Investors Buy Cavium Inc. (CAVM) on Weakness
Investors bought shares of Cavium Inc. (NASDAQ:CAVM) on weakness during trading on Friday. $62.86 million flowed into the stock on the tick-up and $18.60 million flowed out of the stock on the tick-down, for a money net flow of $44.26 million into the stock. Of all stocks tracked, Cavium had the 9th highest net in-flow for the day. Cavium traded down ($0.43) for the day and closed at $56.28
CAVM has been the topic of a number of research analyst reports. Barclays PLC reduced their price target on shares of Cavium from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, May 13th. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of Cavium in a research note on Tuesday, May 31st. Canaccord Genuity reissued a “buy” rating and issued a $61.00 price target (down from $67.00) on shares of Cavium in a research note on Tuesday, June 7th. Wedbush reissued an “outperform” rating and issued a $68.00 price target on shares of Cavium in a research note on Wednesday, June 15th. Finally, Oppenheimer Holdings Inc. downgraded shares of Cavium from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 15th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $59.72.
The company has a 50 day moving average of $49.70 and a 200 day moving average of $51.21. The firm’s market cap is $3.26 billion.
Cavium (NASDAQ:CAVM) last issued its earnings results on Tuesday, July 26th. The semiconductor provider reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. During the same quarter in the previous year, the company posted $0.41 earnings per share. The firm 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% compared to the same quarter last year. On average, equities analysts anticipate that Cavium Inc. will post $1.45 EPS for the current year.
In related news, COO Muhammad Raghib Hussain acquired 20,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was purchased at an average cost of $51.86 per share, for a total transaction of $1,037,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Arthur D. Chadwick acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were bought at an average price of $51.94 per share, with a total value of $519,400.00. Following the completion of the purchase, the vice president now directly owns 102,845 shares of the company’s stock, valued at $5,341,769.30. The disclosure for this purchase can be found here.
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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