Mellanox Tech (OTCBB:MLNX) Hits Lifetime High in Morning Trade

Northern, WI 7/19/12 (StreetBeat) – Mellanox Technologies Inc (OTCBB: MLNX) reached its lifetime high in trading today after announcing an impressive quarterly profit that beat analyst expectations. At least 10 brokerages raised their price targets on the company’s stock, with Harel Finance analyst Rami Rozen stating “this is the second quarter in a row that Mellanox breaks every growth record possible and raises the level of investors’ expectations to new heights.”

Mellanox designs chips for the InfiniBand data exchange standard that regulates the way servers and data systems communicate with each other. Its quarterly growth can be contributed to the strong storage, data, and cloud trends we are seeing today. "In InfiniBand (IB), Mellanox is a generation ahead of Intel Corp (INTC) and clearly benefiting from IB gaining share in various servers/storage platforms," Needham & Co wrote in a note. Its clientele include big names such as Hewlett-Packard Co (NYSE: HPQ) and IBM Corp (NYSE: IBM).

Shares of the company increased 36.73% this morning, trading up $24.38 at $90.76. The company has seen its stock more than double in the past year alone.

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Mellanox (Nasdaq: MLNX) InfiniBand Silicon Selected by Intel For New Server Platforms

Shawshank, VA 6/11/12 (StreetBeat) -- Mellanox® Technologies, Ltd. (Nasdaq:MLNX), a leading supplier of high-performance, end-to-end interconnect solutions for data center servers and storage systems, today announced that Mellanox’s ConnectX-3 FDR InfiniBand adapter silicon has been selected by Intel for use in their I/O Expansion Modules and half-width server boards – Intel® Server Board S2600WP and Intel® Server Board S2600JF – which optimize Intel’s server platforms for high performance applications through improved compute density, performance and cost efficiency.

Intel’s S2600JF and S2600WP server boards leverage Mellanox’s ConnectX-3 FDR 56Gb/s InfiniBand silicon, the world’s fastest InfiniBand solution, to deliver higher performance and application efficiency, and to reduce power consumption. Mellanox-based Intel I/O modules can be used to add single or dual-port FDR 56Gb/s InfiniBand connectivity to any server board.

“Intel’s deployment of Mellanox InfiniBand silicon is a testament to the high performance and efficiency of our solutions,” said David Barzilai, vice president of marketing at Mellanox Technologies. “Server and storage OEMs looking to roll out faster and more powerful systems will maximize their products’ potential with Mellanox InfiniBand solutions.”

About Mellanox

Mellanox Technologies is a leading supplier of end-to-end InfiniBand and Ethernet interconnect solutions and services for servers and storage. Mellanox interconnect solutions increase data center efficiency by providing the highest throughput and lowest latency, delivering data faster to applications and unlocking system performance capability. Mellanox offers a choice of fast interconnect products: adapters, switches, software and silicon that accelerate application runtime and maximize business results for a wide range of markets including high performance computing, enterprise data centers, Web 2.0, cloud, storage and financial services. More information is available at www.mellanox.com.

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Market Movers: HGSI +110% Rejects Offer from GSK; MLNX +30%

Tomahawk, WI 4/19/2012 (StreetBeat) -- Human Genome Sciences (HGSI) shares soared 110% to $14.36 on news that GlaxoSmithKline PLC (GSK) has offered $13 a share for the biotech group. Human Genome said that the bid is too low and that it has hired Goldman Sachs and Credit Suisse to help it evaluate other options, which could include a sale. Human Genome added that it has invited development partner Glaxo to participate in the process.

Mellanox Technologies (MLNX) shares shot up 25% to $54.20, after the tech company reported better-than-expected first-quarter earnings late Wednesday. The stock won buy recommendations from analysts at Mizuho and Wunderlich Securities.

Gilead Sciences (GILD) shares rallied 16% to $54.18. Gilead released promising clinical data for its hepatitis C drug candidate GS-7977, which it acquired through its recent $11 billion takeover of Pharmasset.

Cypress Semiconductor (CY) shares jumped 9% to $15.53 after it released first-quarter financial results before Thursday’s bell.

Qualcomm Inc. (QCOM) shares dropped nearly 6% to $63.30, making it the worst performer on the S&P 500 Thursday morning. The chipmaker released its quarterly earnings report late Wednesday.

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