Cavium Inc. (NASDAQ:CAVM) shares fell 1.9% during mid-day trading on Tuesday . The stock traded as low as $42.22 and last traded at $42.75, with a volume of 1,185,280 shares changing hands. The stock had previously closed at $43.56.

Several research firms have recently issued reports on CAVM. Zacks Investment Research raised Cavium from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. Wedbush lowered their price objective on Cavium from $74.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, April 28th. Topeka Capital Markets lowered their price objective on Cavium from $63.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, April 28th. Morgan Stanley lowered their price objective on Cavium from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, April 28th. Finally, Barclays PLC lowered their price objective on Cavium from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, April 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $60.87.

The stock has a 50-day moving average price of $41.57 and a 200 day moving average price of $51.66. The stock’s market cap is $2.51 billion.

Cavium (NASDAQ:CAVM) last released its quarterly earnings data on Tuesday, July 26th. The semiconductor provider reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The firm had revenue of $107.20 million for the quarter, compared to analysts’ expectations of $106.70 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Cavium Inc. will post $1.33 earnings per share for the current year.

Several hedge funds and institutional investors recently made changes to their positions in CAVM. Standard Life Investments LTD increased its position in shares of Cavium by 16.5% in the fourth quarter. Standard Life Investments LTD now owns 3,195,333 shares of the semiconductor provider’s stock worth $209,997,000 after buying an additional 452,331 shares in the last quarter. Thornburg Investment Management Inc. bought a new position in shares of Cavium during the fourth quarter worth about $10,703,000. Mutual of America Capital Management LLC increased 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 worth $4,767,000 after buying an additional 474 shares in the last quarter. Rhumbline Advisers increased 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 worth $3,904,000 after buying an additional 2,725 shares in the last quarter. Finally, Employees Retirement System of Texas increased its position in shares of Cavium by 18.8% in the fourth quarter. Employees Retirement System of Texas now owns 38,000 shares of the semiconductor provider’s stock worth $2,497,000 after buying an additional 6,000 shares in the last quarter.

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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