Cavium, Inc. (CAVM) Rating Increased to Overweight at KeyCorp
Cavium, Inc. (NASDAQ:CAVM) was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued to investors on Monday. The brokerage currently has a $80.00 target price on the semiconductor provider’s stock. KeyCorp’s price objective indicates a potential upside of 16.58% from the company’s current price.
CAVM has been the topic of a number of other reports. BidaskClub upgraded shares of Cavium from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Canaccord Genuity reissued a “hold” rating and issued a $66.00 target price on shares of Cavium in a research report on Tuesday, August 15th. Zacks Investment Research downgraded shares of Cavium from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Longbow Research started coverage on shares of Cavium in a research report on Friday, June 9th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Pacific Crest restated an “equal weight” rating on shares of Cavium in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $77.94.
Cavium (NASDAQ:CAVM) opened at 68.62 on Monday. Cavium has a one year low of $50.81 and a one year high of $76.26. The stock’s market cap is $4.72 billion. The firm’s 50 day moving average price is $63.77 and its 200 day moving average price is $66.94.
Cavium (NASDAQ:CAVM) last released its earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.02. Cavium had a positive return on equity of 5.94% and a negative net margin of 22.82%. The company had revenue of $242.09 million during the quarter, compared to analysts’ expectations of $238.93 million. During the same period in the prior year, the business posted $0.29 EPS. The business’s revenue was up 125.8% on a year-over-year basis. Equities analysts forecast that Cavium will post $2.79 earnings per share for the current year.
In other news, COO Muhammad Raghib Hussain sold 20,000 shares of the business’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 the SEC website. Insiders own 4.65% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CAVM. US Bancorp DE boosted its position in shares of Cavium by 85.1% during the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock worth $135,000 after buying an additional 868 shares during the period. Solaris Asset Management LLC increased its position in Cavium by 43.4% in the 2nd quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock valued at $143,000 after acquiring an additional 695 shares during the period. BNP Paribas Arbitrage SA increased its position in Cavium by 107.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock valued at $160,000 after acquiring an additional 1,335 shares during the period. Bluestein R H & Co. acquired a new stake in Cavium in the 1st quarter valued at approximately $215,000. Finally, FNY Partners Fund LP increased its position in Cavium by 1.2% in the 1st quarter. FNY Partners Fund LP now owns 3,400 shares of the semiconductor provider’s stock valued at $243,000 after acquiring an additional 40 shares during the period. 98.38% of the stock is currently owned by institutional investors.
Cavium Company Profile
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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