Cavium Inc. (CAVM) Given Average Recommendation of “Buy” by Analysts
Shares of Cavium Inc. (NASDAQ:CAVM) have earned an average recommendation of “Buy” from the twenty-two analysts that are covering the company. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $59.27.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Cavium from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Tuesday, September 27th. Susquehanna initiated coverage on shares of Cavium in a research report on Tuesday, September 20th. They set a “positive” rating and a $65.00 price objective for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Cavium in a research report on Tuesday, September 13th. TheStreet raised shares of Cavium from a “sell” rating to a “hold” rating in a research report on Friday, September 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of Cavium in a research report on Thursday, August 25th.
In other news, COO Muhammad Raghib Hussain purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average price of $51.86 per share, for a total transaction of $1,037,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Arthur D. Chadwick purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were purchased at an average price of $51.94 per share, for a total transaction of $519,400.00. Following the acquisition, the vice president now directly owns 102,845 shares of the company’s stock, valued at $5,341,769.30. The disclosure for this purchase can be found here. Insiders own 4.63% of the company’s stock.
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Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in Cavium by 252.1% in the first quarter. Wellington Management Group LLP now owns 2,000,692 shares of the semiconductor provider’s stock worth $122,361,000 after buying an additional 1,432,512 shares in the last quarter. Standard Life Investments LTD raised its stake in Cavium by 19.1% in the second quarter. Standard Life Investments LTD now owns 3,799,853 shares of the semiconductor provider’s stock worth $146,731,000 after buying an additional 608,685 shares in the last quarter. ShearLink Capital LLC purchased a new stake in Cavium during the second quarter worth about $22,767,000. Adage Capital Partners GP L.L.C. raised its stake in Cavium by 252.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 721,592 shares of the semiconductor provider’s stock worth $27,853,000 after buying an additional 517,000 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Cavium by 72.3% in the second quarter. Royal Bank of Canada now owns 1,151,942 shares of the semiconductor provider’s stock worth $44,465,000 after buying an additional 483,391 shares in the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.
Shares of Cavium (NASDAQ:CAVM) traded down 4.1777% on Wednesday, reaching $53.2101. 1,771,134 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $56.03 and its 200-day moving average price is $50.46. The company’s market capitalization is $3.08 billion. Cavium has a 1-year low of $35.90 and a 1-year high of $73.95.
Cavium (NASDAQ:CAVM) last released its earnings results on Tuesday, July 26th. The semiconductor provider reported $0.29 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. The company earned $107.20 million during the quarter, compared to the consensus estimate of $106.70 million. Cavium had a negative net margin of 1.94% and a positive return on equity of 4.39%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. Analysts anticipate that Cavium will post $1.44 EPS for the current fiscal year.
Cavium, Inc is a provider of semiconductor processors, which enables processing for wired and wireless networking, communications, storage, cloud, wireless, security, video and connected home and office applications. The Company’s products include OCTEON, OCTEON Fusion, OCTEON XL, LiquidIO, NITROX, NEURON Search, ThunderX, Xpliant and XPA.
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