Cavium Networks (CAVM) PT Raised to $85 at Canaccord Genuity Following Announced Agreement with Marvell

Marvell (MRVL) PT Raised to $25 at Needham & Company

Needham & Company raised its price target on Marvell (NASDAQ: MRVL) to $25.00 (from $21.00) while maintaining a Buy rating.

Analyst Quinn Bolton comments "We see the deal as a strong fit for MRVL and a good value for CAVM shareholders."

Cavium Networks (CAVM) PT Raised to $90 at Needham & Company, 'We See Further Upside in CAVM Shares'

Needham & Company raised its price target on Cavium Networks (NASDAQ: CAVM) to $90.00 (from $78.00) while maintaining a Buy rating.

Macquarie Downgrades Cavium Networks (CAVM) to Neutral

Macquarie downgraded Cavium Networks (NASDAQ: CAVM) from Outperform to Neutral with a price target of $88.00 (from $80.00).

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 $84.02 yesterday.

Cavium Networks (CAVM) PT Raised to $90 at Needham & Company

Needham & Company raised its price target on Cavium Networks (NASDAQ: CAVM) to $90.00 (from $78.00) while maintaining a Buy rating after the company agreed to be acquired by Marvell in a cash and stock transaction valued at >$6bn.

Loop Capital Downgrades Cavium Networks (CAVM) to Hold Following Acquisition

Loop Capital downgraded Cavium Networks (NASDAQ: CAVM) from Buy to Hold with a price target of $84.00 (from $81.00).

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 $84.02 yesterday.

Morgan Stanley Downgrades Cavium Networks (CAVM) to Equalweight Following Acquisition

Morgan Stanley downgraded Cavium Networks (NASDAQ: CAVM) from Overweight to Equalweight with a price target of $85.00 (from $77.00).

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 $84.02 yesterday.

Barclays Upgrades Marvell (MRVL) to Overweight

Barclays upgraded Marvell (NASDAQ: MRVL) from Equalweight to Overweight with a price target of $30.00 (from $20.00).

Analyst Blayne Curtis believes the combination with CAVM creates a powerful force which can now drive earnings growth and multiple expansion.

For an analyst ratings... More

Jefferies Upgrades Marvell (MRVL) to Buy

Jefferies upgraded Marvell (NASDAQ: MRVL) from Hold to Buy with a price target of $27.00 (from $18.50).

Analyst Mark Lipacis believes the combination with CAVM generates a product portfolio with synergies and believes the deal creates better scale. The analyst believes there is a high... More

Jefferies Downgrades Cavium Networks (CAVM) to Hold Following The Acquisition

Jefferies downgraded Cavium Networks (NASDAQ: CAVM) from Buy to Hold with a price target of $94.00 (from $79.00).

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 $84.02 yesterday.

UPDATE: Starboard Takes 10.7% Stake in Mellanox Technologies (MLNX); Marvell Technology (MRVL) Had Approached but Was Rebuffed - WSJ

(Updated - November 20, 2017 5:19 PM EST)

Hedge Fund Starboard Value built a 10.7% sake in Mellanox Technologies (Nasdaq: MLNX), according the Wall Street Journal.

Starboard is also on the board at Marvell Technology (Nasdaq: MRVL), the company that... More

Marvell (MRVL) PT Raised to $27 at Susquehanna Amid Cavium Deal

Susquehanna analyst Christopher Rolland raised his price target on Marvell (NASDAQ: MRVL) to $27.00 (from $25.00) while maintaining a Positive rating after the company agreed to acquire Cavium Networks (NASDAQ: CAVM).

Rolland reiterated his top pick view on MRVL, calling it now a 'bona fide' growth company.

Susquehanna Downgrades Cavium Networks (CAVM) to Neutral Pending Marvell Acqusition

Susquehanna downgraded Cavium Networks (NASDAQ: CAVM) from Positive to Neutral with a price target of $85.00 (from $83.00) after the company agreed to be acquired by Marvell.

