Cavium’s (CAVM) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Cavium, Inc. (NASDAQ:CAVM) in a research note published on Tuesday morning. Needham & Company LLC currently has a $90.00 target price on the semiconductor provider’s stock.

A number of other research firms have also commented on CAVM. Canaccord Genuity reissued a hold rating and issued a $85.00 price target (up previously from $67.00) on shares of Cavium in a research report on Tuesday. Jefferies Group LLC lowered shares of Cavium from a buy rating to a hold rating in a research report on Tuesday. Loop Capital lowered shares of Cavium from a buy rating to a hold rating and set a $84.00 price target on the stock. in a research report on Tuesday. Morgan Stanley lowered shares of Cavium from an overweight rating to an equal weight rating and set a $77.00 price target on the stock. in a research report on Tuesday. Finally, Macquarie lowered shares of Cavium from an outperform rating to a neutral rating in a research report on Tuesday. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Cavium presently has a consensus rating of Hold and an average target price of $80.71.

Cavium (CAVM) opened at $88.80 on Tuesday. The firm has a market cap of $6,140.00, a P/E ratio of 82.04, a P/E/G ratio of 3.20 and a beta of 1.27. The company has a current ratio of 2.87, a quick ratio of 2.27 and a debt-to-equity ratio of 0.81. Cavium has a 52-week low of $53.76 and a 52-week high of $88.96.

Cavium (NASDAQ:CAVM) last released its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The company had revenue of $251.99 million for the quarter, compared to analyst estimates of $250.16 million. During the same quarter last year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 49.9% compared to the same quarter last year. equities analysts expect that Cavium will post 1.33 EPS for the current year.

In other Cavium news, VP Anil Kumar Jain sold 8,500 shares of Cavium 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 in the company, valued at $7,869,814.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction on Friday, November 10th. The stock was 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 owns 60,039 shares in the company, valued at approximately $4,636,211.58. The disclosure for this sale can be found here. 4.65% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Solaris Asset Management LLC boosted its stake in shares of Cavium by 43.4% in the 2nd quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock valued at $143,000 after purchasing an additional 695 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Cavium by 107.3% in the 2nd 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 in the last quarter. World Asset Management Inc acquired a new stake in shares of Cavium in the 3rd quarter valued at $203,000. Tudor Investment Corp ET AL acquired a new stake in shares of Cavium in the 2nd quarter valued at $228,000. Finally, Pacad Investment Ltd. boosted its stake in shares of Cavium by 42.3% in the 2nd 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 in the last quarter.

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About Cavium

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.

Analyst Recommendations for Cavium (NASDAQ:CAVM)

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