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Fly News Breaks for June 16, 2016
QLGC, CAVM
Jun 16, 2016 | 07:08 EDT
Pacific Crest analyst John Vinh downgraded Cavium (CAVM) to Sector Weight saying the acquisition of QLogic (QLGC) "creates more uncertainty than answers." With multiple new products coming, it remains unclear why the acquisition was necessary, Vinh tells investors in a research note. He sees fair value for Cavium shares in the $40-$45 range. Oppenheimer this morning also downgraded Cavium.
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