Cavium, Inc. (NASDAQ:CAVM) was upgraded by research analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday.

CAVM has been the topic of several other reports. Macquarie started coverage on shares of Cavium in a report on Thursday, March 30th. They set an “outperform” rating and a $85.00 price target on the stock. BidaskClub cut shares of Cavium from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Morgan Stanley boosted their target price on shares of Cavium from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. MKM Partners reiterated a “buy” rating and issued a $81.00 target price (up from $77.00) on shares of Cavium in a research note on Monday, May 1st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $73.00 target price (up from $69.00) on shares of Cavium in a research note on Thursday, April 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Cavium presently has an average rating of “Buy” and a consensus price target of $73.50.

Cavium (NASDAQ:CAVM) traded down 1.062% during trading on Friday, hitting $66.605. 191,576 shares of the stock were exchanged. Cavium has a 52 week low of $42.22 and a 52 week high of $76.26. The firm’s 50-day moving average is $66.62 and its 200 day moving average is $68.03. The firm’s market cap is $4.52 billion.

Cavium (NASDAQ:CAVM) last posted its earnings results on Wednesday, April 26th. The semiconductor provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.29 by $0.09. The business had revenue of $229.58 million for the quarter, compared to the consensus estimate of $227.22 million. Cavium had a positive return on equity of 4.05% and a negative net margin of 26.52%. The company’s revenue was up 125.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. Analysts expect that Cavium will post $2.78 earnings per share for the current fiscal year.

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In other news, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $75.73, for a total value of $1,135,950.00. Following the completion of the sale, the senior vice president now directly owns 60,039 shares in the company, valued at $4,546,753.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Arthur D. Chadwick sold 40,000 shares of Cavium stock in a transaction that occurred on 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 of the company’s stock, valued at $5,664,278.62. The disclosure for this sale can be found here. 4.65% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in CAVM. IFP Advisors Inc increased its position in Cavium by 6.9% in the first quarter. IFP Advisors Inc now owns 1,559 shares of the semiconductor provider’s stock worth $112,000 after buying an additional 101 shares during the last quarter. Solaris Asset Management LLC increased its position in Cavium by 52.4% in the first quarter. Solaris Asset Management LLC now owns 1,600 shares of the semiconductor provider’s stock worth $115,000 after buying an additional 550 shares during the last quarter. US Bancorp DE increased its position in Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock worth $135,000 after buying an additional 868 shares during the last quarter. Bluestein R H & Co. acquired a new position in Cavium during the first quarter worth about $215,000. Finally, FNY Partners Fund LP increased its position in Cavium by 1.2% in the first quarter. FNY Partners Fund LP now owns 3,400 shares of the semiconductor provider’s stock worth $243,000 after buying an additional 40 shares during the last quarter.

Cavium Company Profile

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.

Analyst Recommendations for Cavium (NASDAQ:CAVM)

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