Cavium PT Raised to $55.00 at Wedbush (CAVM)
Equities research analysts at Wedbush lifted their target price on shares of Cavium (NASDAQ:CAVM) from $51.00 to $55.00 in a research note issued to investors on Thursday. The firm currently has an “outperform” rating on the stock. Wedbush’s target price points to a potential upside of 16.90% from the stock’s previous close.
A number of other firms have also recently commented on CAVM. Analysts at Benchmark Co. raised their price target on shares of Cavium from $42.00 to $48.00 in a research note on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Needham & Company LLC raised their price target on shares of Cavium from $56.00 to $58.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Topeka Capital Markets cut their price target on shares of Cavium from $54.00 to $52.00 in a research note on Thursday. They now have a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $52.97.
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 posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.23 earnings per share. Cavium’s revenue was up 22.2% compared to the same quarter last year. 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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