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Fly News Breaks for June 21, 2016
CAVM, QLGC
Jun 21, 2016 | 08:02 EDT
After Cavium's (CAVM) stock dropped by more than 10% following its acquisition of QLogic (QLGC), Argus says that the deal will diversify Cavium's revenue mix and give it the opportunity to obtain benefits from higher scale. Moreover, Argus says that the deal could enable Cavium to sell its ARM server architecture to a number of QLogic's partners in the future. The firm reiterates a $66 price target and Buy rating on Cavium.
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