Cavium Inc. (CAVM) Raised to “Hold” at TheStreet

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Cavium Inc. (NASDAQ:CAVM) was upgraded by analysts at TheStreet from a “sell” rating to a “hold” rating in a research report issued on Friday.
Other research analysts also recently issued reports about the company. Barclays PLC reiterated a “buy” rating on shares of Cavium in a report on Saturday, May 14th. Pacific Crest downgraded Cavium from an “overweight” rating to an “overweight” rating in a report on Thursday, June 16th. Jefferies Group downgraded Cavium from a “buy” rating to a “hold” rating in a report on Thursday, June 16th. Canaccord Genuity downgraded Cavium from a “buy” rating to a “hold” rating and cut their price target for the company from $61.00 to $48.00 in a report on Thursday, June 16th. They noted that the move was a valuation call. Finally, Brean Capital reiterated a “buy” rating and issued a $60.00 price target (down from $67.00) on shares of Cavium in a report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $59.72.
Other large investors have recently bought and sold shares of the company. TimesSquare Capital Management LLC raised its stake in Cavium by 8.3% in the first quarter. TimesSquare Capital Management LLC now owns 813,400 shares of the semiconductor provider’s stock valued at $49,748,000 after buying an additional 62,100 shares during the period. JPMorgan Chase & Co. raised its stake in Cavium by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 1,436,860 shares of the semiconductor provider’s stock valued at $87,878,000 after buying an additional 244,463 shares during the period. Massmutual Trust Co. FSB ADV purchased a new stake in Cavium during the first quarter valued at approximately $226,000. BlackRock Inc. raised its stake in Cavium by 124.8% in the first quarter. BlackRock Inc. now owns 3,728 shares of the semiconductor provider’s stock valued at $228,000 after buying an additional 2,070 shares during the period. Finally, Pacad Investment Ltd. purchased a new stake in Cavium during the first quarter valued at approximately $428,000.

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In other news, VP Arthur D. Chadwick acquired 10,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was bought at an average cost of $51.94 per share, for a total transaction of $519,400.00. Following the purchase, the vice president now owns 102,845 shares in the company, valued at $5,341,769.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Arthur D. Chadwick acquired 20,000 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were purchased at an average price of $55.33 per share, with a total value of $1,106,600.00. Following the completion of the purchase, the vice president now owns 122,845 shares in the company, valued at approximately $6,797,013.85. The disclosure for this purchase can be found here.
Cavium (NASDAQ:CAVM) traded down 1.72% on Friday, reaching $55.31. The company’s stock had a trading volume of 1,972,290 shares. Cavium has a 1-year low of $35.90 and a 1-year high of $73.95. The company’s market capitalization is $3.20 billion. The firm’s 50 day moving average price is $50.32 and its 200-day moving average price is $51.07.
Cavium (NASDAQ:CAVM) last issued its earnings results on Tuesday, July 26th. The semiconductor provider reported $0.29 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.29. During the same period last year, the firm earned $0.41 earnings per share. The firm had revenue of $107.20 million for the quarter, compared to the consensus estimate of $106.70 million. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts forecast that Cavium will post $1.45 earnings per share for the current year.
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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