Cavium, Inc. (NASDAQ:CAVM) Earns Buy Rating from KeyCorp

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.

TRADEMARK VIOLATION WARNING: This piece was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2017/10/27/cavium-inc-cavm-given-buy-rating-at-keycorp.html.

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.

Analyst Recommendations for Cavium (NASDAQ:CAVM)

Receive News & Ratings for Cavium Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavium Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply