Cavium Price Target Raised to $46.00 at Maxim Group (CAVM)
Equities researchers at Maxim Group increased their price objective on shares of Cavium (NASDAQ:CAVM) from $42.00 to $46.00 in a research report issued on Friday, StockRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Maxim Group’s price target points to a potential upside of 14.43% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley initiated coverage on shares of Cavium (NASDAQ:CAVM) in a research note to investors on Thursday. They set an “overweight” rating and a $48.00 price target on the stock. Separately, analysts at Lazard Capital Markets downgraded shares of Cavium (NASDAQ:CAVM) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, September 17th. They noted that the move was a valuation call. Finally, analysts at Nomura initiated coverage on shares of Cavium (NASDAQ:CAVM) in a research note to investors on Tuesday, July 16th. They set a “reduce” rating and a $28.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Cavium has an average rating of “Hold” and an average target price of $36.64.
Cavium (NASDAQ:CAVM) opened at 40.20 on Friday. Cavium has a 52 week low of $28.65 and a 52 week high of $41.81. The stock has a 50-day moving average of $38.41 and a 200-day moving average of $35.72. The company’s market cap is $2.074 billion.
Cavium (NASDAQ:CAVM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $74.20 million for the quarter, compared to the consensus estimate of $74.10 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, analysts predict that Cavium will post $0.97 earnings per share for the current fiscal year.
Cavium, Inc, formerly Cavium Networks, Inc, designs, develops and markets semiconductor processors for intelligent and secure networks.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.