Cavium (CAVM) volatility flat into acquiring QLogic (QLGC) for $1.3B
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Brean Capital Cuts Price Target on Cavium (CAVM) Following Announced QLogic (QLGC) Acquisition
June 16, 2016 10:15 AM EDTBrean Capital maintained a Buy rating on Cavium Networks (NASDAQ: CAVM), and cut the price target to $60.00 (from $67.00), following the company's announced acquisition of QLogic (NASDAQ: QLGC). Strategically, Brean sees little to no overlap at the product level of both CAVM and QLGC, and believes that all of QLGC's products will contribute to top-line growth in 2016.
Analyst Mike Burton commented,... More
Needham & Company Reiterates Buy on Cavium (CAVM) Following Announced Acquisition of QLogic
June 16, 2016 8:52 AM EDTNeedham & Company maintained a Buy rating and $66.00 price target on Cavium Networks (NASDAQ: CAVM) following the company's announced acquisition of QLogic. The deal will be in a cash and stock transaction valued at $1.36B, funded with $220MM of balance sheet cash, $750MM of committed financing, and $400MM in new CAVM equity.... More
Wedbush Cuts Price Target on Cavium (CAVM) Following Announced QLGC Acquisition
June 16, 2016 7:23 AM EDTWedbush maintained an Outperform rating on Cavium Networks (NASDAQ: CAVM), and cut the price target to $51.00 (from $68.00), following the company's announced plans to acquire QLGC. CAVM expects the deal to close in Q3:16, be accretive to 2017 pro forma EPS by $0.60 to $0.70, add $400MM to... More
