Cavium Inc. (CAVM) Receives $58.38 Consensus Target Price from Brokerages
Shares of Cavium Inc. (NASDAQ:CAVM) have been assigned a consensus rating of “Hold” from the twenty-one brokerages that are currently covering the stock. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $58.38.
CAVM has been the subject of several recent research reports. Benchmark Co. upped their price target on shares of Cavium from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Needham & Company LLC restated a “buy” rating and set a $66.00 price target (down previously from $107.20) on shares of Cavium in a research report on Wednesday, July 27th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Cavium in a research report on Tuesday, September 13th. Susquehanna initiated coverage on shares of Cavium in a research report on Tuesday, September 20th. They set a “positive” rating and a $65.00 price target for the company. Finally, Pacific Crest restated a “hold” rating on shares of Cavium in a research report on Wednesday, July 27th.
In other Cavium news, VP Arthur D. Chadwick bought 20,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were bought at an average price of $55.33 per share, for a total transaction of $1,106,600.00. Following the acquisition, the vice president now directly owns 122,845 shares of the company’s stock, valued at $6,797,013.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.63% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Amalgamated Bank increased its position in shares of Cavium by 2.1% in the second quarter. Amalgamated Bank now owns 5,945 shares of the semiconductor provider’s stock worth $300,000 after buying an additional 120 shares in the last quarter. Principal Financial Group Inc. increased its position in Cavium by 1.8% in the second quarter. Principal Financial Group Inc. now owns 7,527 shares of the semiconductor provider’s stock worth $291,000 after buying an additional 131 shares in the last quarter. Arcadia Investment Management Corp MI increased its position in Cavium by 0.4% in the third quarter. Arcadia Investment Management Corp MI now owns 47,129 shares of the semiconductor provider’s stock worth $2,743,000 after buying an additional 210 shares in the last quarter. Geneva Advisors LLC increased its position in Cavium by 2.2% in the third quarter. Geneva Advisors LLC now owns 13,395 shares of the semiconductor provider’s stock worth $780,000 after buying an additional 285 shares in the last quarter. 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 in the last quarter.
Shares of Cavium (NASDAQ:CAVM) opened at 55.36 on Wednesday. Cavium has a 1-year low of $35.90 and a 1-year high of $69.05. The stock’s 50 day moving average is $55.39 and its 200 day moving average is $49.96. The company’s market cap is $3.71 billion.
Cavium (NASDAQ:CAVM) last released its earnings results on Tuesday, November 1st. The semiconductor provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. Cavium had a negative net margin of 5.57% and a negative return on equity of 0.51%. The firm earned $168.10 million during the quarter, compared to analyst estimates of $159.55 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 59.9% compared to the same quarter last year. On average, analysts predict that Cavium will post $1.54 earnings per share for the current year.
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.
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