UPDATE: UBS Downgrades Cavium Networks (CAVM) to Neutral; Changing Stance; Cutting Estimates
Tweet Send to a FriendGet Alerts CAVM Hot Sheet
Price: $33.97 -3.49%
Rating Summary:
9 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 12
Rating Summary:
9 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 12
Trade CAVM Now!
(Updated - May 18, 2012 1:09 PM EDT)
UBS downgraded Cavium Networks (NASDAQ: CAVM) from Buy to Neutral, price target lowered from $34 to $26.
Analyst, Steven Eliscu, said, "As echoes of the 2008-09 downturn may continue to negatively impact Cavium’s growth profile in 2H12, we modestly lower estimates from 3Q12 on concerns its design win ramps may be more muted and take longer to reach volume production. On lower growth, we also cut our longer-term view on operating margin expansion. On the revised outlook, we reduce our PT to $26. As we believe strong growth for 2H12 & 2013 are already in the share price, given macro tail risk, we see a more balanced risk-reward and downgrade shares." (FY12 EPS estimate cut from (0.84) to (0.88) and FY13 from (0.10) to (0.14))
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 $23.76 yesterday, with a 52 week range of $22.84-$46.92.
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
UBS downgraded Cavium Networks (NASDAQ: CAVM) from Buy to Neutral, price target lowered from $34 to $26.
Analyst, Steven Eliscu, said, "As echoes of the 2008-09 downturn may continue to negatively impact Cavium’s growth profile in 2H12, we modestly lower estimates from 3Q12 on concerns its design win ramps may be more muted and take longer to reach volume production. On lower growth, we also cut our longer-term view on operating margin expansion. On the revised outlook, we reduce our PT to $26. As we believe strong growth for 2H12 & 2013 are already in the share price, given macro tail risk, we see a more balanced risk-reward and downgrade shares." (FY12 EPS estimate cut from (0.84) to (0.88) and FY13 from (0.10) to (0.14))
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 $23.76 yesterday, with a 52 week range of $22.84-$46.92.
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
- UPDATE: Wedbush Downgrades XenoPort (XNPT) to Neutral
- UPDATE: Michael Kors (KORS) Under-Appreciated; Canaccord Genuity Starts at Buy
- Goldman Sachs Downgrades Thoratec (THOR) to Neutral
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, Analyst PT Change, DowngradesRelated Entities
UBS
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!
