Cavium Reaches New 12-Month High at $54.99 (CAVM)
Cavium (NASDAQ:CAVM)’s share price hit a new 52-week high during mid-day trading on Tuesday , Analyst RN reports. The stock traded as high as $54.99 and last traded at $54.13, with a volume of 1,364,250 shares trading hands. The stock had previously closed at $52.55.
CAVM has been the subject of a number of recent research reports. Analysts at Raymond James reiterated an “outperform” rating on shares of Cavium in a research note on Thursday, July 31st. They now have a $60.00 price target on the stock, up previously from $49.00. Separately, analysts at Wedbush raised their price target on shares of Cavium from $51.00 to $55.00 in a research note on Thursday, July 31st. They now have an “outperform” rating on the stock. Finally, analysts at Benchmark Co. raised their price target on shares of Cavium from $42.00 to $48.00 in a research note on Thursday, July 31st. They now have a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $53.61.
The stock’s 50-day moving average is $48.3 and its 200-day moving average is $45.25. The company’s market cap is $2.943 billion.
Cavium (NASDAQ:CAVM) last posted its quarterly 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 $1.45 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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