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Analysts at Morgan Stanley lifted their price objective on shares of Cavium (NASDAQ:CAVM) from $52.00 to $55.00 in a research report issued to clients and investors on Thursday. Morgan Stanley’s price objective indicates a potential upside of 16.90% from the company’s current price.

CAVM has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Barclays initiated coverage on shares of Cavium in a research note on Wednesday, July 9th. They set an “outperform” rating and a $57.00 price target on the stock. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus 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 one year low of $32.35 and a one year 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 announced its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, analysts predict that Cavium will post $1.44 earnings per share 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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