Needham & Company Maintains a 'Buy' on Mellanox Technologies (MLNX); Upbeat Investor Meetings

Needham & Company maintains a 'Buy' on Mellanox Technologies (NASDAQ: MLNX) price target raised from $42 to $43.

Analyst, Glenn Hanus, said, "On 3/12, 3/13, we hosted MLNX (CFO) meetings with investors in NYC. Overall, tone was quite positive re: current demand trends as well as progress on MLNX key growth initiatives. Perhaps most noteworthy was MLNX’s progress at top tier web 2.0 with multi-quarter 10GE NIC buildouts leveraging its RDMA over 10GE tech...MLNX emphasized its tech. (i.e., 10/40GE, 40/56G IB end-to-end solutions; RDMA; SERDES; VPI; bandwidth/latency leadership; support for apps/ O/Ss)...Tone of business solid in all core verticals (HPC, Financial, database, web2.0, cloud)...HPC (~55% of rev.) continues healthy ~ 10%+ growth. q/q rev growth in 2Q on track supported by Romley release benefitting HPC. GM% support from 56G IB upgrades (15% price premium vs. 40G) to HPC."

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 $36.76 yesterday.

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