Cavium (CAVM) Rating Increased to Hold at Zacks Investment Research

Cavium (NASDAQ:CAVM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “

Other research analysts also recently issued research reports about the stock. Bank of America reiterated a “buy” rating on shares of Cavium in a research report on Sunday, October 1st. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 price objective on shares of Cavium in a research report on Thursday, November 2nd. Loop Capital reiterated a “buy” rating and issued a $81.00 price objective on shares of Cavium in a research report on Thursday, November 2nd. Jefferies Group set a $79.00 price objective on shares of Cavium and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, KeyCorp reiterated a “buy” rating and issued a $80.00 price objective on shares of Cavium in a research report on Tuesday, October 17th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $78.41.

Shares of Cavium (NASDAQ CAVM) traded down $0.43 during trading on Tuesday, hitting $89.42. 2,418,715 shares of the company’s stock were exchanged, compared to its average volume of 1,040,000. The firm has a market capitalization of $6,180.00, a P/E ratio of -31.82, a P/E/G ratio of 2.20 and a beta of 1.35. Cavium has a 1-year low of $56.96 and a 1-year high of $90.83. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.27 and a current ratio of 2.87.

Cavium (NASDAQ:CAVM) last issued its quarterly earnings data on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $251.99 million during 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 company’s revenue was up 49.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 earnings per share. sell-side analysts expect that Cavium will post 1.33 earnings per share for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in CAVM. Legal & General Group Plc grew its stake in Cavium by 11.8% during the 2nd quarter. Legal & General Group Plc now owns 24,972 shares of the semiconductor provider’s stock valued at $1,551,000 after acquiring an additional 2,631 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Cavium by 107.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock valued at $160,000 after acquiring an additional 1,335 shares in the last quarter. Nationwide Fund Advisors grew its stake in Cavium by 36.7% during the 2nd quarter. Nationwide Fund Advisors now owns 71,910 shares of the semiconductor provider’s stock valued at $4,468,000 after acquiring an additional 19,321 shares in the last quarter. Amalgamated Bank grew its stake in Cavium by 59.6% during the 2nd quarter. Amalgamated Bank now owns 12,657 shares of the semiconductor provider’s stock valued at $786,000 after acquiring an additional 4,726 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Cavium by 47.1% in the 2nd quarter. New York State Common Retirement Fund now owns 210,190 shares of the semiconductor provider’s stock valued at $13,059,000 after buying an additional 67,253 shares during the period. 99.25% of the stock is owned by institutional investors.

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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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