Needham & Company Maintains a 'Buy' on Mellanox Technologies (MLNX); 3Q11 Exceeds Slightly; Outlook for Continued Strong Growth into ’12
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Price: $124.89 --0%
Rating Summary:
17 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Mellanox Technologies (NASDAQ: MLNX) price target of $39.00.
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. ORCL Exadata and Exalogic), and in enterprise storage (i.e. Isilon/EMC/IBM XIV)."
"Tweaking 2012 estimates and instituting 2013 EPS of $1.66. Given its 20%+ revenue and EPS growth, strong margins and multiple avenues of growth in high profile markets, we maintain our $39 target based on 20x our C’13 EPS estimate + net cash ~$5.20."
For more ratings news on Mellanox Technologies click here and for the rating history of Mellanox Technologies click here.
Shares of Mellanox Technologies closed at $33.87 yesterday.
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. ORCL Exadata and Exalogic), and in enterprise storage (i.e. Isilon/EMC/IBM XIV)."
"Tweaking 2012 estimates and instituting 2013 EPS of $1.66. Given its 20%+ revenue and EPS growth, strong margins and multiple avenues of growth in high profile markets, we maintain our $39 target based on 20x our C’13 EPS estimate + net cash ~$5.20."
For more ratings news on Mellanox Technologies click here and for the rating history of Mellanox Technologies click here.
Shares of Mellanox Technologies closed at $33.87 yesterday.
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