Cavium Inc. (NASDAQ:CAVM) shot up 6.4% during mid-day trading on Wednesday . The company traded as high as $39.48 and last traded at $38.95, with a volume of 1,435,590 shares. The stock had previously closed at $36.61.

A number of brokerages recently issued reports on CAVM. Zacks Investment Research raised Cavium from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th. KeyCorp reissued an “overweight” rating on shares of Cavium in a research report on Thursday, March 10th. Barclays PLC reduced their price target on Cavium from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, April 28th. Morgan Stanley reduced their price target on Cavium from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, April 28th. Finally, Wedbush reduced their target price on Cavium from $74.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $61.87.

The firm’s market capitalization is $2.22 billion. The firm has a 50-day moving average of $44.03 and a 200-day moving average of $53.76.

Cavium (NASDAQ:CAVM) last released its quarterly earnings results on Wednesday, April 27th. The semiconductor provider reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. The firm earned $101.90 million during the quarter, compared to the consensus estimate of $102.13 million. During the same period in the previous year, the company posted $0.40 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts predict that Cavium Inc. will post $1.34 earnings per share for the current year.

A number of hedge funds and institutional investors recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of Cavium by 4.8% in the fourth quarter. Rhumbline Advisers now owns 59,408 shares of the semiconductor provider’s stock valued at $3,904,000 after buying an additional 2,725 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in shares of Cavium during the fourth quarter valued at about $4,083,000. Mutual of America Capital Management LLC raised its position in shares of Cavium by 0.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 72,545 shares of the semiconductor provider’s stock valued at $4,767,000 after buying an additional 474 shares during the period. Sei Investments Co. raised its position in shares of Cavium by 65.3% in the fourth quarter. Sei Investments Co. now owns 101,605 shares of the semiconductor provider’s stock valued at $6,677,000 after buying an additional 40,141 shares during the period. Finally, Thornburg Investment Management Inc. bought a new position in shares of Cavium during the fourth quarter valued at about $10,703,000.

Cavium, Inc is a provider of semiconductor processors, which enables processing for wired and wireless networking, communications, storage, cloud, wireless, security, video and connected home and office applications. The Company’s products include OCTEON, OCTEON Fusion, OCTEON XL, LiquidIO, NITROX, NEURON Search, ThunderX, Xpliant and XPA.

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