Market Overview

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

Related CAVM
Argus: 'Strong' End Markets, Cavium Acquisition Make Marvell Technology A Buy
Barclays: Marvell's Cavium Purchase Is The Right Deal At The Right Time

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Cavium (NASDAQ: CAVM), and slightly raised its price target from $27.00 to $28.00.

Deutsche Bank noted, “Inline results; pro-forma items help EPS beat; maintain Hold on risk/reward. Slightly better results for Cavium (Q3: $61.1M revs / $0.15 pro-forma EPS); but 30 cents in proforma adjustments and modest margin/mix improvement; lower tax rate driving EPS beat. The Q4 guide bracketed consensus on revenues ($65m - $67m / $0.16-$0.18). While we are constructive on order bookings, we remain cautious on volatility in OEM platform rollout timing and risk/reward at current levels – i.e. stock is pricing in an expectation for ‘beats and raises' in CY13 with little scope for a miss. Maintain our Hold rating and nudge our price target from $27 to $28 on updated forward estimates.”

Cavium closed on Tuesday at $29.90.

Latest Ratings for CAVM

Feb 2018Stifel NicolausMaintainsHoldHold
Nov 2017Loop CapitalDowngradesBuyHold
Nov 2017Morgan StanleyDowngradesOverweightEqual-Weight

View More Analyst Ratings for CAVM
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings


Related Articles (CAVM)

View Comments and Join the Discussion!