Cavium, Inc. (CAVM) Receives Hold Rating from Canaccord Genuity
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.
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.
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