Cavium, Inc. (NASDAQ:CAVM)‘s stock had its “hold” rating reaffirmed by equities research analysts at Canaccord Genuity in a report released on Tuesday, Marketbeat reports. They presently have a $85.00 price objective on the semiconductor provider’s stock, up from their previous price objective of $67.00. Canaccord Genuity’s target price suggests a potential upside of 1.17% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Jefferies Group LLC set a $79.00 price target on shares of Cavium and gave the company a “buy” rating in a research note on Thursday, October 19th. Morgan Stanley reduced their price target on shares of Cavium from $78.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Raymond James Financial, Inc. restated an “outperform” rating and issued a $75.00 price target on shares of Cavium in a research note on Thursday, September 14th. Stifel Nicolaus restated a “hold” rating and issued a $66.00 price target on shares of Cavium in a research note on Thursday, October 12th. Finally, Loop Capital restated a “buy” rating and issued a $81.00 price target on shares of Cavium in a research note on Thursday, November 2nd. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $80.56.

Shares of Cavium (NASDAQ:CAVM) traded up $8.19 during trading on Tuesday, reaching $84.02. 18,166,900 shares of the company’s stock were exchanged, compared to its average volume of 962,642. The firm has a market capitalization of $5,240.00, a P/E ratio of 70.21, a price-to-earnings-growth ratio of 2.74 and a beta of 1.27. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.87 and a quick ratio of 2.27. Cavium has a 12-month low of $53.73 and a 12-month high of $84.41.

Cavium (NASDAQ:CAVM) last announced its quarterly earnings data on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $251.99 million for the quarter, compared to the consensus estimate of $250.16 million. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The business’s revenue for the quarter was up 49.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. research analysts forecast that Cavium will post 1.33 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This story was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/11/21/cavium-inc-cavm-price-target-raised-to-85-00-at-canaccord-genuity-2.html.

In other news, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction on Friday, November 10th. The shares were sold at an average price of $77.22, for a total value of $1,158,300.00. Following the completion of the sale, the senior vice president now owns 60,039 shares in the company, valued at approximately $4,636,211.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.65% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC grew its position in Cavium by 581.0% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 820,499 shares of the semiconductor provider’s stock valued at $54,104,000 after purchasing an additional 700,015 shares during the period. Wesbanco Bank Inc. acquired a new stake in Cavium in the 2nd quarter valued at $3,171,000. Fisher Asset Management LLC grew its position in Cavium by 23.5% in the 3rd quarter. Fisher Asset Management LLC now owns 916,197 shares of the semiconductor provider’s stock valued at $60,414,000 after purchasing an additional 174,209 shares during the period. Verition Fund Management LLC acquired a new stake in Cavium in the 2nd quarter valued at $320,000. Finally, Comgest Global Investors S.A.S. grew its position in Cavium by 24.6% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 30,400 shares of the semiconductor provider’s stock valued at $1,889,000 after purchasing an additional 6,000 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.

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.