Auriga Maintains Buy on Cavium Networks

Auriga Networks is out with its report today on Cavium Networks CAVM, maintaining Buy. In its report, Auriga writes, "We maintain our Buy Rating and $48 price target for Cavium, as we have increased conviction in company's strong design win momentum in multi-core processors following industry checks and meeting with management. Based on our analysis, we expect CAVM to continue to outpace the industry and its nearest competitor, NetLogic NETL in terms of revenue growth over the next 2-3 years." Shares of CAVM closed Thursday at $36.67, up 3.30% from Wednesday's close.