UBS Maintains a 'Neutral' on Cavium Networks (CAVM); Improved Model, But Fairly Valued

UBS maintains a 'Neutral' on Cavium Networks (NASDAQ: CAVM) price target of $30.00 (from $26.00).

Analyst, Steven Eliscu, said, "CAVM 2Q results for sales were in line while EPS was ahead on lower than expected opex. On raised gross and operating margin expectations, we raise EPS estimates and price target...In addition, we are encouraged by Cavium’s announcement to deliver optimized processors for the datacenter market based on 64-bit ARM, which aim to offer a material advantage vs general purpose (x86) processors on the combination of performance, power and cost."

UBS raises EPS estimates on expectations for increased operating leverage

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 $27.55 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
• Ferrovial SA (FER:SM) (FRRVF) Reiterated at Buy by UBS on Winning Bid For Tennessee Project