Needham & Company maintains a 'Buy' on Cavium Networks (CAVM); Cutting Numbers, But Looking For Recovery Next Qtr
Tweet Send to a FriendGet Alerts CAVM Hot Sheet
Price: $35.43 +0.03%
Rating Summary:
9 Buy, 10 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
9 Buy, 10 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade CAVM Now!
Needham & Company maintains a 'Buy' on Cavium Networks (NASDAQ: CAVM) price target lowered from $35 to $33.
Analyst, N. Quinn Bolton, said, "Cavium reported 1Q12 results in-line with revised guidance but issued 2Q12 guidance modestly below our and consensus estimates. Though we have modestly reduced our forward estimates, we are encouraged that quarterly revenue growth will resume in 2Q12 and accelerate in 2H12 driven by a recovery in its core Enterprise/Service Provider business and the ramp of new products. With revenue poised to recover, we maintain our Buy rating but have decreased PT." (FY12 EPS estimate cut from $0.35 to $0.23 and FY13 from $1.05 to $0.90)
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 $29.75 yesterday, with a 52 week range of $24.20-$48.30.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, N. Quinn Bolton, said, "Cavium reported 1Q12 results in-line with revised guidance but issued 2Q12 guidance modestly below our and consensus estimates. Though we have modestly reduced our forward estimates, we are encouraged that quarterly revenue growth will resume in 2Q12 and accelerate in 2H12 driven by a recovery in its core Enterprise/Service Provider business and the ramp of new products. With revenue poised to recover, we maintain our Buy rating but have decreased PT." (FY12 EPS estimate cut from $0.35 to $0.23 and FY13 from $1.05 to $0.90)
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 $29.75 yesterday, with a 52 week range of $24.20-$48.30.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- Adobe (ADBE) Posts Positive Creative Cloud Subscriber Surprise in Q2 - Jefferies
- UPDATE: Bernstein Cuts BlackBerry (BBRY) to Underperform; Notes Weak BB10 Traction
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Needham & Company
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
