Brokerages expect Cavium Inc (NASDAQ:CAVM) to post sales of $259.99 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Cavium’s earnings, with the lowest sales estimate coming in at $255.00 million and the highest estimate coming in at $265.00 million. Cavium posted sales of $229.58 million in the same quarter last year, which suggests a positive year over year growth rate of 13.2%. The firm is scheduled to announce its next earnings results on Wednesday, April 25th.
On average, analysts expect that Cavium will report full year sales of $259.99 million for the current financial year, with estimates ranging from $1.09 billion to $1.13 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.26 billion per share, with estimates ranging from $1.22 billion to $1.30 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Cavium.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings results on Wednesday, January 31st. The semiconductor provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. Cavium had a positive return on equity of 14.07% and a negative net margin of 7.00%. The firm had revenue of $260.36 million for the quarter, compared to analysts’ expectations of $260.05 million. During the same period in the prior year, the business posted $0.56 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis.
Several equities research analysts have recently weighed in on CAVM shares. KeyCorp reiterated a “positive” rating and set a $90.00 price target (up from $80.00) on shares of Cavium in a research report on Thursday, November 16th. They noted that the move was a valuation call. BidaskClub cut Cavium from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Zacks Investment Research cut Cavium from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Macquarie cut Cavium from an “outperform” rating to a “neutral” rating in a research report on Tuesday, November 21st. Finally, Benchmark cut Cavium from a “buy” rating to a “hold” rating in a research report on Monday, November 20th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $79.93.
Shares of Cavium (CAVM) traded up $0.24 on Friday, hitting $87.19. The stock had a trading volume of 1,327,423 shares, compared to its average volume of 1,090,068. Cavium has a 12-month low of $56.96 and a 12-month high of $92.66. The company has a market capitalization of $6,090.00, a PE ratio of -73.89, a PEG ratio of 2.37 and a beta of 1.27. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.26 and a current ratio of 2.80.
In related news, VP Anil Kumar Jain sold 16,059 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $87.51, for a total value of $1,405,323.09. Following the transaction, the vice president now directly owns 116,274 shares in the company, valued at $10,175,137.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Vincent P. Pangrazio sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.19, for a total transaction of $697,520.00. Following the completion of the transaction, the senior vice president now owns 54,577 shares in the company, valued at $4,758,568.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,962 shares of company stock worth $31,361,100. 4.65% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of CAVM. Ameriprise Financial Inc. increased its position in shares of Cavium by 42.9% in the third quarter. Ameriprise Financial Inc. now owns 3,425,325 shares of the semiconductor provider’s stock worth $225,867,000 after purchasing an additional 1,027,760 shares during the last quarter. Deutsche Bank AG boosted its stake in Cavium by 194.7% in the fourth quarter. Deutsche Bank AG now owns 1,278,438 shares of the semiconductor provider’s stock worth $107,168,000 after buying an additional 844,622 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in Cavium in the fourth quarter worth approximately $69,825,000. Jennison Associates LLC boosted its stake in Cavium by 50.6% in the third quarter. Jennison Associates LLC now owns 1,939,958 shares of the semiconductor provider’s stock worth $127,921,000 after buying an additional 652,177 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Cavium by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 3,353,670 shares of the semiconductor provider’s stock worth $217,753,000 after buying an additional 478,019 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This article was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright law. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2018/03/14/cavium-inc-cavm-expected-to-post-quarterly-sales-of-259-99-million.html.
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.
Get a free copy of the Zacks research report on Cavium (CAVM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cavium Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavium and related companies with MarketBeat.com's FREE daily email newsletter.