jmsbravo
12年前
Mellanox(R) Technologies, Ltd. (NASDAQ: MLNX) (TASE: MLNX), a leading supplier of high-performance, end-to-end interconnect solutions for data center servers and storage systems, today announced the availability of the Mellanox Virtual Modular Switch(TM) (VMS) solution, a world leading Ethernet data center aggregation switch infrastructure. Mellanox VMS is a high-port density, flexible and scalable data center aggregation switching solution. Mellanox VMS provides up to 720 ports of 40 gigabits per second with latency lower than 2 microseconds while reducing capital expenses by up to 85 percent and power consumption by up to 90 percent. Moreover, Mellanox VMS offers the best-in-class resiliency, maintaining up to over 90 percent of the aggregation bandwidth at the time of a switch failure, compared to traditional chassis-based switches.
StockConsultant_com
12年前
MLNX gap entry above 82.5
CURRENT PRICE 81.73, just above support, 78.96 ± 2.21, type single, strength 2
RESISTANCE ABOVE +10.5% at 90.32 ± 2.53, type single, strength 8
+24.9% at 102.1 ± 2.86, type triple+, strength 10
+37% at 112 ± 3.14, type triple, strength 9
+44.9% at 118.4 ± 3.32, type single, strength 5
source http://www.stockconsultant.com
ciciagt
12年前
New subsidiary :
http://www.mellanoxfederal.com/
Mellanox® Technologies, Ltd. (NASDAQ: MLNX) (TASE: MLNX), a leading supplier of high-performance, end-to-end interconnect solutions for data center servers and storage systems, today announced the creation of Mellanox Federal Systems, a wholly owned subsidiary of Mellanox Technologies. Mellanox Federal Systems will be responsible for driving business development for all federal government agencies and the federal integrator market.
Dale D’Alessio has been named CEO of Mellanox Federal Systems, which will be based in Vienna, Virginia. Mr. D’Alessio was previously co-founder and managing member of YottaStor, a professional service and product company specializing in big data storage solutions for the Intelligence and U.S. Department of Defense markets.
Herscu1
12年前
Apologies if this has been posted before but interesting article from a month ago on why Mellanox Technologies is overvalued. I'm not long or short the stock but if you own the stock worth a read. I think company guidance today is clearly telling investors that growth at the previous rate won't continue. As an investor you have to ask yourself if the share price can justify the large multiple it trades at? As the stock looks down another 18 to 20% after hours it doesn't appear it can.
9.11.12
Posted by KerrisdaleCap at 7:09 am
We believe that shares of Mellanox Technologies, Ltd. (MLNX) are highly overvalued, not only because it is a semiconductor company operating in a small and technologically fast-changing niche trading at an absurdly high valuation, but, equally as important, the Intel CPU chip upgrade cycle which fueled its past few quarters of atypical growth is about to plateau, and then sharply decline.
We are short and own put options on shares of MLNX.
Investors apparently misunderstand the cyclical nature of Mellanox’s 56 GB/s “FDR” Infiniband business and have mistakenly extrapolated the recent uptick in Q1/Q2 growth into a long-term trend. As the upgrade cycle for Intel’s Romley CPU plays out, Mellanox’s FDR revenue could plateau in Q4 2012 and sharply reverse in 2013. When this occurs, the 50%+ quarter-over-quarter growth that investors have come to expect will be a thing of the past. As Mellanox’s lead product (54% of Q2 2012 revenue), FDR has been tailored specially for the Romley CPU system, meaning that FDR revenues probably tie very closely to Romley CPU shipments. Using this assumption and FDR revenue estimates, we estimate that quarter-on-quarter growth of the base business, excluding FDR-related revenue, was only 0.7% in Q2 2012. Non-existent growth in the core business hardly justifies the 50% share price bounce (from $65 to $95) that Mellanox experienced after its second quarter earnings release, let alone the further increase to $110 in the past two months.
