Cavium Inc. (NASDAQ:CAVM) has been assigned an average rating of “Buy” from the twenty-two ratings firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $59.27.

CAVM has been the subject of several recent research reports. Zacks Investment Research upgraded Cavium from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Tuesday, September 27th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price target on shares of Cavium in a research report on Thursday, August 25th. Brean Capital reiterated a “buy” rating and issued a $57.00 price target (down from $60.00) on shares of Cavium in a research report on Thursday, July 28th. Pacific Crest reiterated a “hold” rating on shares of Cavium in a research report on Wednesday, July 27th. Finally, TheStreet upgraded Cavium from a “sell” rating to a “hold” rating in a research report on Friday, September 2nd.

In other Cavium news, VP Arthur D. Chadwick purchased 20,000 shares of the stock in a transaction on Thursday, August 25th. The stock was acquired at an average price of $55.33 per share, with a total value of $1,106,600.00. Following the transaction, the vice president now directly owns 122,845 shares of the company’s stock, valued at approximately $6,797,013.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Arthur D. Chadwick purchased 10,000 shares of the stock in a transaction on Tuesday, August 16th. The shares were acquired at an average cost of $51.94 per share, with a total value of $519,400.00. Following the transaction, the vice president now directly owns 102,845 shares in the company, valued at $5,341,769.30. The disclosure for this purchase can be found here. Company insiders own 4.63% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. purchased a new position in Cavium during the third quarter worth $106,000. Pacer Advisors Inc. purchased a new position in Cavium during the second quarter worth $177,000. Seven Eight Capital LLC purchased a new position in Cavium during the second quarter worth $185,000. BlackRock Inc. increased its position in Cavium by 31.7% in the second quarter. BlackRock Inc. now owns 4,909 shares of the semiconductor provider’s stock worth $189,000 after buying an additional 1,181 shares during the period. Finally, Prudential Financial Inc. increased its position in Cavium by 5.4% in the second quarter. Prudential Financial Inc. now owns 5,892 shares of the semiconductor provider’s stock worth $227,000 after buying an additional 300 shares during the period. 93.92% of the stock is owned by institutional investors and hedge funds.

Cavium (NASDAQ:CAVM) opened at 53.58 on Wednesday. The company’s market capitalization is $3.10 billion. The firm has a 50-day moving average price of $55.89 and a 200 day moving average price of $50.45. Cavium has a 52-week low of $35.90 and a 52-week high of $73.95.

Cavium (NASDAQ:CAVM) last announced its quarterly earnings results on Tuesday, July 26th. The semiconductor provider reported $0.29 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The company earned $107.20 million during the quarter, compared to analysts’ expectations of $106.70 million. Cavium had a positive return on equity of 4.39% and a negative net margin of 1.94%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. On average, analysts predict that Cavium will post $1.44 earnings per share for the current fiscal year.

Cavium Company Profile

Cavium, Inc is a provider of semiconductor processors, which enables processing for wired and wireless networking, communications, storage, cloud, wireless, security, video and connected home and office applications. The Company’s products include OCTEON, OCTEON Fusion, OCTEON XL, LiquidIO, NITROX, NEURON Search, ThunderX, Xpliant and XPA.

5 Day Chart for NASDAQ:CAVM

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