Market Overview

UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Cavium

Related CAVM
Hear That? It's Tech Earnings Season Sneaking In
Pacific Crest Has Concerns About Chip Suppliers
Qualcomm shows off prototype ARM server CPU, partners with Xilinx/Mellanox (Seeking Alpha)

In a report published Friday, Deutsche Bank reiterated its Hold rating on Cavium (NASDAQ: CAVM), and raised its price target from $28.00 to $30.00.

Deutsche Bank noted, “Inline results and guide on revs; EPS beat; maintain Hold on risk/reward - Decent results: Q4: $66.4M revs / $0.20 pro-forma EPS; $89.5M in pro-forma charges and modest margin improvement driving EPS beat, with revs in line versus DB and consensus. The Q1 guide was inline on revenues ($68.5m - $70m / $0.17-$0.19); penny beat on EPS at the mid-point. While we are constructive on order bookings and the CY14 growth opportunities from Fusion, Neuron, etc; our Hold rating reflects our caution on valuation (~35x FY13 consensus est; +32% rev growth expectation), volatility in OEM platform rollout timing and potential for a miss to elevated 2H CY13 expectations. Our PT moves up, from $28 to $30 on updated forward estimates.”

Cavium closed on Thursday at $33.44.

Latest Ratings for CAVM

Aug 2015JefferiesMaintainsBuy
Jul 2015BarclaysMaintainsOverweight
Jul 2015Stifel NicolausMaintainsBuy

View More Analyst Ratings for CAVM
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings


Related Articles (CAVM)

Get Benzinga's Newsletters