Cavium (CAVM) is expected to post double-digit gains in earnings and revenue when it reports Q4 results after the close Wednesday. Analysts polled by Thomson Reuters expect earnings per share excluding items of 41 cents, up 32% from the year-earlier quarter. Revenue is forecast at $100 million, up 24%. The San Jose, Calif.-based chipmaker provides system-on-a-chip microprocessors that are used across a variety of markets and applications,
Chipmaker Cavium (CAVM) late Wednesday reported better-than-expected Q4 guidance and Q3 earnings despite a soft China market, sending its stock rising Thursday. Cavium CEO Syed Ali said in a conference call with analysts that Q4 is expected to be the company’s “first $100 million-plus revenue quarter.” The San Jose, Calif.-based company guided revenue for the current quarter at $99.8 million to $101.7 million, a 23%-25% increase from Q4 2013.
Cavium (CAVM) stock fell Thursday as the chipmaker announced an acquisition, though its Q2 earnings late Wednesday topped Wall Street forecasts. Cavium announced it would spend $90 million to acquire privately held semiconductor startup Xpliant. Cavium was down nearly 2% in afternoon trading in the stock market today, near 47, as U.S. stocks tumbled amid concerns about the strength of overseas economies and disappointing earnings from some major