KeyCorp reaffirmed their positive rating on shares of Cavium, Inc. (NASDAQ:CAVM) in a report published on Thursday morning. KeyCorp currently has a $90.00 price objective on the semiconductor provider’s stock, up from their previous price objective of $80.00. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently weighed in on the stock. Jefferies Group LLC set a $79.00 target price on shares of Cavium and gave the company a buy rating in a research note on Thursday, October 19th. Barclays PLC upgraded shares of Cavium from an equal weight rating to an overweight rating in a research note on Friday, July 21st. Morgan Stanley lowered their target price on shares of Cavium from $78.00 to $77.00 and set an overweight rating on the stock in a research note on Thursday, November 2nd. Raymond James Financial, Inc. restated an outperform rating and set a $75.00 target price on shares of Cavium in a research note on Thursday, September 14th. Finally, Stifel Nicolaus restated a hold rating and set a $66.00 target price on shares of Cavium in a research note on Thursday, October 12th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $78.50.
Shares of Cavium (CAVM) traded down $0.47 during trading on Thursday, hitting $75.83. 783,206 shares of the stock traded hands, compared to its average volume of 885,492. The company has a quick ratio of 2.27, a current ratio of 2.87 and a debt-to-equity ratio of 0.81. Cavium has a 1-year low of $53.73 and a 1-year high of $77.79. The stock has a market cap of $5,280.00, a PE ratio of 71.49, a PEG ratio of 2.79 and a beta of 1.27.
Cavium (NASDAQ:CAVM) last released its earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The company had revenue of $251.99 million for the quarter, compared to analysts’ expectations of $250.16 million. During the same quarter in the previous year, the company earned $0.43 EPS. Cavium’s revenue for the quarter was up 49.9% on a year-over-year basis. equities research analysts expect that Cavium will post 1.33 EPS for the current fiscal year.
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In other news, SVP Vincent P. Pangrazio sold 15,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were 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 in the company, valued at approximately $4,636,211.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.65% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Solaris Asset Management LLC increased its holdings in shares of Cavium by 43.4% in the 2nd quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock worth $143,000 after buying an additional 695 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Cavium by 107.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock valued at $160,000 after purchasing an additional 1,335 shares during the last quarter. World Asset Management Inc bought a new position in Cavium during the 3rd quarter valued at about $203,000. Tudor Investment Corp ET AL bought a new position in Cavium during the 2nd quarter valued at about $228,000. Finally, Pacad Investment Ltd. grew its holdings in Cavium by 42.3% during the 2nd quarter. Pacad Investment Ltd. now owns 3,700 shares of the semiconductor provider’s stock valued at $230,000 after purchasing an additional 1,100 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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