Cavium Price Target Cut to $41.00 by Analysts at JPMorgan Chase & Co. (CAVM)
Investment analysts at JPMorgan Chase & Co. cut their price objective on shares of Cavium (NASDAQ:CAVM) from $44.00 to $41.00 in a note issued to investors on Friday, Stock Ratings News reports. JPMorgan Chase & Co.’s price objective indicates a potential upside of 14.88% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of Cavium in a research note to investors on Thursday, October 31st. They now have a $47.00 price target on the stock. Analysts at Oppenheimer upgraded shares of Cavium from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, October 31st. They now have a $48.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Cavium currently has a consensus rating of “Buy” and an average target price of $40.71.
Cavium (NASDAQ:CAVM) traded up 1.36% on Friday, hitting $35.69. The stock had a trading volume of 791,956 shares. Cavium has a one year low of $28.65 and a one year high of $42.41. The stock has a 50-day moving average of $34.53 and a 200-day moving average of $37.23. The company’s market cap is $1.855 billion.
Cavium (NASDAQ:CAVM) last released its earnings data on Wednesday, October 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $79.10 million for the quarter, compared to the consensus estimate of $78.70 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 29.5% on a year-over-year basis. On average, analysts predict that Cavium will post $1.01 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.
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