Piper Jaffray Reiterates Underweight on Cavium Networks, Reduces PT to $28

Piper Jaffray reiterated its Underweight rating on Cavium CAVM. At the same time, the rating agency reduced its price target on the company's stock from $32.50 to $28. On Tuesday, CAVM lost 5.37% of its value to finish the day at $32.06. Its shares lost 9.89% of its value in today's pre-market trading to stand around $28.89.