Investors Buy Cavium Inc. (CAVM) on Weakness
Traders purchased 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 companies 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 subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $68.00 price target on shares of Cavium in a report on Wednesday, June 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price target (down previously from $107.20) on shares of Cavium in a report on Wednesday, July 27th. Pacific Crest downgraded shares of Cavium from an “overweight” rating to an “overweight” rating in a report on Thursday, June 16th. Jefferies Group downgraded shares of Cavium from a “buy” rating to a “hold” rating in a report on Thursday, June 16th. Finally, Barclays PLC reaffirmed a “buy” rating on shares of Cavium in a report on Saturday, May 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $59.72.
The stock’s market cap is $3.26 billion. The stock has a 50-day moving average of $49.70 and a 200-day moving average of $51.21.
Cavium (NASDAQ:CAVM) last issued 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. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company earned $107.20 million during the quarter, compared to analyst estimates of $106.70 million. The business’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Cavium Inc. will post $1.45 EPS for the current fiscal year.
In other Cavium news, VP Arthur D. Chadwick bought 10,000 shares of Cavium stock in a transaction on Tuesday, August 16th. The shares were bought at an average cost of $51.94 per share, for a total transaction of $519,400.00. Following the acquisition, the vice president now directly owns 102,845 shares in the company, valued at $5,341,769.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Muhammad Raghib Hussain bought 20,000 shares of Cavium stock in a transaction on Tuesday, August 16th. The shares were acquired at an average price of $51.86 per share, for a total transaction of $1,037,200.00. 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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