Cavium Inc (CAVM) Expected to Announce Quarterly Sales of $259.94 Million

Brokerages expect Cavium Inc (NASDAQ:CAVM) to announce sales of $259.94 million for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Cavium’s earnings. The highest sales estimate is $261.11 million and the lowest is $258.50 million. Cavium reported sales of $226.15 million in the same quarter last year, which indicates a positive year over year growth rate of 14.9%. The firm is expected to issue its next earnings report on Wednesday, February 7th.

On average, analysts expect that Cavium will report full-year sales of $259.94 million for the current financial year, with estimates ranging from $982.10 million to $984.77 million. For the next year, analysts forecast that the company will report sales of $1.11 billion per share, with estimates ranging from $1.09 billion to $1.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Cavium.

Cavium (NASDAQ:CAVM) last released its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $251.99 million for the quarter, compared to analysts’ expectations of $250.16 million. During the same period in the prior year, the firm earned $0.43 earnings per share. Cavium’s revenue was up 49.9% compared to the same quarter last year.

CAVM has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Cavium from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Monday, November 6th. Canaccord Genuity lifted their price target on shares of Cavium from $66.00 to $67.00 and gave the stock a “hold” rating in a research report on Thursday, November 2nd. Morgan Stanley cut shares of Cavium from an “overweight” rating to an “equal weight” rating and set a $77.00 price target on the stock. in a research report on Tuesday, November 21st. Raymond James Financial reissued an “outperform” rating and set a $75.00 price target on shares of Cavium in a research report on Thursday, September 14th. Finally, Loop Capital lowered shares of Cavium from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. Cavium presently has a consensus rating of “Hold” and a consensus target price of $78.41.

Shares of Cavium (CAVM) traded up $1.75 during mid-day trading on Wednesday, reaching $85.58. 1,131,500 shares of the company’s stock were exchanged, compared to its average volume of 1,106,150. Cavium has a 1 year low of $56.96 and a 1 year high of $88.96. The company has a market capitalization of $6,000.00, a PE ratio of -30.46, a PEG ratio of 2.05 and a beta of 1.35. The company has a current ratio of 2.87, a quick ratio of 2.27 and a debt-to-equity ratio of 0.81.

In other news, VP Anil Kumar Jain sold 8,500 shares of Cavium stock in a transaction dated 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 of the company’s stock, valued at approximately $7,869,814.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction dated 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 directly 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. Company insiders own 4.65% of the company’s stock.

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

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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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