The stock of Cavium Inc (NASDAQ:CAVM) is a huge mover today! About 382,066 shares traded hands. Cavium Inc (NASDAQ:CAVM) has declined 6.00% since March 1, 2016 and is downtrending. It has underperformed by 15.24% the S&P500.
The move comes after 9 months positive chart setup for the $3.24B company. It was reported on Oct, 4 by Barchart.com. We have $87.30 PT which if reached, will make NASDAQ:CAVM worth $1.72 billion more.
Analysts await Cavium Inc (NASDAQ:CAVM) to report earnings on October, 26. They expect $0.13 earnings per share, down 18.75% or $0.03 from last year’s $0.16 per share. CAVM’s profit will be $7.38M for 109.73 P/E if the $0.13 EPS becomes a reality. After $0.04 actual earnings per share reported by Cavium Inc for the previous quarter, Wall Street now forecasts 225.00% EPS growth.
Cavium Inc (NASDAQ:CAVM) Ratings Coverage
Out of 16 analysts covering Cavium Networks Inc. (NASDAQ:CAVM), 9 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 56% are positive. Cavium Networks Inc. has been the topic of 29 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock of Cavium Inc (NASDAQ:CAVM) earned “Overweight” rating by Barclays Capital on Friday, May 13. The rating was maintained by Topeka Capital Markets on Thursday, April 28 with “Hold”. As per Thursday, April 28, the company rating was maintained by Morgan Stanley. The firm earned “Overweight” rating on Saturday, September 5 by Barclays Capital. On Thursday, December 10 the stock rating was initiated by Bank of America with “Neutral”. Canaccord Genuity maintained the stock with “Buy” rating in Thursday, July 30 report. The firm has “Hold” rating given on Thursday, January 28 by Topeka Capital Markets. The rating was maintained by Wedbush on Thursday, April 28 with “Outperform”. JP Morgan maintained the stock with “Overweight” rating in Tuesday, September 13 report. The stock of Cavium Inc (NASDAQ:CAVM) has “Buy” rating given on Thursday, August 13 by Canaccord Genuity.
According to Zacks Investment Research, “Cavium, Inc. is engaged in providing semiconductor processors that enable networking, communications, storage, video and security applications. The Company offers software compatible processors with functionality in enterprise, data-center, broadband/consumer and access and service provider equipment. Its processors are supported by ecosystem partners that provide operating systems, tools and application support, hardware reference designs and other services. Cavium, Inc., formerly known as Cavium Networks, Inc., is headquartered in Mountain View, California.”
Insitutional Activity: The institutional sentiment decreased to 0.9 in Q2 2016. Its down 0.05, from 0.95 in 2016Q1. The ratio dropped, as 59 funds sold all Cavium Inc shares owned while 59 reduced positions. 30 funds bought stakes while 76 increased positions. They now own 60.99 million shares or 0.39% less from 61.23 million shares in 2016Q1.
Clinton Gp accumulated 0.01% or 6,261 shares. Manufacturers Life Com The holds 0% or 37,684 shares in its portfolio. Blackrock Fund has invested 0.01% of its portfolio in Cavium Inc (NASDAQ:CAVM). Westpac Bk Corporation holds 0% of its portfolio in Cavium Inc (NASDAQ:CAVM) for 9,979 shares. Plante Moran Advsr Ltd holds 292 shares or 0.01% of its portfolio. The New York-based Alliancebernstein Ltd Partnership has invested 0.01% in Cavium Inc (NASDAQ:CAVM). Legal General Public Ltd Com last reported 0% of its portfolio in the stock. Maplelane Capital Ltd holds 0.67% of its portfolio in Cavium Inc (NASDAQ:CAVM) for 410,000 shares. Pnc Financial Svcs Group has invested 0% of its portfolio in Cavium Inc (NASDAQ:CAVM). Premier Asset Managment Ltd accumulated 1.69% or 169,605 shares. Vanguard Inc owns 3.99 million shares or 0.01% of their US portfolio. Thrivent Financial For Lutherans last reported 0.03% of its portfolio in the stock. Fmr Limited Liability Company holds 0.05% of its portfolio in Cavium Inc (NASDAQ:CAVM) for 8.60M shares. D E Shaw And Com accumulated 112,161 shares or 0.01% of the stock. Harvest Limited Liability owns 8,000 shares or 0.23% of their US portfolio.
Insider Transactions: Since August 16, 2016, the stock had 3 buys, and 0 sales for $2.66 million net activity. CHADWICK ARTHUR D also bought $519,400 worth of Cavium Inc (NASDAQ:CAVM) on Tuesday, August 16. Hussain Muhammad Raghib had bought 20,000 shares worth $1.04 million on Tuesday, August 16.
More notable recent Cavium Inc (NASDAQ:CAVM) news were published by: Prnewswire.com which released: “Cavium Schedules Q3 2016 Financial Results Conference Call” on October 03, 2016, also Prnewswire.com with their article: “Cavium, Inc. Commences Exchange Offer to Acquire QLogic Corporation” published on July 13, 2016, Prnewswire.com published: “Cavium, Inc. Announces Extension of the Expiration of the Exchange Offer in …” on August 10, 2016. More interesting news about Cavium Inc (NASDAQ:CAVM) were released by: Prnewswire.com and their article: “Cavium, Inc. Announces Successful Completion of the Exchange Offer in …” published on August 16, 2016 as well as Prnewswire.com‘s news article titled: “Cavium Adds Microsemi’s Storage Solutions to ThunderX® Processor Family” with publication date: June 21, 2016.
CAVM Company Profile
Cavium, Inc., incorporated on June 22, 2006, is a well-known 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. It offers integrated semiconductors that provide single or multiple cores of processors, along with intelligent Layer 2 through 7 processing for enterprise network, data center, broadband and consumer, and access and service well-known provider markets.
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