Unfortunately for most investors, the cyclical nature of the tech hardware business is rarely modeled by analysts, who prefer straight-line forecasts and sky-high, AMZN-like valuation multiples for whichever business is in vogue at the time. But while they lavish Mellanox with unbounded praise in their qualitative analysis, most analysts have actually modeled a material growth slowdown in 2013. As such, we believe that investors in MLNX are currently playing with fire and would be wise to avoid shares at the current astronomical valuation level.
As for the notion that MLNX may be acquired, the idea of an acquisition is preposterous at prices anywhere close to the current trading levels. A scan of the tech landscape tells us that of the few strategic buyers that might exist, most couldn’t afford MLNX’s current valuation (such as ELX, QLGC, HPQ). Those that can would prefer higher-margin branded products and services (ORCL and IBM), or have already made their Infiniband investments (INTC). Others would likely allocate internal resources to create a next-generation rival product instead of overpaying for a risky acquisition (BCOM). Since Infiniband remains a small niche market confined to high-end supercomputing, no rational buyer would consider acquiring MLNX for a $5+ billion valuation, in our opinion.
Notwithstanding its current share price bubble, we believe that Mellanox has built itself a niche business and achieved a big win through the Romley upgrade cycle. But high-speed computing is a cutthroat space and Mellanox still faces competitive risks from all sides (e.g. Intel’s Infiniband and Cray interconnect, 40GB/s low-latency Ethernet, etc.). Since high-tech hardware is such a cyclical, competitive space, almost all peer companies trade below 10x Forward EV/EBITDA and many trade below 5x. Mellanox’s 28x FY12E EBITDA is in another stratosphere, and as frequently occurs in the tech space, we expect shares to sharply snap back at the slightest earnings waver. Make no mistake about it: this is a momentum-driven growth stock and its shares can only levitate at these prices while the company delivers spectacular growth numbers. Even Mellanox can only defy gravity for so long.
THE ROMLEY UPGRADE CYCLE HAS DRIVEN SHORT-TERM GROWTH
Mellanox provides premium Infiniband chips used in high-performance computer (“HPC”) clusters. Infiniband is a hardware interconnection tool that allows stacks of databases, servers, and computers to ‘talk’ to one another. While most commercial servers are perfectly content with 1G/s or 10G/s Ethernet interconnection, a small niche of specialized HPC clusters prefer the higher speed and low latency of Infiniband, of which MLNX is the leading supplier, and are willing to pay the higher prices associated with it. In particular, Intel’s Romley CPU core, which was released in 1Q 2012, included Mellanox’s products as among its preferred interconnection tools; therefore, as has been the case over the last few quarters, each time that an HPC cluster upgrades to the Romley core, many will purchase the FDR interconnectors as well.
ciciagt
12年前
They beat for the quarter but guidance for 4th Q not as strong as the street expected.
This selling sure seems way overdone. I didn't have a chance to listen to the cc, but will look for the transcript to post on Seeking Alpha site.
For Q3, the company, which is focused on products that use a technology called Infiniband, reported revenue of $156.5 million and non-GAAP profits of $1.37 a share, well ahead of the Street consensus at $153.1 million and $1.13 a share.
However, on a post-report call with the Street, the company projected revenue for Q4 of $145 million to $150 million, below the Street at $157 million.
http://www.forbes.com/sites/ericsavitz/2012/10/17/mellanox-swoons-q3-tops-estimates-guide-disappoints/?partner=yahootix
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Also sharply lower were shares of Mellanox Technologies Ltd. MLNX -6.45% as they logged a drop of 22% to $77. The company, which produces technology for transfer of data between servers and storage systems, said on an evening conference call that it foresees fourth-quarter sales of $145 million to $150 million. The consensus currently calls for revenue of $156.8 million.
