Cavium, Inc. (CAVM) Earns “Buy” Rating from MKM Partners
Cavium, Inc. (NASDAQ:CAVM)‘s stock had its “buy” rating reissued by research analysts at MKM Partners in a research note issued to investors on Wednesday. They currently have a $81.00 target price on the semiconductor provider’s stock. MKM Partners’ price target would suggest a potential upside of 31.88% from the stock’s previous close.
Other analysts have also issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 price target (up previously from $77.00) on shares of Cavium in a research note on Thursday, April 27th. Longbow Research initiated coverage on Cavium in a research note on Friday, June 9th. They issued a “buy” rating and a $85.00 price target for the company. Jefferies Group LLC raised Cavium from a “hold” rating to a “buy” rating and raised their price target for the stock from $73.00 to $79.00 in a research note on Monday, July 10th. Pacific Crest reaffirmed an “equal weight” rating on shares of Cavium in a research note on Thursday, June 22nd. Finally, BidaskClub raised Cavium from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $74.53.
Shares of Cavium (CAVM) traded up 1.29% on Wednesday, hitting $62.21. 436,913 shares of the stock were exchanged. The company’s market cap is $4.28 billion. Cavium has a 52-week low of $50.01 and a 52-week high of $76.26. The company has a 50 day moving average of $63.03 and a 200 day moving average of $67.86.
Cavium (NASDAQ:CAVM) last issued its earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. Cavium had a negative net margin of 22.82% and a positive return on equity of 5.94%. The firm had revenue of $242.09 million for the quarter, compared to analysts’ expectations of $238.93 million. During the same quarter last year, the business earned $0.29 earnings per share. The business’s revenue was up 125.8% on a year-over-year basis. Equities research analysts forecast that Cavium will post $2.79 earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its stake in Cavium by 1.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,538 shares of the semiconductor provider’s stock valued at $2,690,000 after buying an additional 410 shares during the last quarter. Geneva Advisors LLC increased its stake in Cavium by 5.2% in the first quarter. Geneva Advisors LLC now owns 15,034 shares of the semiconductor provider’s stock valued at $1,077,000 after buying an additional 746 shares during the last quarter. SPC Financial Inc. acquired a new stake in Cavium during the first quarter valued at approximately $574,000. Tocqueville Asset Management L.P. acquired a new stake in Cavium during the first quarter valued at approximately $287,000. Finally, Essex Investment Management Co. LLC increased its stake in Cavium by 54.0% in the first quarter. Essex Investment Management Co. LLC now owns 50,781 shares of the semiconductor provider’s stock valued at $3,639,000 after buying an additional 17,798 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.
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