Benchmark Maintains Hold Rating on Cavium Networks

According to Benchmark, Cavium Networks CAVM Hold rating is maintained. Benchmark said that Cavium lowered 4Q11 revenue and gross margin expectations. “We are lowering our 4Q11 revenue/EPS (non-GAAP) estimates from $61.6 million/$0.19 to $56.5 million/$0.13. We reiterate our Hold rating.” Cavium Networks closed yesterday at $28.48.