Zacks: Analysts Anticipate Cavium, Inc. (CAVM) Will Post Quarterly Sales of $260.18 Million
Equities analysts expect Cavium, Inc. (NASDAQ:CAVM) to report $260.18 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Cavium’s earnings, with the highest sales estimate coming in at $261.81 million and the lowest estimate coming in at $258.50 million. Cavium posted sales of $226.15 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that Cavium will report full-year sales of $260.18 million for the current year, with estimates ranging from $982.10 million to $985.47 million. For the next year, analysts forecast that the business will post sales of $1.11 billion per share, with estimates ranging from $1.09 billion to $1.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Cavium.
Cavium (NASDAQ:CAVM) last posted its earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $251.99 million for the quarter, compared to analysts’ expectations of $250.16 million. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The company’s revenue was up 49.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share.
A number of research firms have weighed in on CAVM. Jefferies Group set a $79.00 target price on shares of Cavium and gave the stock a “buy” rating in a research note on Thursday, October 19th. Benchmark cut shares of Cavium from a “buy” rating to a “hold” rating in a research note on Monday, November 20th. MKM Partners reissued a “buy” rating and issued a $81.00 price objective on shares of Cavium in a research note on Wednesday, August 16th. Loop Capital reissued a “buy” rating and issued a $81.00 price objective on shares of Cavium in a research note on Tuesday, August 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $78.00 price objective on shares of Cavium in a research note on Thursday, November 2nd. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Cavium has an average rating of “Hold” and an average price target of $78.41.
In other Cavium news, VP Anil Kumar Jain sold 8,500 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $85.90, for a total transaction of $730,150.00. Following the sale, the vice president now owns 91,616 shares of the company’s stock, valued at $7,869,814.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vincent P. Pangrazio sold 15,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $77.22, for a total transaction of $1,158,300.00. Following the sale, the senior vice president now directly owns 60,039 shares in the company, valued at approximately $4,636,211.58. The disclosure for this sale can be found here. Corporate insiders own 4.65% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Solaris Asset Management LLC boosted its position in Cavium by 43.4% during the second quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock valued at $143,000 after acquiring an additional 695 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Cavium by 107.3% during the second quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock valued at $160,000 after purchasing an additional 1,335 shares during the period. World Asset Management Inc acquired a new position in shares of Cavium during the third quarter valued at about $203,000. Tudor Investment Corp ET AL acquired a new position in shares of Cavium during the second quarter valued at about $228,000. Finally, Pacad Investment Ltd. raised its holdings in shares of Cavium by 42.3% during the second quarter. Pacad Investment Ltd. now owns 3,700 shares of the semiconductor provider’s stock valued at $230,000 after purchasing an additional 1,100 shares during the period.
Cavium (NASDAQ:CAVM) traded down $0.04 during midday trading on Wednesday, hitting $87.56. 1,856,500 shares of the company’s stock were exchanged, compared to its average volume of 1,024,229. The company has a market capitalization of $6,060.00, a PE ratio of 82.22, a PEG ratio of 3.20 and a beta of 1.27. Cavium has a 12-month low of $53.76 and a 12-month high of $88.96. The company has a current ratio of 2.87, a quick ratio of 2.27 and a debt-to-equity ratio of 0.81.
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Cavium Company Profile
Cavium, Inc is a provider of integrated semiconductor processors that enable intelligent processing for wired and wireless infrastructure and cloud for networking, communications, storage and security applications. The Company’s products consist of multi-core processors for embedded and data center applications, network connectivity for server and switches, storage connectivity, and security processors for offload and appliance.
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