Cavium (CAVM) Announces Quarterly Results
Cavium (NASDAQ:CAVM) issued its quarterly earnings data on Wednesday. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.01, Analyst Ratings News reports. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $81.12 million.
Several analysts have recently commented on the stock. Analysts at Wedbush upgraded shares of Cavium from a “neutral” rating to an “outperform” rating in a research note to investors on Monday. They now have a $42.00 price target on the stock, up previously from $40.00. On a related note, analysts at Zacks downgraded shares of Cavium from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, January 21st. They now have a $33.90 price target on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Cavium from $44.00 to $41.00 in a research note to investors on Friday, January 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $40.37.
Cavium (NASDAQ:CAVM) traded down 1.36% during mid-day trading on Wednesday, hitting $34.86. 932,330 shares of the company’s stock traded hands. Cavium has a 52-week low of $28.65 and a 52-week high of $42.41. The stock’s 50-day moving average is $34.52 and its 200-day moving average is $37.21. The company’s market cap is $1.812 billion.
Cavium, Inc, formerly Cavium Networks, Inc, designs, develops and markets semiconductor processors for intelligent and secure networks.
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