Cavium Inc (CAVM) Receives Consensus Rating of “Buy” from Analysts
Cavium Inc (NASDAQ:CAVM) has been given a consensus rating of “Buy” by the nineteen research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $77.25.
Several analysts have recently weighed in on CAVM shares. Longbow Research started coverage on shares of Cavium in a research report on Friday, June 9th. They set a “buy” rating and a $85.00 price objective for the company. Raymond James Financial, Inc. restated an “outperform” rating and set a $75.00 price objective on shares of Cavium in a research report on Thursday, September 14th. KeyCorp restated a “hold” rating on shares of Cavium in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of Cavium from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Finally, Canaccord Genuity restated a “hold” rating and set a $66.00 price objective on shares of Cavium in a research report on Tuesday, July 11th.
In other Cavium news, COO Muhammad Raghib Hussain sold 20,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $61.85, for a total transaction of $1,237,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.65% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. US Bancorp DE grew its stake in shares of Cavium by 85.1% during the 1st quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock worth $135,000 after purchasing an additional 868 shares during the period. Solaris Asset Management LLC grew its stake in shares of Cavium by 43.4% during the 2nd quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock worth $143,000 after purchasing an additional 695 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Cavium by 107.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock worth $160,000 after purchasing an additional 1,335 shares during the period. Bluestein R H & Co. acquired a new position in shares of Cavium during the 1st quarter worth $215,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Cavium during the 2nd quarter worth $228,000. Institutional investors own 98.38% of the company’s stock.
Cavium (NASDAQ:CAVM) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. The business had revenue of $242.09 million during the quarter, compared to the consensus estimate of $238.93 million. Cavium had a negative net margin of 4.57% and a negative return on equity of 6.13%. The company’s revenue was up 125.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS.
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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.
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