Needham & Company maintains a 'Buy' on Cavium Networks (CAVM); Cutting Numbers, But Looking For Recovery Next Qtr
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Price: $32.53 -1.57%
Rating Summary:
9 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
9 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
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.
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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.
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