Nomura Securities Starts Mellanox Technologies (MLNX) at Buy
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Price: $124.89 --0%
Rating Summary:
17 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Nomura Securities initiates coverage on Mellanox Technologies (NASDAQ: MLNX) with a Buy rating and a price target of $48.00.
Analyst Sanjay Chaurasia comments, "Mellanox is trading below its 3-year average valuation due to a decline in the high-performance computing (HPC) market, and concerns over a competitive threat from Intel. But we think that Mellanox remains well positioned in the low-latency server interconnect space and that the HPC market is turning. Also, the market may be overly concerned about the perceived threat from Intel. Based primarily on an uptick in HPC (80% of sales), and other areas of incremental growth, our CY14 and CY15 earnings estimates are 6% and 20% above consensus, respectively."
On estimates, CY14E EPS starts at $1.25; CY15E EPS starts at $2.15.
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 $37.39 yesterday.
Analyst Sanjay Chaurasia comments, "Mellanox is trading below its 3-year average valuation due to a decline in the high-performance computing (HPC) market, and concerns over a competitive threat from Intel. But we think that Mellanox remains well positioned in the low-latency server interconnect space and that the HPC market is turning. Also, the market may be overly concerned about the perceived threat from Intel. Based primarily on an uptick in HPC (80% of sales), and other areas of incremental growth, our CY14 and CY15 earnings estimates are 6% and 20% above consensus, respectively."
On estimates, CY14E EPS starts at $1.25; CY15E EPS starts at $2.15.
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 $37.39 yesterday.
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