Cavium, Inc. (NASDAQ:CAVM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

A number of other brokerages have also issued reports on CAVM. Jefferies Group LLC set a $79.00 target price on shares of Cavium and gave the stock a “buy” rating in a research report on Thursday, October 19th. Canaccord Genuity raised their target price on shares of Cavium from $66.00 to $67.00 and gave the stock a “hold” rating in a research report on Thursday, November 2nd. Morgan Stanley decreased their target price on shares of Cavium from $78.00 to $77.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Needham & Company LLC restated a “buy” rating and set a $78.00 target price on shares of Cavium in a research report on Thursday, November 2nd. Finally, Loop Capital restated a “buy” rating and set a $81.00 target price on shares of Cavium in a research report on Thursday, November 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $77.88.

Cavium (NASDAQ CAVM) traded down $0.19 during mid-day trading on Tuesday, hitting $76.24. 1,065,885 shares of the stock traded hands, compared to its average volume of 827,931. The firm has a market capitalization of $5,210.00, a price-to-earnings ratio of 63.21, a PEG ratio of 2.52 and a beta of 1.27. Cavium has a twelve month low of $50.81 and a twelve month high of $76.75. The company has a quick ratio of 2.10, a current ratio of 2.71 and a debt-to-equity ratio of 0.84.

Cavium (NASDAQ:CAVM) last released its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The business had revenue of $251.99 million for the quarter, compared to analyst estimates of $250.16 million. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.24%. The company’s quarterly revenue was up 49.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 earnings per share. sell-side analysts expect that Cavium will post 1.3 EPS for the current year.

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In other news, COO Muhammad Raghib Hussain sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $61.85, for a total value of $1,237,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.65% of the company’s stock.

Several hedge funds have recently modified their holdings of CAVM. Prudential Financial Inc. raised its stake in shares of Cavium by 3.0% in the 1st quarter. Prudential Financial Inc. now owns 6,917 shares of the semiconductor provider’s stock valued at $496,000 after acquiring an additional 200 shares during the period. Legal & General Group Plc raised its stake in shares of Cavium by 4.1% in the 1st quarter. Legal & General Group Plc now owns 22,341 shares of the semiconductor provider’s stock valued at $1,598,000 after acquiring an additional 875 shares during the period. State Street Corp raised its stake in shares of Cavium by 3.4% in the 1st quarter. State Street Corp now owns 1,370,661 shares of the semiconductor provider’s stock valued at $98,221,000 after acquiring an additional 44,456 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Cavium in the 2nd quarter valued at $391,000. Finally, Regent Investment Management LLC increased its stake in Cavium by 143.2% during the 2nd quarter. Regent Investment Management LLC now owns 48,340 shares of the semiconductor provider’s stock worth $3,003,000 after buying an additional 28,465 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

About Cavium

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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Analyst Recommendations for Cavium (NASDAQ:CAVM)

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