratio of 2.87 and a debt-to-equity ratio of 0.81. The company has a market cap of $6,220.56, a P/E ratio of -31.84, a P/E/G ratio of 2.20 and a beta of 1.35. Cavium has a 52-week low of $56.96 and a 52-week high of $90.83.
Cavium (NASDAQ:CAVM) last posted its quarterly earnings data on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. The firm had revenue of $251.99 million during the quarter, compared to the consensus estimate of $250.16 million. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The business’s revenue for the quarter was up 49.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 EPS. research analysts forecast that Cavium will post 1.33 earnings per share for the current fiscal year.
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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