Auriga Maintains Buy on Cavium Networks

Auriga Networks is out with its report today on Cavium Networks (NASDAQ: CAVM), maintaining Buy.

In its report, Auriga writes, "We maintain our Buy Rating and $48 price target for Cavium, as we have increased conviction in company's strong design win momentum in multi-core processors following industry checks and meeting with management. Based on our analysis, we expect CAVM to continue to outpace the industry and its nearest competitor, NetLogic (NASDAQ: NETL) in terms of revenue growth over the next 2-3 years."

Shares of CAVM closed Thursday at $36.67, up 3.30% from Wednesday's close.