Needham & Company Downgrades Cavium Networks (CAVM) to Hold

Needham & Company downgraded Cavium Networks (NASDAQ: CAVM) from Buy to Hold.

Analyst N. Quinn Bolton commented, "With CAVM shares up 82% YTD in 2014, vs. 30.3% for the SOX Index and 15.1% for the NASDAQ Composite, and trading above our prior price target of $58, based on our DCF valuation model, we prefer to move to the sidelines to see if the market presents an opportunity to buy shares lower in C1H15. We downgrade shares to Hold from Buy and remove our 12-month PT."

For an analyst ratings summary and ratings history on Cavium Networks click here. For more ratings news on Cavium Networks click here.

Shares of Cavium Networks closed at $62.89 yesterday.

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