CLSA analyst Christopher Caso said Cavium (CAVM) represents the best M&A opportunity for Qualcomm (QCOM) to use the $12 net cash/share it has in its war chest. Caso said Cavium would allow Qualcomm quick entry into the networking/communications equipment markets with whats considered to be one of the industry's strongest product offerings and move Qualcomm into a leadership position in the ARM server initiative. The analyst estimates Cavium would add 15c of annual earning accretion, assuming a takeout price in the range of $55-$65 per share for Cavium and $50M in cost synergies.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here