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Shares of Cavium (NASDAQ:CAVM) reached a new 52-week high during mid-day trading on Tuesday , Analyst RN reports. The stock traded as high as $52.55 and last traded at $51.85, with a volume of 444,099 shares. The stock had previously closed at $51.21.

Several analysts have recently commented on the stock. Analysts at Canaccord Genuity initiated coverage on shares of Cavium in a research note on Tuesday. They set a “buy” rating and a $62.00 price target on the stock. Separately, analysts at Topeka Capital Markets raised their price target on shares of Cavium from $45.00 to $54.00 in a research note on Thursday, June 5th. They now have a “hold” rating on the stock. Finally, 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, June 4th. They now have a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Cavium presently has an average rating of “Buy” and an average price target of $49.91.

The stock has a 50-day moving average of $45.02 and a 200-day moving average of $40.34. The company has a market cap of $2.753 billion and a P/E ratio of 1249.02.

Cavium (NASDAQ:CAVM) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the 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. On average, analysts predict that Cavium will post $1.41 earnings per share for the current fiscal year.

In other Cavium news, VP Anil Kumar Jain sold 3,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $49.90, for a total value of $169,660.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Cavium, Inc, formerly Cavium Networks, Inc, designs, develops and markets semiconductor processors for intelligent and secure networks.

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