Cavium’s (NASDAQ:CAVM) “Buy” Rating Reiterated at Needham & Company LLC

Cavium (NASDAQ:CAVM)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report released on Tuesday, November 21st. They presently have a $90.00 target price on the semiconductor provider’s stock. Needham & Company LLC’s price target suggests a potential upside of 5.89% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Bank of America reissued a “buy” rating on shares of Cavium in a research note on Sunday, October 1st. Loop Capital reaffirmed a “buy” rating and set a $81.00 price objective on shares of Cavium in a research note on Tuesday, August 22nd. MKM Partners reaffirmed a “buy” rating and set a $81.00 price objective on shares of Cavium in a research note on Wednesday, August 16th. KeyCorp reiterated a “buy” rating and set a $80.00 target price on shares of Cavium in a report on Tuesday, October 17th. Finally, Jefferies Group set a $79.00 target price on Cavium and gave the stock a “buy” rating in a report on Thursday, October 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $78.41.

Shares of Cavium (CAVM) traded up $0.39 during midday trading on Tuesday, hitting $84.99. 1,897,481 shares of the company’s stock traded hands, compared to its average volume of 1,054,678. The stock has a market cap of $5,869.25, a price-to-earnings ratio of 78.58, a P/E/G ratio of 3.07 and a beta of 1.36. Cavium has a 52 week low of $56.96 and a 52 week high of $88.96. The company has a quick ratio of 2.27, a current ratio of 2.87 and a debt-to-equity ratio of 0.81.

Cavium (NASDAQ:CAVM) last issued its earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The company had revenue of $251.99 million for the quarter, compared to analyst estimates of $250.16 million. During the same period in the previous year, the firm earned $0.43 EPS. The business’s revenue was up 49.9% on a year-over-year basis. equities research analysts forecast that Cavium will post 1.33 earnings per share for the current year.

In other news, SVP Vincent P. Pangrazio sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 60,039 shares of the company’s stock, valued at approximately $4,636,211.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Anil Kumar Jain sold 8,500 shares of the firm’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 $7,869,814.40. The disclosure for this sale can be found here. Company insiders own 4.65% of the company’s stock.

Several hedge funds have recently modified their holdings of CAVM. Solaris Asset Management LLC grew its holdings 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 during the last quarter. BNP Paribas Arbitrage SA grew its holdings 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 during the last quarter. World Asset Management Inc acquired a new stake in Cavium in the 3rd quarter valued at approximately $203,000. Tudor Investment Corp ET AL acquired a new stake in Cavium in the 2nd quarter valued at approximately $228,000. Finally, Pacad Investment Ltd. grew its holdings 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 during the last quarter.

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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)

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