For an analyst ratings summary and ratings history on Cavium Networks... More

UPDATE: BofA/Merrill Lynch Double Upgrades Marvell (MRVL) to Buy

(Updated - November 20, 2017 10:54 AM EST)

(updated to add analyst comment)

BofA/Merrill Lynch upgraded Marvell (NASDAQ: MRVL) from Underperform to Buy with a price target of $26.00 (from $15.00).

Analyst Vivek Arya believes the deal for Cavium (NASDAQ:... More

Pre-Open Movers 11/20: (CZZ) (CAVM) (ZIOP) Higher; (BITA) (CAH) (MNST) Lower (more...)

Today's Pre-Open Movers

Cosan Limited (NYSE: CZZ) 10.2% HIGHER; announced today that it has commenced a tender offer to purchase up to U.S.$200,000,000 of its Class A common shares, or the shares, at (i) prices specified by the tendering shareholders of not greater than U.S.$9.65 nor less than U.S.$9.23 per share or (ii) at the purchase price determined in accordance with the tender offer. The NYSE closing price of the shares on November 17, 2017, the last full trading day before the commencement of the tender offer, was... More

Cavium (CAVM) weekly volatility flat into Marvell (MRVL) acquiring in a cash and stock deal valued at $80 a share

Cavium (NASDAQ: CAVM) December and January option implied volatility of 34 compares to its 52-week range of 27 to 48 into Marvell (MRVL) acquiring all outstanding shares of Cavium common stock in exchange for consideration of $40 per share in cash and 2.1757 Marvell common shares for each Cavium share.

Wall Street ticks up, lifted by Verizon, chipmakers

By Rodrigo Campos

NEW YORK (Reuters) - U.S. stocks rose on Monday, with Verizon boosting the telecoms sector after the stock got an upgrade, while a deal in semiconductors lifted high-performing tech shares.

With no major earnings or economic data scheduled this week, trading volumes were thin and expected to get even quieter leading up to the Thanksgiving holiday on Thursday and an early market close on Friday.

Overall trading volume was the lightest in a month.

Verizon (NYSE: VZ) boosted the telecom services sector of the... More

Marvell Technology (MRVL) to Acquire Cavium (CAVM)

Marvell Technology Group Ltd. (NASDAQ: MRVL) and Cavium, Inc. (NASDAQ: CAVM) today announced a definitive agreement, unanimously approved by the boards of directors of both companies, under which Marvell will acquire all outstanding shares of Cavium common stock in exchange for consideration of $40.00 per share in cash and 2.1757 Marvell common shares for each Cavium share. Upon completion of the transaction, Marvell will become a leader in infrastructure solutions with approximately $3.4 billion1 in annual revenue.

The transaction combines Marvell's portfolio of leading HDD and SSD storage controllers, networking solutions and... More

Marvell Technology (MRVL) to Pay Half Stock, Half Cash for Cavium (CAVM) - WSJ

Marvell Technology (NASDAQ: MRVL) will acquire Cavium (NASDAQ: CAVM) for more than $80 per share, valuing the chipmaker at $6 billion, according to the Wall Street Journal. Marvell will pay half stock and half cash.

The WSJ... More

Marvell Technology to buy rival chipmaker Cavium for $6 billion

By Sonam Rai and Laharee Chatterjee

(Reuters) - Chipmaker Marvell Technology Group Ltd (NASDAQ: MRVL) said on Monday it would buy smaller rival Cavium Inc (NASDAQ: CAVM) for about $6 billion, as it seeks to expand its wireless connectivity business in a rapidly consolidating semiconductor industry.

Shares of Marvell were down 0.8 percent to $20.14, while Cavium was up 7 percent at $81.14 in early trading.

Chief Executive Matthew Murphy, who took the top job a year ago, has been focusing on Marvell's networking business to counteract declining demand for its... More