Deutsche Bank Downgrades Cavium Networks (CAVM) to Hold; Cautious Near-Term After Negative Pre-Announcement
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Price: $34.09 -3.15%
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!
Deutsche Bank downgraded Cavium Networks (NASDAQ: CAVM) from Buy to Hold, price target lowered from $37 to $30.
Deutsche analyst says, "Cavium negatively pre-announced Q3 results today with revenues expected to be 4% to 6% lower vs. Q2, due to weaker than expected revenues from enterprise and software customers. In the near-term, we are concerned about demand trends and inventory draw-downs with enterprise and carrier customers. Longer term, we see the potential for growth acceleration in 2H CY12+, based on multiple new product cycle ramps."
For more ratings news on Cavium Networks click here and for the rating history of Cavium Networks click here.
Shares of Cavium Networks closed at $31.21 yesterday, with a 52 week range of $25.17-$48.30.
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Deutsche analyst says, "Cavium negatively pre-announced Q3 results today with revenues expected to be 4% to 6% lower vs. Q2, due to weaker than expected revenues from enterprise and software customers. In the near-term, we are concerned about demand trends and inventory draw-downs with enterprise and carrier customers. Longer term, we see the potential for growth acceleration in 2H CY12+, based on multiple new product cycle ramps."
For more ratings news on Cavium Networks click here and for the rating history of Cavium Networks click here.
Shares of Cavium Networks closed at $31.21 yesterday, with a 52 week range of $25.17-$48.30.
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