Canaccord Genuity Downgrades Cavium Networks (CAVM) to Hold

Brean Capital Cuts Price Target on Cavium (CAVM) Following Announced QLogic (QLGC) Acquisition

Brean 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

Needham & 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

Wedbush 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

Pacific Crest Downgrades Cavium Networks (CAVM) to Sector Weight

Pacific Crest downgraded Cavium Networks (NASDAQ: CAVM) from Overweight to Sector Weight. Analyst John Vinh said its acquisition of QLogic Corp (NASDAQ: QLGC) creates uncertainty.

"We are downgrading CAVM to Sector Weight given increased execution... More

UPDATE: Oppenheimer Downgrades Cavium Networks (CAVM) to Perform

(Updated - June 16, 2016 9:54 AM EDT)

Oppenheimer downgraded Cavium Networks (NASDAQ: CAVM) from Outperform to Perform and removed its price target (prior $62.00). The change follows the acquisition of QLogic.

"We struggle to see the strategic rationale and see it as... More

Cavium (CAVM) to Acquire QLogic (QLGC) for $15.50/Share

Cavium, Inc. (Nasdaq: CAVM) and QLogic Corp. (Nasdaq: QLGC) announced that they have entered into a definitive agreement for Cavium to acquire all of the outstanding QLogic common stock for approximately $15.50 per share, comprised of $11.00 per share in cash and 0.098 of a share of Cavium common stock for each share of QLogic common stock (valued at approximately $4.50 based on the volume weighted average Cavium trading price for the three trading days beginning June 10, 2016), through an exchange offer. The transaction values QLogic at approximately $1.36 billion in equity value,... More

QLogic Corp (QLGC), Cavium (CAVM) Halted, News Pending

QLogic Corp (NASDAQ: QLGC), Cavium (NASDAQ: CAVM) News Pending