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Fly News Breaks for July 30, 2015
CAVM
Jul 30, 2015 | 08:08 EDT
After Cavium reported in-line Q2 results but provided lower than expected Q3 revenue guidance, Oppenheimer says the company's guidance was impressive, given the more than 30% decline of its wireless revenues so far this year. The firm believes that the company's wireless business has bottomed, and Oppenheimer expects the company's DC/Cloud business to accelerate. The firm keeps a $72 price target and Outperform rating on the shares.
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