Needham & Company Downgrades Aruba Networks (ARUN) to Hold on Merger News

Needham & Company downgraded Aruba Networks (NASDAQ: ARUN) from Buy to Hold.

Analyst Richard Valera commented, "We viewed the company's performance in being a technology leader in the enterprise Wi-Fi market and becoming a clear #2 player in the space to Cisco (#1 standalone vendor) as a tribute to the strength of the Aruba management team. That said, we suspect frustration with company's seeming inability to get credit for these accomplishments in its share price may have played a role in the decision to sell out. With ARUN shares currently trading virtually at the bid price and our belief no additional bidders are likely to emerge, we downgrade the shares to Hold from Buy."

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

Shares of Aruba Networks closed at $24.65 yesterday.

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