Cavium price target lowered to $22 from $27 at Piper Jaffray

December 23, 2013

Piper Jaffray lowered its price target for Cavium shares to $22 and reiterates an Underweight ratting on the name on concerns the company does not have the scale to compete. Piper sees reduced market opportunity for Cavium's products with customers developing their own ASICs.