Equities analysts forecast that Cavium, Inc. (NASDAQ:CAVM) will announce $238.92 million in sales for the current quarter, Zacks 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 posted sales of $107.16 million during the same quarter last year, which would indicate a positive year over year growth rate of 123%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that Cavium will report full-year sales of $238.92 million for the current financial year, with estimates ranging from $967.61 million to $978.66 million. For the next fiscal year, analysts expect that the company will report sales of $1.10 billion per share, with estimates ranging from $1.07 billion to $1.13 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Cavium.
Cavium (NASDAQ:CAVM) last released its earnings results on Wednesday, April 26th. The semiconductor provider reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.09. Cavium had a positive return on equity of 4.05% and a negative net margin of 26.52%. The business had revenue of $229.58 million for the quarter, compared to analyst estimates of $227.22 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 125.3% on a year-over-year basis.
Several equities research analysts have commented on the stock. Stifel Nicolaus raised their price target on shares of Cavium from $55.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, April 27th. Needham & Company LLC reiterated a “buy” rating and set a $78.00 price objective (up previously from $77.00) on shares of Cavium in a research note on Thursday, April 27th. Longbow Research started coverage on shares of Cavium in a research note on Friday, June 9th. They set a “buy” rating and a $85.00 price objective on the stock. BidaskClub lowered shares of Cavium from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. Finally, Pacific Crest reiterated an “equal weight” rating on shares of Cavium in a research note on Thursday, June 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Cavium presently has a consensus rating of “Buy” and a consensus price target of $73.50.
ILLEGAL ACTIVITY NOTICE: “$238.92 Million in Sales Expected for Cavium, Inc. (CAVM) This Quarter” was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://stocknewstimes.com/2017/07/29/238-92-million-in-sales-expected-for-cavium-inc-cavm-this-quarter-updated.html.
Cavium (NASDAQ CAVM) traded up 2.63% during trading on Wednesday, reaching $66.81. The company’s stock had a trading volume of 966,015 shares. The firm has a 50 day moving average of $66.99 and a 200 day moving average of $68.04. The stock’s market capitalization is $4.54 billion. Cavium has a 52 week low of $41.57 and a 52 week high of $76.26.
In other Cavium news, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $75.73, for a total transaction of $1,135,950.00. Following the completion of the sale, the senior vice president now owns 60,039 shares of the company’s stock, valued at approximately $4,546,753.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Arthur D. Chadwick sold 40,000 shares of Cavium stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $75.14, for a total transaction of $3,005,600.00. Following the sale, the vice president now directly 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. Company insiders own 4.65% of the company’s stock.
Several large investors have recently modified their holdings of CAVM. IFP Advisors Inc raised its stake in shares of Cavium by 6.9% in the first quarter. IFP Advisors Inc now owns 1,559 shares of the semiconductor provider’s stock worth $112,000 after buying an additional 101 shares during the period. Solaris Asset Management LLC raised its stake in shares of Cavium by 52.4% in the first quarter. Solaris Asset Management LLC now owns 1,600 shares of the semiconductor provider’s stock worth $115,000 after buying an additional 550 shares during the period. US Bancorp DE raised its stake in shares of Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock worth $135,000 after buying an additional 868 shares during the period. Bluestein R H & Co. bought a new stake in shares of Cavium during the first quarter worth about $215,000. Finally, FNY Partners Fund LP raised its stake in shares of Cavium by 1.2% in the first quarter. FNY Partners Fund LP now owns 3,400 shares of the semiconductor provider’s stock worth $243,000 after buying an additional 40 shares during the period.
Cavium Company Profile
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.
Get a free copy of the Zacks research report on Cavium (CAVM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cavium Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavium Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
