Needham & Company Maintains a 'Buy' on Mellanox Technologies (MLNX); Strong 4Q11 Results and 1Q12 Guide
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Price: $57.13 -1.31%
Rating Summary:
8 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Rating Summary:
8 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Trade MLNX Now!
Needham & Company maintains a 'Buy' on Mellanox Technologies (NASDAQ: MLNX) price target raised from $39 to $42.
Needham analyst says, "MLNX dominates InfiniBand (IB) based interconnect which has been a healthy niche market (~$300M, growing 8-10%), largely HPC oriented. Building on this solid base, MLNX has been broadening its solution portfolio (i.e. 10/40G Ethernet, acquiring Voltaire), expanding its TAM ($4.8B) and demonstrating traction in Enterprise verticals (FS, web2.0, database, cloud), embedded environments (i.e. Oracle (Nasdaq: ORCL) Exadata and Exalogic), and in enterprise storage (i.e. Isilon/EMC (NYSE: EMC) /IBM (NYSE: IBM) XIV)."
Needham raises FY12 EPS estimate from $1.43 to $1.48.
For an analyst ratings summary and ratings history on Mellanox Technologies click here. For more ratings news on Mellanox Technologies click here.
Shares of Mellanox Technologies closed at $31.16 yesterday, with a 52 week range of $23.67-$37.43.
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Needham analyst says, "MLNX dominates InfiniBand (IB) based interconnect which has been a healthy niche market (~$300M, growing 8-10%), largely HPC oriented. Building on this solid base, MLNX has been broadening its solution portfolio (i.e. 10/40G Ethernet, acquiring Voltaire), expanding its TAM ($4.8B) and demonstrating traction in Enterprise verticals (FS, web2.0, database, cloud), embedded environments (i.e. Oracle (Nasdaq: ORCL) Exadata and Exalogic), and in enterprise storage (i.e. Isilon/EMC (NYSE: EMC) /IBM (NYSE: IBM) XIV)."
Needham raises FY12 EPS estimate from $1.43 to $1.48.
For an analyst ratings summary and ratings history on Mellanox Technologies click here. For more ratings news on Mellanox Technologies click here.
Shares of Mellanox Technologies closed at $31.16 yesterday, with a 52 week range of $23.67-$37.43.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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Analyst CommentsRelated Entities
Needham & Company, Voltaire/Mellanox Technologies
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