Zacks: Analysts Anticipate Cavium Inc (CAVM) Will Post Quarterly Sales of $259.94 Million

Analysts expect Cavium Inc (NASDAQ:CAVM) to announce sales of $259.94 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Cavium’s earnings, with the highest sales estimate coming in at $261.11 million and the lowest estimate coming in at $258.50 million. Cavium posted sales of $226.15 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.9%. The company is expected to announce its next earnings results on Wednesday, February 7th.

According to Zacks, analysts expect that Cavium will report full year sales of $259.94 million for the current fiscal year, with estimates ranging from $982.10 million to $984.77 million. For the next fiscal year, analysts expect that the company will post sales of $1.11 billion per share, with estimates ranging from $1.09 billion to $1.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Cavium.

Cavium (NASDAQ:CAVM) last posted its earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $251.99 million during the quarter, compared to analyst estimates of $250.16 million. Cavium had a negative net margin of 2.47% and a negative return on equity of 3.36%. Cavium’s revenue for the quarter was up 49.9% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share.

A number of brokerages recently issued reports on CAVM. Jefferies Group restated a “buy” rating and issued a $40.00 price target on shares of Cavium in a research report on Sunday, November 26th. Susquehanna Bancshares restated a “neutral” rating and issued a $83.00 price target (down from $85.00) on shares of Cavium in a research report on Tuesday, November 21st. Canaccord Genuity restated a “hold” rating and issued a $85.00 price target (up from $67.00) on shares of Cavium in a research report on Tuesday, November 21st. Zacks Investment Research downgraded Cavium from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, BidaskClub downgraded Cavium from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $78.41.

Shares of Cavium (NASDAQ CAVM) opened at $89.95 on Friday. The stock has a market capitalization of $6,220.00, a price-to-earnings ratio of -32.01, a P/E/G ratio of 2.19 and a beta of 1.35. Cavium has a 52-week low of $56.96 and a 52-week high of $90.83. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.87 and a quick ratio of 2.27.

In other news, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction on Friday, November 10th. The stock was sold at an average price of $77.22, for a total transaction of $1,158,300.00. Following the completion of the sale, the senior vice president now directly owns 60,039 shares in the company, valued at $4,636,211.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Anil Kumar Jain sold 8,500 shares of Cavium stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $85.90, for a total value of $730,150.00. Following the sale, the vice president now owns 91,616 shares of the company’s stock, valued at $7,869,814.40. The disclosure for this sale can be found here. 4.65% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in CAVM. Frontier Capital Management Co. LLC raised its holdings in shares of Cavium by 581.0% in the third quarter. Frontier Capital Management Co. LLC now owns 820,499 shares of the semiconductor provider’s stock valued at $54,104,000 after acquiring an additional 700,015 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Cavium by 23.5% in the third quarter. Fisher Asset Management LLC now owns 916,197 shares of the semiconductor provider’s stock valued at $60,414,000 after acquiring an additional 174,209 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Cavium in the second quarter valued at about $320,000. Russell Investments Group Ltd. raised its holdings in shares of Cavium by 31.5% in the third quarter. Russell Investments Group Ltd. now owns 663,843 shares of the semiconductor provider’s stock valued at $43,774,000 after acquiring an additional 158,866 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Cavium in the third quarter valued at about $10,873,000.

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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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