Cavium, Inc. (CAVM) Earns Equal Weight Rating from Pacific Crest
Cavium, Inc. (NASDAQ:CAVM)‘s stock had its “equal weight” rating reissued by research analysts at Pacific Crest in a report issued on Thursday.
Other research analysts also recently issued research reports about the company. BidaskClub downgraded Cavium from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Longbow Research initiated coverage on Cavium in a research note on Friday, June 9th. They set a “buy” rating and a $85.00 price target for the company. Argus lifted their price target on Cavium from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, March 14th. Rosenblatt Securities initiated coverage on Cavium in a research note on Wednesday, February 22nd. They set a “neutral” rating for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $77.00 price target on shares of Cavium in a research note on Monday, February 27th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $72.79.
Shares of Cavium (NASDAQ CAVM) traded up 0.007% during midday trading on Thursday, reaching $66.885. 537,935 shares of the company traded hands. The stock’s market capitalization is $4.54 billion. The stock’s 50-day moving average is $71.07 and its 200-day moving average is $67.88. Cavium has a 1-year low of $35.90 and a 1-year high of $76.26.
Cavium (NASDAQ:CAVM) last released its earnings results on Wednesday, April 26th. The semiconductor provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.09. Cavium had a negative net margin of 26.52% and a positive return on equity of 4.05%. The business had revenue of $229.58 million during the quarter, compared to analyst estimates of $227.22 million. During the same period last year, the business posted $0.25 EPS. Cavium’s revenue was up 125.3% compared to the same quarter last year. Equities analysts predict that Cavium will post $2.78 EPS for the current fiscal year.
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In related news, VP Arthur D. Chadwick sold 40,000 shares of Cavium stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $75.14, for a total transaction of $3,005,600.00. Following the completion of the sale, the vice president now owns 75,383 shares in the company, valued at approximately $5,664,278.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $75.73, for a total value of $1,135,950.00. Following the sale, the senior vice president now owns 60,039 shares of the company’s stock, valued at approximately $4,546,753.47. The disclosure for this sale can be found here. Company insiders own 4.65% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in Cavium by 1.2% in the first quarter. FMR LLC now owns 10,174,578 shares of the semiconductor provider’s stock valued at $729,110,000 after buying an additional 124,068 shares during the period. Vanguard Group Inc. boosted its stake in Cavium by 4.3% in the first quarter. Vanguard Group Inc. now owns 5,121,457 shares of the semiconductor provider’s stock valued at $367,004,000 after buying an additional 211,144 shares during the period. Wellington Management Group LLP boosted its stake in Cavium by 8.1% in the first quarter. Wellington Management Group LLP now owns 4,491,559 shares of the semiconductor provider’s stock valued at $321,865,000 after buying an additional 336,243 shares during the period. BlackRock Inc. boosted its stake in Cavium by 64,275.6% in the first quarter. BlackRock Inc. now owns 4,382,691 shares of the semiconductor provider’s stock valued at $314,065,000 after buying an additional 4,375,883 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Cavium by 29.5% in the first quarter. JPMorgan Chase & Co. now owns 2,964,350 shares of the semiconductor provider’s stock valued at $212,424,000 after buying an additional 675,059 shares during the period.
Cavium, Inc is a provider of integrated semiconductor processors that enable intelligent processing for wired and wireless infrastructure and cloud for networking, communications, storage and security applications. The Company’s products consist of multi-core processors for embedded and data center applications, network connectivity for server and switches, storage connectivity, and security processors for offload and appliance.
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