Barclays Reiterates an 'Overweight' on Mellanox Technologies (MLNX); Opportunity Continues Growing

Barclays reiterates an 'Overweight' on Mellanox Technologies (NASDAQ: MLNX) price target raised from $42 to $45.

Analyst, Joseph Wolf, said, "We hosted meetings with CEO Eyal Waldman in London. Based on industry data highlighting MLNX's market share gains, traction with new products, and what we see as an accelerating opportunity."

Barclays also noted that MLNX's market share for 10GB/s adaptor units grew from 2.2% in Q4'10 to 24.6% in Q4'11 (vs. 20.7% for Intel (Nasdaq: INTC). Wolf feels that MLNX's competition with INTC and Broadcom (Nasdaq: BRCM) is significant.

Shares of MLNX are trading at $38.64, up $0.69 (+1.82%).

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 $37.95 yesterday.

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