KeyCorp reissued their buy rating on shares of Cavium, Inc. (NASDAQ:CAVM) in a research report report published on Tuesday, October 17th. The firm currently has a $80.00 target price on the semiconductor provider’s stock.
CAVM has been the topic of several other research reports. MKM Partners reaffirmed a buy rating and set a $81.00 target price on shares of Cavium in a research report on Wednesday, August 16th. Barclays PLC upgraded Cavium from an equal weight rating to an overweight rating in a report on Friday, July 21st. Loop Capital reiterated a buy rating and set a $81.00 price target on shares of Cavium in a report on Tuesday, August 22nd. BidaskClub upgraded Cavium from a sell rating to a hold rating in a research note on Wednesday, July 12th. Finally, Canaccord Genuity restated a hold rating on shares of Cavium in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $78.13.
Cavium (NASDAQ:CAVM) traded up 1.09% during trading on Tuesday, hitting $67.92. 141,069 shares of the stock traded hands. The stock’s market cap is $4.67 billion. Cavium has a 52 week low of $50.81 and a 52 week high of $76.26. The firm’s 50-day moving average is $66.88 and its 200 day moving average is $66.73.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor provider reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $242.09 million during the quarter, compared to analysts’ expectations of $238.93 million. Cavium had a positive return on equity of 5.94% and a negative net margin of 22.82%. The company’s revenue for the quarter was up 125.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. Equities research analysts forecast that Cavium will post $2.79 earnings per share for the current fiscal year.
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In other Cavium news, COO Muhammad Raghib Hussain sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $61.85, for a total transaction of $1,237,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.65% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of CAVM. US Bancorp DE raised its stake in Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock worth $135,000 after buying an additional 868 shares in the last quarter. Solaris Asset Management LLC increased its position in shares of Cavium by 43.4% during the second quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock worth $143,000 after purchasing an additional 695 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Cavium by 107.3% during the second 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 in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Cavium during the second quarter worth $228,000. Finally, Pacad Investment Ltd. increased its position in shares of Cavium by 42.3% during the second quarter. Pacad Investment Ltd. now owns 3,700 shares of the semiconductor provider’s stock worth $230,000 after purchasing an additional 1,100 shares in the last quarter. 98.60% of the stock is owned by institutional investors.
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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