Cavium, Inc. (NASDAQ:CAVM) was downgraded by Macquarie from an “outperform” rating to a “neutral” rating in a report issued on Tuesday.
Other equities research analysts also recently issued reports about the company. Bank of America Corporation reaffirmed a “buy” rating on shares of Cavium in a research report on Sunday, October 1st. Loop Capital reaffirmed a “buy” rating and issued a $81.00 price target on shares of Cavium in a research report on Tuesday, August 22nd. MKM Partners reaffirmed a “buy” rating and issued a $81.00 price target on shares of Cavium in a research report on Wednesday, August 16th. KeyCorp reaffirmed a “buy” rating and issued a $80.00 price target on shares of Cavium in a research report on Tuesday, October 17th. Finally, Jefferies Group LLC set a $79.00 price target on Cavium and gave the company a “buy” rating in a research report on Thursday, October 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $80.71.
Shares of Cavium (NASDAQ:CAVM) opened at $88.60 on Tuesday. The stock has a market capitalization of $6,030.38, a PE ratio of 80.74, a PEG ratio of 3.15 and a beta of 1.27. Cavium has a 1 year low of $53.76 and a 1 year high of $88.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.87 and a quick ratio of 2.27.
Cavium (NASDAQ:CAVM) last issued its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The company had revenue of $251.99 million for the quarter, compared to the consensus estimate of $250.16 million. Cavium had a positive return on equity of 11.16% and a negative net margin of 19.94%. The firm’s revenue was up 49.9% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. sell-side analysts predict that Cavium will post 1.33 EPS for the current year.
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In other news, VP Anil Kumar Jain sold 8,500 shares of Cavium stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $85.90, for a total value of $730,150.00. Following the completion of the transaction, the vice president now owns 91,616 shares in the company, valued at $7,869,814.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $77.22, for a total transaction of $1,158,300.00. Following the completion of the transaction, the senior vice president now owns 60,039 shares of the company’s stock, valued at approximately $4,636,211.58. The disclosure for this sale can be found here. 4.65% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of CAVM. Aperio Group LLC raised its stake in shares of Cavium by 15.8% in the second quarter. Aperio Group LLC now owns 9,605 shares of the semiconductor provider’s stock valued at $597,000 after acquiring an additional 1,311 shares during the last quarter. Chase Investment Counsel Corp bought a new position in shares of Cavium in the second quarter valued at approximately $584,000. First Midwest Bank Trust Division raised its stake in shares of Cavium by 2.4% in the second quarter. First Midwest Bank Trust Division now owns 20,348 shares of the semiconductor provider’s stock valued at $1,264,000 after acquiring an additional 475 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Cavium by 25.8% in the second quarter. Russell Investments Group Ltd. now owns 504,977 shares of the semiconductor provider’s stock valued at $31,373,000 after acquiring an additional 103,493 shares during the last quarter. Finally, Inverness Counsel LLC NY raised its stake in shares of Cavium by 2.8% in the second quarter. Inverness Counsel LLC NY now owns 164,645 shares of the semiconductor provider’s stock valued at $10,229,000 after acquiring an additional 4,530 shares during the last quarter.
Cavium Company Profile
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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