Susquehanna initiated coverage on shares of Cavium Inc. (NASDAQ:CAVM) in a research note issued to investors on Tuesday. The firm issued a positive rating and a $65.00 price target on the semiconductor provider’s stock.
Other research analysts have also issued reports about the stock. Canaccord Genuity reissued a buy rating and set a $61.00 price objective (down from $67.00) on shares of Cavium in a report on Tuesday, June 7th. Needham & Company LLC restated a buy rating and issued a $66.00 price target on shares of Cavium in a research report on Tuesday, May 31st. Brean Capital restated a buy rating and issued a $60.00 price target (down from $67.00) on shares of Cavium in a research report on Thursday, June 16th. Zacks Investment Research upgraded shares of Cavium from a sell rating to a buy rating and set a $46.00 price target on the stock in a research report on Wednesday, July 13th. Finally, Pacific Crest restated a hold rating on shares of Cavium in a research report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Cavium presently has an average rating of Hold and a consensus price target of $60.03.
Cavium (NASDAQ:CAVM) opened at 57.08 on Tuesday. Cavium has a 12 month low of $35.90 and a 12 month high of $73.95. The firm’s 50-day moving average is $54.03 and its 200 day moving average is $50.81. The firm’s market capitalization is $3.30 billion.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings data on Tuesday, July 26th. The semiconductor provider reported $0.29 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. The company earned $107.20 million during the quarter, compared to analyst estimates of $106.70 million. Cavium had a negative net margin of 1.94% and a positive return on equity of 4.39%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. Equities analysts predict that Cavium will post $1.44 earnings per share for the current year.
In other news, COO Muhammad Raghib Hussain bought 20,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average cost of $51.86 per share, with a total value of $1,037,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Arthur D. Chadwick bought 10,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was purchased at an average cost of $51.94 per share, for a total transaction of $519,400.00. Following the completion of the transaction, the vice president now owns 102,845 shares of the company’s stock, valued at $5,341,769.30. The disclosure for this purchase can be found here. 4.63% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAVM. Pacer Advisors Inc. bought a new position in shares of Cavium during the second quarter worth approximately $177,000. Seven Eight Capital LLC bought a new position in shares of Cavium during the second quarter worth approximately $185,000. BlackRock Inc. increased its position in shares of Cavium by 31.7% in the second quarter. BlackRock Inc. now owns 4,909 shares of the semiconductor provider’s stock worth $189,000 after buying an additional 1,181 shares during the last quarter. Massmutual Trust Co. FSB ADV bought a new position in shares of Cavium during the first quarter worth approximately $226,000. Finally, Prudential Financial Inc. increased its position in shares of Cavium by 5.4% in the second quarter. Prudential Financial Inc. now owns 5,892 shares of the semiconductor provider’s stock worth $227,000 after buying an additional 300 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.
Cavium, Inc is a provider of semiconductor processors, which enables processing for wired and wireless networking, communications, storage, cloud, wireless, security, video and connected home and office applications. The Company’s products include OCTEON, OCTEON Fusion, OCTEON XL, LiquidIO, NITROX, NEURON Search, ThunderX, Xpliant and XPA.
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