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Research analysts at Pacific Crest upped their price target on shares of Cavium (NASDAQ:CAVM) from $48.00 to $55.00 in a report released on Thursday. The firm currently has an “outperform” rating on the stock. Pacific Crest’s target price points to a potential upside of 16.90% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Cavium from $50.00 to $55.00 in a research note on Thursday. They now have an “overweight” rating on the stock. Separately, analysts at Nomura raised their price target on shares of Cavium from $40.00 to $45.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of Cavium from $52.00 to $55.00 in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $52.97.

Shares of Cavium (NASDAQ:CAVM) traded up 0.86% on Thursday, hitting $47.05. 1,455,824 shares of the company’s stock traded hands. Cavium has a 1-year low of $32.35 and a 1-year high of $53.32. The stock has a 50-day moving average of $48. and a 200-day moving average of $44.05. The company’s market cap is $2.503 billion.

Cavium (NASDAQ:CAVM) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.02. The company had revenue of $90.70 million for the quarter, compared to the consensus estimate of $90.04 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. Analysts expect that Cavium will post $1.44 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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