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Analysts at Topeka Capital Markets increased their price target on shares of Cavium (NASDAQ:CAVM) from $45.00 to $54.00 in a research report issued to clients and investors on Thursday. The firm currently has a “hold” rating on the stock. Topeka Capital Markets’ target price would indicate a potential upside of 8.26% from the company’s current price.

CAVM has been the subject of a number of other recent research reports. Analysts at Needham & Company LLC raised their price target on shares of Cavium from $48.00 to $56.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Cavium in a research note on Tuesday, May 27th. They now have a $65.00 price target on the stock, up previously from $45.00. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $49.10.

In other Cavium news, VP Anil Kumar Jain unloaded 3,400 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $49.90, for a total value of $169,660.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Cavium (NASDAQ:CAVM) traded up 4.27% during mid-day trading on Thursday, hitting $52.01. The stock had a trading volume of 1,129,804 shares. Cavium has a 1-year low of $31.54 and a 1-year high of $50.38. The stock has a 50-day moving average of $44.31 and a 200-day moving average of $39.9. The company has a market cap of $2.748 billion and a price-to-earnings ratio of 1216.59. Cavium also saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 2,899,032 shares, a decrease of 23.9% from the April 30th total of 3,809,319 shares. Approximately 5.6% of the company’s shares are short sold. Based on an average daily volume of 886,276 shares, the short-interest ratio is presently 3.3 days.

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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