Cavium, Inc. (CAVM) Cut to Hold at Loop Capital

Cavium, Inc. (NASDAQ:CAVM) was downgraded by stock analysts at Loop Capital from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other brokerages also recently issued reports on CAVM. Jefferies Group LLC downgraded Cavium from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised Cavium from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Monday, November 6th. Benchmark Co. cut Cavium from a “buy” rating to a “hold” rating in a research report on Monday. KeyCorp reaffirmed a “positive” rating and set a $90.00 price objective (up from $80.00) on shares of Cavium in a research report on Thursday, November 16th. They noted that the move was a valuation call. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 price objective on shares of Cavium in a research report on Thursday, November 2nd. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.50.

Cavium (NASDAQ:CAVM) opened at $84.02 on Tuesday. Cavium has a twelve month low of $53.73 and a twelve month high of $84.41. The stock has a market capitalization of $5,240.00, a PE ratio of 70.21, a P/E/G ratio of 2.74 and a beta of 1.27. The company has a current ratio of 2.87, a quick ratio of 2.27 and a debt-to-equity ratio of 0.81.

Cavium (NASDAQ:CAVM) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Cavium had a positive return on equity of 11.16% and a negative net margin of 19.94%. The company had revenue of $251.99 million for the quarter, compared to the consensus estimate of $250.16 million. During the same quarter in the previous year, the business earned $0.43 EPS. Cavium’s revenue was up 49.9% compared to the same quarter last year. equities analysts forecast that Cavium will post 1.33 earnings per share for the current year.

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In other news, SVP Vincent P. Pangrazio sold 15,000 shares of the business’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 value of $1,158,300.00. Following the sale, 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.65% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its holdings in Cavium by 42.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,425,325 shares of the semiconductor provider’s stock worth $225,867,000 after acquiring an additional 1,027,760 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Cavium by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,353,670 shares of the semiconductor provider’s stock worth $217,753,000 after acquiring an additional 478,019 shares during the last quarter. Wasatch Advisors Inc. raised its holdings in Cavium by 3.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,581,155 shares of the semiconductor provider’s stock worth $160,367,000 after acquiring an additional 98,066 shares during the last quarter. Jennison Associates LLC raised its holdings in Cavium by 50.6% in the 3rd quarter. Jennison Associates LLC now owns 1,939,958 shares of the semiconductor provider’s stock worth $127,921,000 after acquiring an additional 652,177 shares during the last quarter. Finally, Fred Alger Management Inc. raised its holdings in Cavium by 36.2% in the 2nd quarter. Fred Alger Management Inc. now owns 1,275,464 shares of the semiconductor provider’s stock worth $79,245,000 after acquiring an additional 339,019 shares during the last quarter.

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.

Analyst Recommendations for Cavium (NASDAQ:CAVM)

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