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Cavium (NASDAQ:CAVM) was the recipient of a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 3,809,319 shares, a drop of 19.9% from the April 15th total of 4,756,363 shares, American Banking and Market News reports. Based on an average trading volume of 745,074 shares, the short-interest ratio is currently 5.1 days. Approximately 7.4% of the shares of the company are short sold.

In other Cavium news, CEO Syed Ali sold 150,000 shares of Cavium stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $40.54, for a total transaction of $6,081,000.00. Following the sale, the chief executive officer now directly owns 1,170,412 shares in the company, valued at approximately $47,448,502. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

A number of analysts have recently weighed in on CAVM shares. Analysts at Needham & Company LLC raised their price target on shares of Cavium from $47.00 to $48.00 in a research note on Friday, May 2nd. They now have a “buy” rating on the stock. Separately, analysts at Nomura raised their price target on shares of Cavium from $40.00 to $43.00 in a research note on Friday, May 2nd. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Cavium in a research note on Thursday, May 1st. They now have a $49.00 price target on the stock. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Cavium has a consensus rating of “Buy” and an average price target of $45.97.

Shares of Cavium (NASDAQ:CAVM) opened at 44.23 on Wednesday. Cavium has a 52-week low of $30.78 and a 52-week high of $47.47. The stock’s 50-day moving average is $42.91 and its 200-day moving average is $39.25. The company has a market cap of $2.337 billion and a price-to-earnings ratio of 1109.15.

Cavium (NASDAQ:CAVM) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.02. The company had revenue of $83.20 million for the quarter, compared to the consensus estimate of $81.63 million. Analysts expect that Cavium will post $1.41 EPS 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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