Cavium, Inc. (NASDAQ:CAVM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday.

According to Zacks, “Cavium, Inc. is engaged in providing semiconductor processors that enable networking, communications, storage, video and security applications. The Company offers software compatible processors with functionality in enterprise, data-center, broadband/consumer and access and service provider equipment. Its processors are supported by ecosystem partners that provide operating systems, tools and application support, hardware reference designs and other services. Cavium, Inc., formerly known as Cavium Networks, Inc., is headquartered in Mountain View, California. “

Several other equities research analysts have also weighed in on CAVM. Needham & Company LLC restated a “buy” rating and issued a $78.00 target price (up from $77.00) on shares of Cavium in a report on Thursday, April 27th. Stifel Nicolaus boosted their target price on Cavium from $55.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday, April 27th. Jefferies Group LLC restated a “hold” rating and issued a $73.00 target price (up from $69.00) on shares of Cavium in a report on Thursday, April 27th. Morgan Stanley boosted their target price on Cavium from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, April 28th. Finally, MKM Partners restated a “buy” rating and issued a $81.00 target price (up from $77.00) on shares of Cavium in a report on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.53.

Shares of Cavium (NASDAQ CAVM) traded up 2.98% during mid-day trading on Monday, reaching $61.08. 1,109,658 shares of the company’s stock traded hands. Cavium has a 1-year low of $46.78 and a 1-year high of $76.26. The firm has a 50-day moving average price of $64.96 and a 200-day moving average price of $68.19. The company’s market capitalization is $4.17 billion.

Cavium (NASDAQ:CAVM) last posted its earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. Cavium had a positive return on equity of 5.87% and a negative net margin of 22.82%. The firm had revenue of $242.09 million during the quarter, compared to analyst estimates of $238.93 million. During the same period in the previous year, the company earned $0.29 EPS. The company’s revenue for the quarter was up 125.8% on a year-over-year basis. On average, equities research analysts forecast that Cavium will post $2.79 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Cavium, Inc. (NASDAQ:CAVM) Downgraded to Strong Sell at Zacks Investment Research” was published by American Banking News and is the property of of American Banking News. If you are reading this piece on another website, it was illegally stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/08/07/cavium-inc-nasdaqcavm-downgraded-to-strong-sell-at-zacks-investment-research.html.

In other Cavium news, SVP Vincent P. Pangrazio sold 15,000 shares of the company’s stock in a transaction on 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 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 the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $75.14, for a total value of $3,005,600.00. Following the completion of the sale, the vice president now owns 75,383 shares in the company, valued at $5,664,278.62. The disclosure for this sale can be found here. Corporate insiders own 4.65% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. FNY Partners Fund LP boosted its stake in shares of 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 period. Teacher Retirement System of Texas boosted its stake in shares of Cavium by 1.3% in the second quarter. Teacher Retirement System of Texas now owns 5,372 shares of the semiconductor provider’s stock worth $334,000 after buying an additional 68 shares during the period. IFP Advisors Inc boosted its stake in shares of 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 period. Prudential Financial Inc. boosted its stake in shares of Cavium by 3.0% in the first quarter. Prudential Financial Inc. now owns 6,917 shares of the semiconductor provider’s stock worth $496,000 after buying an additional 200 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Cavium by 4.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 6,297 shares of the semiconductor provider’s stock worth $451,000 after buying an additional 292 shares during the period.

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.

Get a free copy of the Zacks research report on Cavium (CAVM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Cavium (NASDAQ:CAVM)

Receive News & Ratings for Cavium Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavium Inc. and related companies with MarketBeat.com's FREE daily email newsletter.