Needham & Company Maintains a 'Buy' on Mellanox Technologies (MLNX); Strong 4Q11 Results and 1Q12 Guide

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.

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