Wedbush Cuts Price Target on Cavium (CAVM) Following Announced QLGC Acquisition

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Go back to Wedbush Cuts Price Target on Cavium (CAVM) Following Announced QLGC Acquisition

Cavium to Acquire QLogic

June 15, 2016 4:01 PM EDT

SAN JOSE, Calif. and ALISO VIEJO, Calif., June 15, 2016 /PRNewswire/ -- Cavium, Inc. (NASDAQ: CAVM) ("Cavium"), a leading provider of semiconductor products that enable intelligent processing for enterprise, data center, cloud, wired and wireless networking, and QLogic Corp. (NASDAQ: QLGC) ("QLogic"), a leading supplier of high performance networking infrastructure solutions, today 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... More

Cavium to Acquire QLogic

June 15, 2016 4:00 PM EDT

Opportunity to drive significant growth at scale in data center and storage markets Substantial customer and revenue diversification Transaction enterprise value of $1 billion $45 million of identified annualized cost synergies to be realized by the end of 2017 $0.60 to $0.70 accretive to Caviums CY 2017 non-GAAP EPS

SAN JOSE, Calif. & ALISO VIEJO, Calif.--(BUSINESS WIRE)-- Cavium, Inc. (NASDAQ: CAVM) (Cavium), a leading provider of semiconductor products that enable intelligent processing for enterprise,... More