Investors Buy Shares of Cavium Inc. (CAVM) on Weakness
Traders bought shares of Cavium Inc. (NASDAQ:CAVM) on weakness during trading hours on Monday. $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 4th 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 recent research reports. Wedbush reaffirmed an “outperform” rating and set a $68.00 price target on shares of Cavium in a research report on Wednesday, June 15th. Brean Capital reaffirmed a “buy” rating and set a $57.00 price target (down previously from $60.00) on shares of Cavium in a research report on Thursday, July 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $61.00 price target (down previously from $67.00) on shares of Cavium in a research report on Tuesday, June 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of Cavium in a research report on Thursday, August 25th. Finally, Barclays PLC upped their price target on Cavium from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Cavium presently has a consensus rating of “Hold” and a consensus target price of $59.72.
The stock has a 50 day moving average of $49.70 and a 200-day moving average of $51.21. The company’s market cap is $3.26 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, meeting the Thomson Reuters’ consensus estimate of $0.29. The company had revenue of $107.20 million for the quarter, compared to analysts’ expectations of $106.70 million. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. On average, equities research analysts anticipate that Cavium Inc. will post $1.45 earnings per share for the current year.
In other Cavium news, COO Muhammad Raghib Hussain acquired 20,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were acquired at an average price of $51.86 per share, with a total value of $1,037,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Arthur D. Chadwick acquired 10,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was acquired at an average cost of $51.94 per share, for a total transaction of $519,400.00. Following the transaction, the vice president now owns 102,845 shares of the company’s stock, valued at approximately $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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