Cavium Inc. (NASDAQ:CAVM) shot up 9.1% during trading on Wednesday . The company traded as high as $51.21 and last traded at $47.73, with a volume of 4,007,804 shares changing hands. The stock had previously closed at $43.73.

A number of research firms have commented on CAVM. Barclays PLC reissued a “buy” rating on shares of Cavium in a report on Saturday, May 14th. Brean Capital initiated coverage on Cavium in a research report on Tuesday, May 3rd. They set a “buy” rating and a $67.00 price objective for the company. Wedbush cut their price objective on Cavium from $74.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, April 28th. Morgan Stanley cut their price objective on Cavium from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, April 28th. Finally, TheStreet lowered Cavium from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $60.67.

The firm’s 50 day moving average is $41.49 and its 200-day moving average is $51.59. The company’s market capitalization is $2.72 billion.

Cavium (NASDAQ:CAVM) last released its quarterly earnings results on Tuesday, July 26th. The semiconductor provider reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $107.20 million for the quarter, compared to analyst estimates of $106.70 million. During the same quarter last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts expect that Cavium Inc. will post $1.34 EPS for the current fiscal year.

Other hedge funds have added to or reduced their stakes in the company. Employees Retirement System of Texas increased its stake in 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 during the last quarter. Rhumbline Advisers increased its stake in 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 during the last quarter. Finally, Thornburg Investment Management Inc. acquired a new stake in Cavium during the fourth quarter worth approximately $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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