Cavium Hits New 52-Week High at $56.60 (CAVM)
Cavium (NASDAQ:CAVM)’s share price reached a new 52-week high during mid-day trading on Friday , American Banking and Market News reports. The stock traded as high as $56.60 and last traded at $56.00, with a volume of 205,749 shares trading hands. The stock had previously closed at $55.33.
CAVM has been the subject of a number of recent research reports. Analysts at Jefferies Group reiterated a “buy” rating on shares of Cavium in a research note on Friday. They now have a $64.00 price target on the stock, up previously from $56.00. Separately, 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. Finally, 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. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Cavium presently has a consensus rating of “Buy” and an average target price of $54.06.
The stock has a 50-day moving average of $49.66 and a 200-day moving average of $46.18. The company’s market cap is $3.008 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. Analysts expect that Cavium will post $1.45 EPS 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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