Brokerages Expect Cavium, Inc. (CAVM) to Announce $0.34 Earnings Per Share

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.

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About Cavium

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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