Jefferies Group LLC Downgrades Cavium, Inc. (CAVM) to Hold
Cavium, Inc. (NASDAQ:CAVM) was downgraded by research analysts at Jefferies Group LLC from a “buy” rating to a “hold” rating in a report issued on Tuesday.
A number of other brokerages have also issued reports on CAVM. Morgan Stanley lowered their price target on Cavium from $78.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Cavium in a research note on Thursday, September 14th. Loop Capital reaffirmed a “buy” rating and issued a $81.00 price target on shares of Cavium in a research note on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $66.00 price target on shares of Cavium in a research note on Thursday, October 12th. Finally, Zacks Investment Research lowered Cavium from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Cavium currently has a consensus rating of “Hold” and an average price target of $80.71.
Shares of Cavium (CAVM) opened at $88.60 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.87 and a quick ratio of 2.27. Cavium has a 1-year low of $53.76 and a 1-year high of $88.84. The company has a market capitalization of $6,030.38, a P/E ratio of 80.74, a price-to-earnings-growth ratio of 3.15 and a beta of 1.27.
Cavium (NASDAQ:CAVM) last issued its quarterly earnings data on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Cavium had a positive return on equity of 11.16% and a negative net margin of 19.94%. The company had revenue of $251.99 million for the quarter, compared to analyst estimates of $250.16 million. During the same period last year, the company earned $0.43 earnings per share. Cavium’s quarterly revenue was up 49.9% compared to the same quarter last year. equities research analysts anticipate that Cavium will post 1.33 EPS for the current year.
In other Cavium 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 value of $1,158,300.00. Following the sale, the senior vice president now owns 60,039 shares in the company, valued at $4,636,211.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Anil Kumar Jain sold 8,500 shares of Cavium stock in a transaction 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 sale, the vice president now owns 91,616 shares in the company, valued at approximately $7,869,814.40. The disclosure for this sale can be found here. 4.65% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Frontier Capital Management Co. LLC raised its position in Cavium by 581.0% in the third quarter. Frontier Capital Management Co. LLC now owns 820,499 shares of the semiconductor provider’s stock valued at $54,104,000 after purchasing an additional 700,015 shares during the period. Wesbanco Bank Inc. purchased a new stake in Cavium in the second quarter valued at $3,171,000. Fisher Asset Management LLC raised its position in Cavium by 23.5% in the third quarter. Fisher Asset Management LLC now owns 916,197 shares of the semiconductor provider’s stock valued at $60,414,000 after purchasing an additional 174,209 shares during the period. Verition Fund Management LLC purchased a new stake in Cavium in the second quarter valued at $320,000. Finally, Comgest Global Investors S.A.S. raised its position in Cavium by 24.6% in the second quarter. Comgest Global Investors S.A.S. now owns 30,400 shares of the semiconductor provider’s stock valued at $1,889,000 after purchasing an additional 6,000 shares during the period.
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.
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