UPDATE: UBS Downgrades Cavium Networks (CAVM) to Neutral; Changing Stance; Cutting Estimates
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Price: $86.23 --0%
Rating Summary:
13 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
Rating Summary:
13 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
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(Updated - May 18, 2012 1:09 PM EDT)
UBS downgraded Cavium Networks (NASDAQ: CAVM) from Buy to Neutral, price target lowered from $34 to $26.
Analyst, Steven Eliscu, said, "As echoes of the 2008-09 downturn may continue to negatively impact Cavium’s growth profile in 2H12, we modestly lower estimates from 3Q12 on concerns its design win ramps may be more muted and take longer to reach volume production. On lower growth, we also cut our longer-term view on operating margin expansion. On the revised outlook, we reduce our PT to $26. As we believe strong growth for 2H12 & 2013 are already in the share price, given macro tail risk, we see a more balanced risk-reward and downgrade shares." (FY12 EPS estimate cut from (0.84) to (0.88) and FY13 from (0.10) to (0.14))
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 $23.76 yesterday.
UBS downgraded Cavium Networks (NASDAQ: CAVM) from Buy to Neutral, price target lowered from $34 to $26.
Analyst, Steven Eliscu, said, "As echoes of the 2008-09 downturn may continue to negatively impact Cavium’s growth profile in 2H12, we modestly lower estimates from 3Q12 on concerns its design win ramps may be more muted and take longer to reach volume production. On lower growth, we also cut our longer-term view on operating margin expansion. On the revised outlook, we reduce our PT to $26. As we believe strong growth for 2H12 & 2013 are already in the share price, given macro tail risk, we see a more balanced risk-reward and downgrade shares." (FY12 EPS estimate cut from (0.84) to (0.88) and FY13 from (0.10) to (0.14))
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 $23.76 yesterday.
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