Zacks Investment Research lowered shares of Cavium Inc. (NASDAQ:CAVM) from a buy rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Cavium, Inc. is engaged in providing semiconductor processors that enable networking, communications, storage, video and security applications. The Company offers software compatible processors with functionality in enterprise, data-center, broadband/consumer and access and service provider equipment. Its processors are supported by ecosystem partners that provide operating systems, tools and application support, hardware reference designs and other services. Cavium, Inc., formerly known as Cavium Networks, Inc., is headquartered in Mountain View, California. “

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. restated an overweight rating on shares of Cavium in a research note on Tuesday, September 13th. Brean Capital restated a buy rating and set a $57.00 price objective (down from $60.00) on shares of Cavium in a research note on Thursday, July 28th. Susquehanna started coverage on shares of Cavium in a research note on Tuesday, September 20th. They set a positive rating and a $65.00 price objective for the company. Needham & Company LLC restated a buy rating and set a $66.00 price objective on shares of Cavium in a research note on Thursday, August 25th. Finally, Barclays PLC increased their price objective on shares of Cavium from $54.00 to $60.00 and gave the stock an overweight rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. Cavium currently has a consensus rating of Hold and a consensus price target of $61.03.

Analyst Recommendations for Cavium (NASDAQ:CAVM)

Cavium (NASDAQ:CAVM) traded down 1.18% during trading on Tuesday, hitting $53.67. The stock had a trading volume of 63,932 shares. The company’s market capitalization is $3.11 billion. Cavium has a 12-month low of $35.90 and a 12-month high of $73.95. The stock has a 50 day moving average price of $55.82 and a 200 day moving average price of $50.17.

Cavium (NASDAQ:CAVM) last released its earnings results on Tuesday, July 26th. The semiconductor provider reported $0.29 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.29. The firm 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 company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Equities research analysts forecast that Cavium will post $1.44 earnings per share for the current year.

In related news, VP Arthur D. Chadwick purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was purchased at an average cost of $51.94 per share, with a total value of $519,400.00. Following the completion of the purchase, the vice president now owns 102,845 shares in the company, valued at approximately $5,341,769.30. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Arthur D. Chadwick purchased 20,000 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was bought at an average cost of $55.33 per share, with a total value of $1,106,600.00. Following the completion of the purchase, the vice president now owns 122,845 shares of the company’s stock, valued at approximately $6,797,013.85. The disclosure for this purchase can be found here. 4.63% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. First Quadrant L P CA bought a new stake in Cavium during the third quarter valued at $728,000. Regent Investment Management LLC bought a new stake in Cavium during the third quarter valued at $419,000. Summit Creek Advisors LLC increased its stake in Cavium by 68.5% in the third quarter. Summit Creek Advisors LLC now owns 248,223 shares of the semiconductor provider’s stock valued at $14,447,000 after buying an additional 100,943 shares during the period. Nisa Investment Advisors LLC increased its stake in Cavium by 54.0% in the third quarter. Nisa Investment Advisors LLC now owns 18,020 shares of the semiconductor provider’s stock valued at $1,049,000 after buying an additional 6,320 shares during the period. Finally, Cupps Capital Management LLC increased its stake in Cavium by 114.7% in the third quarter. Cupps Capital Management LLC now owns 56,822 shares of the semiconductor provider’s stock valued at $3,307,000 after buying an additional 30,356 shares during the period. 94.01% of the stock is owned by hedge funds and other institutional investors.

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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