Cavium, Inc. (CAVM) Receives “Outperform” Rating from Raymond James Financial, Inc.
Cavium, Inc. (NASDAQ:CAVM)‘s stock had its “outperform” rating reissued by Raymond James Financial, Inc. in a research report issued on Thursday. They presently have a $75.00 target price on the semiconductor provider’s stock. Raymond James Financial, Inc.’s price target indicates a potential upside of 18.32% from the stock’s current price.
CAVM has been the topic of a number of other reports. BidaskClub downgraded shares of Cavium from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. MKM Partners restated a “buy” rating and issued a $81.00 price objective on shares of Cavium in a research note on Wednesday, August 16th. Barclays PLC upgraded Cavium from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 21st. Loop Capital restated a “buy” rating and issued a $81.00 price objective on shares of Cavium in a research note on Tuesday, August 22nd. Finally, Canaccord Genuity restated a “hold” rating on shares of Cavium in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Cavium presently has an average rating of “Buy” and a consensus target price of $77.00.
Cavium (NASDAQ:CAVM) traded up 0.24% during trading on Thursday, reaching $63.54. 233,286 shares of the company were exchanged. The stock’s market capitalization is $4.37 billion. The firm’s 50 day moving average price is $61.64 and its 200-day moving average price is $67.26. Cavium has a one year low of $50.81 and a one year high of $76.26.
Cavium (NASDAQ:CAVM) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $242.09 million for the quarter, compared to the consensus estimate of $238.93 million. Cavium had a negative net margin of 22.82% and a positive return on equity of 5.94%. The firm’s quarterly revenue was up 125.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. On average, equities research analysts predict that Cavium will post $2.79 earnings per share for the current year.
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In other Cavium news, COO Muhammad Raghib Hussain sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $61.85, for a total value of $1,237,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.65% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Cavium by 1.2% during the first quarter. FMR LLC now owns 10,174,578 shares of the semiconductor provider’s stock valued at $729,110,000 after purchasing an additional 124,068 shares during the period. Vanguard Group Inc. boosted its stake in shares of Cavium by 4.3% during the first quarter. Vanguard Group Inc. now owns 5,121,457 shares of the semiconductor provider’s stock valued at $367,004,000 after purchasing an additional 211,144 shares during the period. Wellington Management Group LLP boosted its stake in shares of Cavium by 8.1% during 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 purchasing an additional 336,243 shares during the period. BlackRock Inc. boosted its stake in shares of Cavium by 64,275.6% during the first quarter. BlackRock Inc. now owns 4,382,691 shares of the semiconductor provider’s stock valued at $314,065,000 after purchasing an additional 4,375,883 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Cavium by 29.5% during the first quarter. JPMorgan Chase & Co. now owns 2,964,350 shares of the semiconductor provider’s stock valued at $212,424,000 after purchasing an additional 675,059 shares during the period. 98.25% of the stock is owned by hedge funds and other institutional investors.
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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