Equities research analysts at Barclays Capital (NYSE: BCS) lowered their price target on shares of Cavium Networks (NASDAQ: CAVM) from $37.00 to $34.00 in a research note issued to investors on Wednesday. The firm currently has an “overweight” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank (NYSE: DB) cut their price target on shares of Cavium Networks to $22.00 in a research note to investors on Wednesday. Separately, analysts at Jefferies Group (NYSE: JEF) cut their price target on shares of Cavium Networks from $40.00 to $37.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Wunderlich raised their price target on shares of Cavium Networks from $18.00 to $20.00 in a research note to investors on Wednesday. They now have a “sell” rating on the stock. They noted that the move was a valuation call.
Cavium Networks opened at 26.76 on Wednesday. Cavium Networks has a 52-week low of $24.20 and a 52-week high of $47.29. The company has a market cap of $1.322 billion and a price-to-earnings ratio of 26760.00.
The company last announced its quarterly results on Tuesday, May 1st. It reported $0.02 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.01 EPS by $0.01. The company’s quarterly revenue was down 17.1% on a year-over-year basis. Analysts expect that Cavium Networks will post $0.13 EPS next quarter.
Cavium, Inc., formerly Cavium Networks, Inc., designs, develops and markets semiconductor processors for intelligent and secure networks.