Needham & Company Maintains a 'Buy' on Cavium Networks (CAVM); Get Aggressive on Dips - Trough Is In Sight

Needham & Company maintains a 'Buy' on Cavium Networks (NASDAQ: CAVM), price target raised from $33 to $36.

Analyst, N. Quinn Bolton, said, "Cavium reported 4Q11 results in-line with revised guidance excluding a tax benefit but guided 1Q12 below our and consensus estimates. While the 1Q12 trough is lower than previously modeled, we remain confident that Cavium will return to strong sequential growth in 2Q12 driven by a recovery in the run rate business and new product ramps. With a recovery in sight, we maintain our Buy rating and have increased our 12-month PT reflecting more positive assumptions in our DCF model. We would be aggressive buyers on dips."

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 $33.29 yesterday.

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