Share on StockTwits

Stock analysts at JPMorgan Chase & Co. upped their target price on shares of Cavium (NASDAQ:CAVM) from $50.00 to $55.00 in a report issued on Thursday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 16.90% from the stock’s previous close.

Cavium (NASDAQ:CAVM) traded up 0.86% on Thursday, hitting $47.05. The stock had a trading volume of 1,455,824 shares. 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. On average, analysts predict that Cavium will post $1.44 earnings per share for the current fiscal year.

A number of other firms have also recently commented on CAVM. 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. Separately, analysts at Morgan Stanley raised their price target on shares of Cavium from $52.00 to $55.00 in a research note on Thursday. Finally, 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. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $52.97.

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

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.