A number of other research firms have also weighed in 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 lifted their price objective on shares of Cavium from $66.00 to $67.00 and gave the stock a hold rating in a research note on Thursday, November 2nd. Raymond James Financial reaffirmed an outperform rating and set a $75.00 price objective on shares of Cavium in a research note on Thursday, September 14th. KeyCorp reiterated a hold rating on shares of Cavium in a research report on Friday, September 1st. Finally, Morgan Stanley decreased their target price on Cavium from $78.00 to $77.00 and set an overweight rating for the company in a research report on Thursday, November 2nd. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $78.41.
Shares of Cavium (CAVM) traded up $0.39 during midday trading on Monday, hitting $84.99. 1,897,481 shares of the stock were exchanged, compared to its average volume of 1,054,678. Cavium has a 12-month low of $56.96 and a 12-month high of $88.96. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.27 and a current ratio of 2.87. The stock has a market cap of $5,869.25, a P/E ratio of 78.58, a PEG ratio of 3.07 and a beta of 1.36.
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 the Thomson Reuters’ consensus estimate of $0.74 by $0.02. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The firm had revenue of $251.99 million for the quarter, compared to analysts’ expectations of $250.16 million. During the same quarter in the prior year, the business earned $0.43 EPS. The business’s quarterly revenue was up 49.9% on a year-over-year basis. equities research analysts forecast that Cavium will post 1.33 EPS for the current fiscal year.
In other news, SVP Vincent P. Pangrazio sold 15,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 60,039 shares of the company’s stock, valued at approximately $4,636,211.58. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Anil Kumar Jain sold 8,500 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly 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 owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its holdings in Cavium by 18.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 214,208 shares of the semiconductor provider’s stock valued at $14,125,000 after buying an additional 33,539 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Cavium in the 3rd quarter valued at $8,902,000. Janus Henderson Group PLC grew its holdings in Cavium by 16.6% in the 3rd quarter. Janus Henderson Group PLC now owns 867,072 shares of the semiconductor provider’s stock valued at $57,170,000 after buying an additional 123,567 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Cavium in the 3rd quarter valued at $10,873,000. Finally, Envestnet Asset Management Inc. grew its holdings in Cavium by 8.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 14,272 shares of the semiconductor provider’s stock valued at $940,000 after buying an additional 1,113 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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