Cavium Inc. (CAVM) Trading Up 4%
Cavium Inc. (NASDAQ:CAVM) shares were up 4% during mid-day trading on Thursday . The company traded as high as $50.45 and last traded at $50.45, with a volume of 817,030 shares. The stock had previously closed at $48.49.
A number of research analysts have recently issued reports on CAVM shares. Wedbush reiterated an “outperform” rating and set a $68.00 price target on shares of Cavium in a research note on Wednesday, June 15th. Brean Capital restated a “buy” rating and set a $57.00 target price (down from $60.00) on shares of Cavium in a research report on Thursday, July 28th. Canaccord Genuity restated a “buy” rating and set a $61.00 target price (down from $67.00) on shares of Cavium in a research report on Tuesday, June 7th. Barclays PLC upped their target price on shares of Cavium from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of Cavium in a research report on Tuesday, May 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $60.33.
The company’s market cap is $2.91 billion. The firm has a 50-day moving average price of $42.89 and a 200-day moving average price of $51.04.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings data on Tuesday, July 26th. The semiconductor provider reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. The business earned $107.20 million during the quarter, compared to analyst estimates of $106.70 million. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. On average, analysts expect that Cavium Inc. will post $1.34 EPS for the current year.
Several institutional investors have made changes to their positions in CAVM. Coe Capital Management LLC acquired a new position in shares of Cavium during the fourth quarter valued at about $1,683,000. RS Investment Management Co. LLC boosted its position in shares of Cavium by 224.3% in the fourth quarter. RS Investment Management Co. LLC now owns 1,121,980 shares of the semiconductor provider’s stock valued at $73,725,000 after buying an additional 776,060 shares in the last quarter. Finally, Employees Retirement System of Texas boosted 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 valued at $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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