Cavium Receives Average Rating of “Buy” from Brokerages (NASDAQ:CAVM)
Shares of Cavium (NASDAQ:CAVM) have been given an average recommendation of “Buy” by the twenty brokerages that are covering the company, AnalystRatings.Net reports. Six investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $53.61.
A number of research firms have recently commented on CAVM. 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.
Shares of Cavium (NASDAQ:CAVM) opened at 52.55 on Friday. 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 $48.3 and its 200-day moving average is $45.25. The company’s market cap is $2.817 billion.
Cavium (NASDAQ:CAVM) last announced its 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 $1.45 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.
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.