Brokerages forecast that Cavium, Inc. (NASDAQ:CAVM) will post $0.34 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Cavium’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.40. Cavium reported earnings of $0.04 per share during the same quarter last year, which would suggest a positive year over year growth rate of 750%. The business is expected to announce its next quarterly earnings results on Tuesday, July 25th.
On average, analysts expect that Cavium will report full-year earnings of $1.46 per share for the current fiscal year, with EPS estimates ranging from $1.36 to $1.62. For the next year, analysts expect that the business will report earnings of $2.38 per share, with EPS estimates ranging from $2.27 to $2.54. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Cavium.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings results on Wednesday, April 26th. The semiconductor provider reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.09. Cavium had a negative net margin of 26.52% and a positive return on equity of 4.05%. The business had revenue of $229.58 million during the quarter, compared to analysts’ expectations of $227.22 million. During the same quarter in the prior year, the firm earned $0.25 EPS. Cavium’s revenue for the quarter was up 125.3% on a year-over-year basis.
A number of equities research analysts recently commented on the stock. Longbow Research assumed coverage on shares of Cavium in a research report on Friday, June 9th. They issued a “buy” rating and a $85.00 price objective for the company. Pacific Crest restated an “equal weight” rating on shares of Cavium in a research report on Thursday. Stifel Nicolaus raised their price objective on shares of Cavium from $55.00 to $66.00 and gave the company a “hold” rating in a research report on Thursday, April 27th. Needham & Company LLC restated a “buy” rating and issued a $78.00 price objective (up previously from $77.00) on shares of Cavium in a research report on Thursday, April 27th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $73.00 price objective (up previously from $69.00) on shares of Cavium in a research report on Thursday, April 27th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $72.79.
In other news, SVP Vincent P. Pangrazio sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $75.73, for a total transaction of $1,135,950.00. Following the completion of the transaction, the senior vice president now directly owns 60,039 shares of the company’s stock, valued at approximately $4,546,753.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Arthur D. Chadwick sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $75.14, for a total transaction of $3,005,600.00. Following the transaction, the vice president now directly owns 75,383 shares of the company’s stock, valued at $5,664,278.62. The disclosure for this sale can be found here. Company insiders own 4.65% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CAVM. IFP Advisors Inc boosted its position in shares of Cavium by 6.9% in the first quarter. IFP Advisors Inc now owns 1,559 shares of the semiconductor provider’s stock worth $112,000 after buying an additional 101 shares during the period. Solaris Asset Management LLC boosted its position in shares of Cavium by 52.4% in the first quarter. Solaris Asset Management LLC now owns 1,600 shares of the semiconductor provider’s stock worth $115,000 after buying an additional 550 shares during the period. US Bancorp DE boosted its position in shares of Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock worth $135,000 after buying an additional 868 shares during the period. Bluestein R H & Co. acquired a new position in shares of Cavium during the first quarter worth $215,000. Finally, FNY Partners Fund LP boosted its position in shares of Cavium by 1.2% in the first quarter. FNY Partners Fund LP now owns 3,400 shares of the semiconductor provider’s stock worth $243,000 after buying an additional 40 shares during the period.
Shares of Cavium (CAVM) traded down 0.06% during trading on Tuesday, hitting $66.75. The company had a trading volume of 7,343,221 shares. Cavium has a 52-week low of $35.90 and a 52-week high of $76.26. The firm’s market capitalization is $4.53 billion. The stock’s 50-day moving average is $71.07 and its 200 day moving average is $67.88.
TRADEMARK VIOLATION WARNING: “Brokerages Expect Cavium, Inc. (CAVM) to Announce $0.34 Earnings Per Share” was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://sportsperspectives.com/2017/06/25/brokerages-expect-cavium-inc-cavm-to-announce-0-34-earnings-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cavium Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavium Inc. and related companies with MarketBeat.com's FREE daily email newsletter.