Zacks: Brokerages Expect Cavium Inc (CAVM) Will Announce Quarterly Sales of $259.99 Million

Wall Street analysts forecast that Cavium Inc (NASDAQ:CAVM) will post $259.99 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Cavium’s earnings. The lowest sales estimate is $255.00 million and the highest is $265.00 million. Cavium reported sales of $229.58 million during the same quarter last year, which indicates a positive year over year growth rate of 13.2%. The company is expected to announce its next quarterly earnings report on Wednesday, April 25th.

According to Zacks, analysts expect that Cavium will report full-year sales of $1.11 billion for the current fiscal year, with estimates ranging from $1.09 billion to $1.13 billion. For the next year, analysts forecast that the firm will post sales of $1.26 billion per share, with estimates ranging from $1.22 billion to $1.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Cavium.

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Cavium (NASDAQ:CAVM) last issued its earnings results on Wednesday, January 31st. The semiconductor provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The company had revenue of $260.36 million during the quarter, compared to the consensus estimate of $260.05 million. Cavium had a positive return on equity of 14.07% and a negative net margin of 7.00%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS.

Several research firms recently issued reports on CAVM. BidaskClub downgraded Cavium from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. Raymond James Financial downgraded Cavium from an “outperform” rating to a “market perform” rating and set a $80.00 price target for the company. in a research note on Friday, February 2nd. Stifel Nicolaus boosted their price target on Cavium from $68.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, February 1st. Finally, Zacks Investment Research upgraded Cavium from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $79.33.

In other Cavium news, CEO Syed Ali sold 125,000 shares of Cavium stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $88.71, for a total value of $11,088,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,023,101 shares of the company’s stock, valued at approximately $179,469,289.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Arthur D. Chadwick sold 50,798 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $88.41, for a total value of $4,491,051.18. Following the transaction, the chief financial officer now directly owns 116,811 shares of the company’s stock, valued at approximately $10,327,260.51. The disclosure for this sale can be found here. Insiders sold a total of 353,962 shares of company stock valued at $31,361,100 over the last ninety days. Insiders own 4.65% of the company’s stock.

Several institutional investors have recently bought and sold shares of CAVM. Deutsche Bank AG raised its holdings in shares of Cavium by 194.7% during the 4th quarter. Deutsche Bank AG now owns 1,278,438 shares of the semiconductor provider’s stock worth $107,168,000 after buying an additional 844,622 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in shares of Cavium during the 4th quarter worth $69,825,000. Carillon Tower Advisers Inc. acquired a new position in shares of Cavium during the 4th quarter worth $36,031,000. Omni Partners LLP acquired a new position in shares of Cavium during the 4th quarter worth $30,098,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Cavium by 130.7% during the 4th quarter. Alliancebernstein L.P. now owns 484,307 shares of the semiconductor provider’s stock worth $40,599,000 after buying an additional 274,390 shares in the last quarter. 92.11% of the stock is owned by institutional investors.

CAVM traded up $0.74 during trading on Friday, hitting $81.37. The stock had a trading volume of 15,800 shares, compared to its average volume of 1,048,136. The company has a market capitalization of $5,675.23, a PE ratio of 1,007.88, a price-to-earnings-growth ratio of 2.03 and a beta of 1.34. Cavium has a one year low of $56.96 and a one year high of $92.66. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.80 and a quick ratio of 2.26.

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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.

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