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Analysts at Nomura boosted their target price on shares of Cavium (NASDAQ:CAVM) from $40.00 to $45.00 in a research report issued to clients and investors on Thursday. The firm currently has a “neutral” rating on the stock. Nomura’s target price would indicate a potential downside of 4.36% from the stock’s previous close.

Cavium (NASDAQ:CAVM) traded up 0.86% during mid-day trading on Thursday, hitting $47.05. 1,455,824 shares of the company’s stock traded hands. Cavium has a 52 week low of $32.35 and a 52 week high of $53.32. The stock’s 50-day moving average is $48. and its 200-day moving average is $44.05. The company’s market cap is $2.503 billion.

Cavium (NASDAQ:CAVM) last released its earnings data 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.

Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley raised their price target on shares of Cavium from $52.00 to $55.00 in a research note on Thursday. Separately, analysts at Stifel Nicolaus raised their price target on shares of Cavium from $48.00 to $54.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Cavium from $50.00 to $55.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $52.97.

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

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