Today, Brokerages Set Cavium Inc. (CAVM) Target Price at $59.27

Today, Brokerages Set Cavium Inc. (CAVM) Target Price at $59.27

Shares of Cavium Inc. (NASDAQ:CAVM) have been assigned a consensus rating of “Buy” from the twenty-two brokerages that are presently covering the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $59.27.

CAVM has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price target on shares of Cavium in a research note on Thursday, August 25th. Zacks Investment Research raised shares of Cavium from a “sell” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Wednesday, July 13th. Brean Capital reaffirmed a “buy” rating and issued a $57.00 price target (down from $60.00) on shares of Cavium in a research note on Thursday, July 28th. TheStreet raised shares of Cavium from a “sell” rating to a “hold” rating in a research note on Friday, September 2nd. Finally, Pacific Crest reaffirmed a “hold” rating on shares of Cavium in a research note on Wednesday, July 27th.

Cavium (NASDAQ:CAVM) opened at 53.58 on Wednesday. The firm has a 50-day moving average of $55.89 and a 200 day moving average of $50.45. Cavium has a 12-month low of $35.90 and a 12-month high of $73.95. The company’s market capitalization is $3.10 billion.

Cavium (NASDAQ:CAVM) last posted its quarterly earnings results on Tuesday, July 26th. The semiconductor provider reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. Cavium had a negative net margin of 1.94% and a positive return on equity of 4.39%. The firm earned $107.20 million during the quarter, compared to the consensus estimate of $106.70 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. Analysts forecast that Cavium will post $1.44 EPS for the current fiscal year.

In other news, VP Arthur D. Chadwick bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were acquired at an average price of $55.33 per share, with a total value of $1,106,600.00. Following the acquisition, the vice president now owns 122,845 shares of the company’s stock, valued at approximately $6,797,013.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Arthur D. Chadwick bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were purchased at an average cost of $51.94 per share, for a total transaction of $519,400.00. Following the acquisition, the vice president now directly owns 102,845 shares in the company, valued at approximately $5,341,769.30. The disclosure for this purchase can be found here. Corporate insiders own 4.63% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CAVM. Nisa Investment Advisors LLC raised its stake in Cavium by 54.0% in the third quarter. Nisa Investment Advisors LLC now owns 18,020 shares of the semiconductor provider’s stock worth $1,049,000 after buying an additional 6,320 shares during the period. Cupps Capital Management LLC raised its stake in Cavium by 114.7% in the third quarter. Cupps Capital Management LLC now owns 56,822 shares of the semiconductor provider’s stock worth $3,307,000 after buying an additional 30,356 shares during the period. Fisher Asset Management LLC raised its stake in Cavium by 36.1% in the third quarter. Fisher Asset Management LLC now owns 134,650 shares of the semiconductor provider’s stock worth $7,837,000 after buying an additional 35,722 shares during the period. Gofen & Glossberg LLC IL purchased a new stake in Cavium during the third quarter worth $231,000. Finally, First Mercantile Trust Co. purchased a new stake in Cavium during the third quarter worth $106,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.

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