BidaskClub cut shares of Cavium (NASDAQ:CAVM) from a buy rating to a hold rating in a report published on Thursday.

Several other equities analysts also recently issued reports on CAVM. Jefferies Group reiterated a buy rating and issued a $40.00 price objective on shares of Cavium in a research report on Sunday, November 26th. Susquehanna Bancshares reiterated a neutral rating and issued a $83.00 price objective (down previously from $85.00) on shares of Cavium in a research report on Tuesday, November 21st. Needham & Company LLC reiterated a buy rating and issued a $90.00 price objective on shares of Cavium in a research report on Tuesday, November 21st. Canaccord Genuity reiterated a hold rating and issued a $85.00 price objective (up previously from $67.00) on shares of Cavium in a research report on Tuesday, November 21st. Finally, Macquarie downgraded Cavium from an outperform rating to a neutral rating in a research report on Tuesday, November 21st. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Cavium has an average rating of Hold and an average target price of $78.41.

Shares of Cavium (NASDAQ:CAVM) traded up $0.58 during mid-day trading on Thursday, reaching $85.57. The company had a trading volume of 1,454,816 shares, compared to its average volume of 1,056,366. The company has a current ratio of 2.87, a quick ratio of 2.27 and a debt-to-equity ratio of 0.81. The firm has a market cap of $5,880.00, a price-to-earnings ratio of 78.33, a price-to-earnings-growth ratio of 3.40 and a beta of 1.36. Cavium has a twelve month low of $56.96 and a twelve month high of $88.96.

Cavium (NASDAQ:CAVM) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The business had revenue of $251.99 million for the quarter, compared to analyst estimates of $250.16 million. Cavium had a positive return on equity of 11.16% and a negative net margin of 19.94%. Cavium’s quarterly revenue was up 49.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS. research analysts anticipate that Cavium will post 1.33 EPS for the current year.

In other news, VP Anil Kumar Jain sold 8,500 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $85.90, for a total transaction of $730,150.00. Following the completion of the sale, the vice president now owns 91,616 shares in the company, valued at $7,869,814.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Vincent P. Pangrazio sold 15,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $77.22, for a total value of $1,158,300.00. Following the sale, the senior vice president now owns 60,039 shares of the company’s stock, valued at approximately $4,636,211.58. The disclosure for this sale can be found here. Insiders own 4.65% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in shares of Cavium by 42.9% during the third quarter. Ameriprise Financial Inc. now owns 3,425,325 shares of the semiconductor provider’s stock worth $225,867,000 after acquiring an additional 1,027,760 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Cavium by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 3,353,670 shares of the semiconductor provider’s stock worth $217,753,000 after acquiring an additional 478,019 shares during the last quarter. Wasatch Advisors Inc. raised its position in shares of Cavium by 3.9% during the second quarter. Wasatch Advisors Inc. now owns 2,581,155 shares of the semiconductor provider’s stock worth $160,367,000 after acquiring an additional 98,066 shares during the last quarter. Jennison Associates LLC raised its position in shares of Cavium by 50.6% during the third quarter. Jennison Associates LLC now owns 1,939,958 shares of the semiconductor provider’s stock worth $127,921,000 after acquiring an additional 652,177 shares during the last quarter. Finally, Fred Alger Management Inc. raised its position in shares of Cavium by 36.2% during the second quarter. Fred Alger Management Inc. now owns 1,275,464 shares of the semiconductor provider’s stock worth $79,245,000 after acquiring an additional 339,019 shares during the last quarter.

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About Cavium

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.

Analyst Recommendations for Cavium (NASDAQ:CAVM)

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