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.
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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.
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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