Needham & Company LLC Reaffirms “Buy” Rating for Cavium, Inc. (CAVM)
Needham & Company LLC reissued their buy rating on shares of Cavium, Inc. (NASDAQ:CAVM) in a research note issued to investors on Tuesday morning. Needham & Company LLC currently has a $90.00 target price on the semiconductor provider’s stock.
A number of other analysts have also issued reports on the company. Canaccord Genuity reaffirmed a hold rating and issued a $85.00 target price (up previously from $67.00) on shares of Cavium in a report on Tuesday. Macquarie lowered Cavium from an outperform rating to a neutral rating in a report on Tuesday. Morgan Stanley lowered Cavium from an overweight rating to an equal weight rating and set a $77.00 target price on the stock. in a report on Tuesday. Loop Capital lowered Cavium from a buy rating to a hold rating and set a $84.00 target price on the stock. in a report on Tuesday. Finally, Jefferies Group LLC lowered Cavium from a buy rating to a hold rating in a report on Tuesday. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $80.71.
Cavium (CAVM) traded down $0.08 on Tuesday, reaching $88.52. The company’s stock had a trading volume of 134,714 shares, compared to its average volume of 1,008,431. The firm has a market cap of $6,127.20, a price-to-earnings ratio of 82.04, a P/E/G ratio of 3.20 and a beta of 1.27. 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 12-month low of $53.76 and a 12-month high of $88.84.
Cavium (NASDAQ:CAVM) last released its earnings results 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 for the quarter, compared to analyst estimates of $250.16 million. Cavium had a positive return on equity of 11.16% and a negative net margin of 19.94%. The company’s revenue was up 49.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. equities research analysts expect that Cavium will post 1.33 EPS for the current year.
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In other news, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium 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 sale, the senior vice president now owns 60,039 shares of the company’s stock, valued at approximately $4,636,211.58. The sale was disclosed in a legal filing 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 that occurred 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 directly 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 currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in CAVM. Solaris Asset Management LLC boosted its stake in Cavium by 43.4% in the 2nd quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock valued at $143,000 after buying an additional 695 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Cavium by 107.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock valued at $160,000 after buying an additional 1,335 shares in the last quarter. World Asset Management Inc acquired a new stake in Cavium in the 3rd quarter valued at $203,000. Tudor Investment Corp ET AL acquired a new stake in Cavium in the 2nd quarter valued at $228,000. Finally, Pacad Investment Ltd. boosted its stake in Cavium by 42.3% in the 2nd quarter. Pacad Investment Ltd. now owns 3,700 shares of the semiconductor provider’s stock valued at $230,000 after buying an additional 1,100 shares in the last quarter.
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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