Cavium Inc (NASDAQ:CAVM) has been assigned a consensus recommendation of “Buy” from the twenty-two analysts that are currently covering the stock. Eight investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $68.03.
CAVM has been the topic of a number of research analyst reports. Benchmark Co. increased their price target on Cavium from $63.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, January 24th. Argus increased their price target on Cavium from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, March 14th. Bank of America Corp restated a “buy” rating on shares of Cavium in a research note on Thursday, March 2nd. Needham & Company LLC restated a “buy” rating and issued a $77.00 price target on shares of Cavium in a research note on Monday, February 27th. Finally, MKM Partners initiated coverage on Cavium in a research note on Wednesday, February 22nd. They issued a “buy” rating and a $77.00 price target on the stock.
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In related news, VP Arthur D. Chadwick sold 63,813 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $69.76, for a total value of $4,451,594.88. Following the sale, the vice president now directly owns 95,383 shares of the company’s stock, valued at $6,653,918.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony S. Thornley sold 12,500 shares of the firm’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $65.68, for a total value of $821,000.00. Following the completion of the sale, the director now directly owns 23,208 shares in the company, valued at $1,524,301.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,313 shares of company stock worth $12,970,045. 4.63% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Cavium by 14.6% in the fourth quarter. FMR LLC now owns 10,050,510 shares of the semiconductor provider’s stock valued at $627,554,000 after buying an additional 1,277,223 shares during the period. BlackRock Fund Advisors raised its stake in Cavium by 20.6% in the third quarter. BlackRock Fund Advisors now owns 1,866,958 shares of the semiconductor provider’s stock valued at $108,657,000 after buying an additional 318,644 shares during the period. Jennison Associates LLC raised its stake in Cavium by 40.8% in the third quarter. Jennison Associates LLC now owns 1,718,578 shares of the semiconductor provider’s stock valued at $100,021,000 after buying an additional 498,023 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Cavium by 15.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,607,364 shares of the semiconductor provider’s stock valued at $93,549,000 after buying an additional 218,636 shares during the period. Finally, Franklin Resources Inc. raised its stake in Cavium by 14.4% in the fourth quarter. Franklin Resources Inc. now owns 1,369,819 shares of the semiconductor provider’s stock valued at $85,532,000 after buying an additional 172,116 shares during the period.
Shares of Cavium (NASDAQ:CAVM) traded down 0.55% during trading on Tuesday, reaching $69.23. 538,743 shares of the company traded hands. The stock’s market cap is $4.70 billion. Cavium has a 12 month low of $35.90 and a 12 month high of $73.01. The stock’s 50 day moving average price is $70.11 and its 200-day moving average price is $62.93.
Cavium (NASDAQ:CAVM) last posted its quarterly earnings results on Wednesday, February 1st. The semiconductor provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Cavium had a positive return on equity of 2.07% and a negative net margin of 24.40%. The business had revenue of $226.20 million for the quarter, compared to analysts’ expectations of $224.49 million. During the same quarter in the prior year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 124.2% on a year-over-year basis. On average, equities research analysts expect that Cavium will post $2.70 EPS for the current fiscal year.
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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