Susquehanna initiated coverage on shares of Cavium Inc. (NASDAQ:CAVM) in a research note issued to investors on Tuesday morning. The brokerage issued a positive rating and a $65.00 price objective on the semiconductor provider’s stock.

Analyst Recommendations for Cavium (NASDAQ:CAVM)

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reiterated an overweight rating on shares of Cavium in a research report on Tuesday, September 13th. Wedbush reiterated an outperform rating and set a $68.00 target price on shares of Cavium in a research report on Wednesday, June 15th. Brean Capital reiterated a buy rating and set a $57.00 target price (down previously from $60.00) on shares of Cavium in a research report on Thursday, July 28th. Canaccord Genuity reiterated a buy rating and set a $61.00 target price (down previously from $67.00) on shares of Cavium in a research report on Tuesday, June 7th. Finally, Needham & Company LLC restated a buy rating and issued a $66.00 price objective on shares of Cavium in a research report on Thursday, August 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $60.03.

Shares of Cavium (NASDAQ:CAVM) opened at 58.06 on Tuesday. The company’s 50-day moving average is $53.74 and its 200 day moving average is $50.84. Cavium has a 1-year low of $35.90 and a 1-year high of $73.95. The firm’s market capitalization is $3.36 billion.

Cavium (NASDAQ:CAVM) last announced its earnings results on Tuesday, July 26th. The semiconductor provider reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. The business earned $107.20 million during the quarter, compared to analysts’ expectations of $106.70 million. Cavium had a negative net margin of 1.94% and a positive return on equity of 4.39%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. On average, analysts expect that Cavium will post $1.44 EPS for the current fiscal year.

In other Cavium news, VP Arthur D. Chadwick acquired 10,000 shares of the stock in a transaction dated 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 completion of the acquisition, the vice president now directly owns 102,845 shares of the company’s stock, valued at $5,341,769.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Muhammad Raghib Hussain acquired 20,000 shares of the stock in a transaction dated Tuesday, August 16th. The stock was 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. 4.63% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of CAVM. Nomura Holdings Inc. increased its stake in Cavium by 395.8% in the second quarter. Nomura Holdings Inc. now owns 26,757 shares of the semiconductor provider’s stock worth $1,033,000 after buying an additional 21,360 shares during the period. Royal Bank of Canada increased its stake in Cavium by 72.3% in the second quarter. Royal Bank of Canada now owns 1,151,942 shares of the semiconductor provider’s stock worth $44,465,000 after buying an additional 483,391 shares during the period. Public Employees Retirement System of Ohio increased its stake in Cavium by 20.3% in the second quarter. Public Employees Retirement System of Ohio now owns 71,060 shares of the semiconductor provider’s stock worth $2,743,000 after buying an additional 11,983 shares during the period. Amalgamated Bank increased its stake in Cavium by 2.1% in the second quarter. Amalgamated Bank now owns 5,945 shares of the semiconductor provider’s stock worth $300,000 after buying an additional 120 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in Cavium by 5.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 40,492 shares of the semiconductor provider’s stock worth $1,563,000 after buying an additional 2,098 shares during the period. Institutional investors own 93.93% of the company’s stock.

Cavium Company Profile

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.

5 Day Chart for NASDAQ:CAVM

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