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Fly News Breaks for June 16, 2016
QLGC, CAVM
Jun 16, 2016 | 07:38 EDT
Canaccord downgraded Cavium (CAVM) to Hold from Buy following its announced acquisition of QLogic (QLGC). The firm said QLogic is potentially an important long-term technology acquisition but the deal raises nearer-term strategic growth and valuation concerns. Canaccord lowered its price target to $48 from $61 on Cavium shares.
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