UBS Maintains a 'Neutral' on Cavium Networks (CAVM); Raise PT on Faster Longer-term Growth
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Price: $86.23 --0%
Rating Summary:
12 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Neutral' on Cavium Networks (NASDAQ: CAVM), raises PT from $42.50 to $47.
UBS analyst says, "As Cavium provided updates to its strategy and execution, we raise our mid-to-longer term view given it: 1) continues to execute new products, 2) should continue to integrate advanced features such as baseband processing, 3) is more aggressively moving to the most advanced process node (28nm)."
"On the revised outlook including the lowered tax rate for 2011, we adjust our 2Q11 and 2011 sales/non-GAAP EPS estimates to $72.0m/$0.32 and $304.1m/$1.43. We raise our 2012 sales/non-GAAP EPS estimates by 1% to $397m/$1.71 and 2013 estimates by 3%/6% to $485m/$2.30."
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 $47.20 yesterday.
UBS analyst says, "As Cavium provided updates to its strategy and execution, we raise our mid-to-longer term view given it: 1) continues to execute new products, 2) should continue to integrate advanced features such as baseband processing, 3) is more aggressively moving to the most advanced process node (28nm)."
"On the revised outlook including the lowered tax rate for 2011, we adjust our 2Q11 and 2011 sales/non-GAAP EPS estimates to $72.0m/$0.32 and $304.1m/$1.43. We raise our 2012 sales/non-GAAP EPS estimates by 1% to $397m/$1.71 and 2013 estimates by 3%/6% to $485m/$2.30."
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 $47.20 yesterday.
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