A number of other research firms have also recently commented on CAVM. Zacks Investment Research raised shares of Cavium from a hold rating to a buy rating and set a $76.00 target price for the company in a report on Monday, November 6th. Canaccord Genuity increased their target price on shares of Cavium from $66.00 to $67.00 and gave the stock a hold rating in a report on Thursday, November 2nd. Raymond James Financial reaffirmed an outperform rating and issued a $75.00 price objective on shares of Cavium in a research note on Thursday, September 14th. KeyCorp reaffirmed a hold rating on shares of Cavium in a research note on Friday, September 1st. Finally, Morgan Stanley lowered their price objective on Cavium from $78.00 to $77.00 and set an overweight rating for the company in a research note on Thursday, November 2nd. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $78.41.
Cavium (NASDAQ CAVM) traded up $0.39 during mid-day trading on Tuesday, hitting $84.99. 1,897,481 shares of the stock were exchanged, compared to its average volume of 1,054,678. The company has a market capitalization of $5,869.25, a PE ratio of 78.58, a P/E/G ratio of 3.07 and a beta of 1.36. 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 52-week low of $56.96 and a 52-week high of $88.96.
Cavium (NASDAQ:CAVM) last posted its earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $251.99 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 earnings per share. sell-side analysts forecast that Cavium will post 1.33 EPS for the current fiscal year.
In related news, SVP Vincent P. Pangrazio sold 15,000 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $77.22, for a total value of $1,158,300.00. Following the transaction, the senior vice president now directly owns 60,039 shares in the company, valued at approximately $4,636,211.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Anil Kumar Jain sold 8,500 shares of the 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 completion of the transaction, the vice president now owns 91,616 shares in the company, valued at $7,869,814.40. The disclosure for this sale can be found here. Company insiders own 4.65% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CAVM. Solaris Asset Management LLC lifted its holdings in shares of Cavium by 43.4% in the 2nd quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock worth $143,000 after purchasing an additional 695 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Cavium by 107.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock worth $160,000 after purchasing an additional 1,335 shares in the last quarter. World Asset Management Inc bought a new position in Cavium during the 3rd quarter valued at $203,000. Tudor Investment Corp ET AL bought a new position in Cavium during the 2nd quarter valued at $228,000. Finally, Pacad Investment Ltd. lifted its stake in Cavium by 42.3% during the 2nd quarter. Pacad Investment Ltd. now owns 3,700 shares of the semiconductor provider’s stock valued at $230,000 after acquiring an additional 1,100 shares in the last quarter.
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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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