Wall Street analysts expect that Cavium, Inc. (NASDAQ:CAVM) will announce sales of $238.92 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Cavium’s earnings, with the lowest sales estimate coming in at $238.18 million and the highest estimate coming in at $239.33 million. Cavium reported sales of $107.16 million in the same quarter last year, which would suggest a positive year over year growth rate of 123%. The company is expected to issue its next quarterly earnings results on Tuesday, July 25th.
On average, analysts expect that Cavium will report full year sales of $238.92 million for the current fiscal year, with estimates ranging from $967.61 million to $978.66 million. For the next year, analysts anticipate that the company will post sales of $1.09 billion per share, with estimates ranging from $1.07 billion to $1.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Cavium.
Cavium (NASDAQ:CAVM) last issued its quarterly earnings data on Wednesday, April 26th. The semiconductor provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.09. The firm had revenue of $229.58 million for the quarter, compared to analysts’ expectations of $227.22 million. Cavium had a positive return on equity of 4.05% and a negative net margin of 26.52%. The business’s revenue for the quarter was up 125.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS.
CAVM has been the subject of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $77.00 target price on shares of Cavium in a research report on Monday, February 27th. Bank of America Corporation reissued a “buy” rating on shares of Cavium in a research report on Thursday, March 2nd. Barclays PLC boosted their target price on shares of Cavium from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, March 6th. Argus boosted their target price on shares of Cavium from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, March 14th. Finally, Macquarie initiated coverage on shares of Cavium in a research report on Thursday, March 30th. They issued an “outperform” rating and a $85.00 target price for the company. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Cavium presently has an average rating of “Buy” and a consensus price target of $72.79.
Shares of Cavium (CAVM) traded down 0.06% during trading on Thursday, hitting $66.75. The company’s stock had a trading volume of 7,343,221 shares. The firm’s 50 day moving average price is $71.07 and its 200-day moving average price is $67.88. Cavium has a 52 week low of $35.90 and a 52 week high of $76.26. The company’s market cap is $4.53 billion.
In other Cavium news, SVP Vincent P. Pangrazio sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $75.73, for a total value of $1,135,950.00. Following the completion of the transaction, the senior vice president now owns 60,039 shares in the company, valued at approximately $4,546,753.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Arthur D. Chadwick sold 40,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $75.14, for a total transaction of $3,005,600.00. Following the completion of the transaction, the vice president now owns 75,383 shares of the company’s stock, valued at approximately $5,664,278.62. The disclosure for this sale can be found here. 4.65% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CAVM. IFP Advisors Inc boosted its position in Cavium by 6.9% in the first quarter. IFP Advisors Inc now owns 1,559 shares of the semiconductor provider’s stock valued at $112,000 after buying an additional 101 shares during the period. Solaris Asset Management LLC boosted its position in Cavium by 52.4% in the first quarter. Solaris Asset Management LLC now owns 1,600 shares of the semiconductor provider’s stock valued at $115,000 after buying an additional 550 shares during the period. US Bancorp DE boosted its position in Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock valued at $135,000 after buying an additional 868 shares during the period. Bluestein R H & Co. purchased a new position in Cavium during the first quarter valued at approximately $215,000. Finally, FNY Partners Fund LP boosted its position in Cavium by 1.2% in the first quarter. FNY Partners Fund LP now owns 3,400 shares of the semiconductor provider’s stock valued at $243,000 after buying an additional 40 shares during the period.
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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