Mellanox said its quarterly revenue forecast puts annual sales at $524 million to $529 million, which misses Wall Street’s projection of $532 million.
http://www.marketwatch.com/story/ebay-american-express-results-due-after-hours-2012-10-17?siteid=yhoof2
---------------------------------------------------------
also, from a post the other day:
"High expectations are already baked into analysts' estimates, so it reduces the potential for a massive surprise," said Wunderlich Securities analyst Brian Freed.
"It's still a rockin' business," he added.
But the raised bar puts more pressure on Mellanox to deliver — or overdeliver.
"They have to meet or exceed consensus estimates or the stock is going to get crushed," Freed said.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80499437
ciciagt
12年前
Mellanox: Can It Pull Off Another Big Beat In Q3?
Read More At IBD: http://news.investors.com/business-the-new-america/101212-629135-mlnx-rides-big-data-web-2-0-cloud-computing.htm#ixzz298YB6Q2c
Analysts say business fundamentals are still strong and expect another good quarter.
"The story remains intact," said ThinkEquity analyst Rajesh Ghai, who says the firm is seeing new demand from companies involved in storage and Web 2.0 markets.
Upside Surprise
But since analysts have raised estimates to reflect Mellanox's outsize performance, the likelihood of a big upside surprise is less likely this time.
"High expectations are already baked into analysts' estimates, so it reduces the potential for a massive surprise," said Wunderlich Securities analyst Brian Freed.
"It's still a rockin' business," he added.
But the raised bar puts more pressure on Mellanox to deliver — or overdeliver.
"They have to meet or exceed consensus estimates or the stock is going to get crushed," Freed said.
ciciagt
12年前
Mellanox® Technologies, Ltd. (MLNX) (MLNX.TA), a leading supplier of high-performance, end-to-end interconnect solutions for data center servers and storage systems, today announced that it will release financial results for its third quarter 2012 after the close of market on Wednesday, October 17, 2012..
http://finance.yahoo.com/news/mellanox-technologies-ltd-schedules-release-123000537.html
ciciagt
12年前
Mellanox Technologies Ltd. (MLNX), the Israeli maker of technology used to transfer and store data, increased 2.2 percent to $116.8. Its shares in Tel Aviv advanced 1.5 percent to 463.9 shekels, or $115.62.
The company will be added to the MSCI Standard Index and removed from the MSCI Small Cap Index at the end of the month, a move that may result in net inflows of $120 million, according to a report from Clal Finance dated yesterday.
To contact the reporter on this story: Sridhar Natarajan in New York at snatarajan15@bloomberg.net
http://www.bloomberg.com/news/2012-08-27/tower-hits-three-year-low-on-bond-conversion-israel-overnight.html?cmpid=yhoo
ciciagt
13年前
Mellanox (MLNX) Technologies' CEO Discusses Q2 2012 Results - Earnings Call Transcript
http://seekingalpha.com/article/731101-mellanox-technologies-ceo-discusses-q2-2012-results-earnings-call-transcript
great nuggets all through this call:
"Hi, Glenn Hanus at Needham. Can you talk a little bit about -- I mean you've raised the third quarter here very significantly, you know, the drivers of that? Are there a number of, you know, you had I think you said five to seven significant HPC deals for the June quarter, are there a whole group coming here in the September quarter, is that the primary driver the upside? And then should we -- how far are we in this HPC upgrade cycle to 56 as we go -- as we think about our models for December then, the December quarter, should we think in terms of there having been a lot of one-time business in the September quarter or should we think about growth again sequentially in the December quarter? Thank you.
Eyal Waldman
Sure. So we can't give you any guidance for the December quarter. Regarding Q3, yes, there are a number of large deals as we had in Q1 and in Q2, we also have a number in Q3, which we’re happy to see continuous flow for those deals with our InfiniBand interconnect. And the HPC market continues to deploy. It's not like there's a certain amount of super-computers being built and most of them are being built in the first half. It's like every -- we already are working on and know of super-computers that will be built in 2014, 2015 and 2016 that people are working out with us. And so there's a continuous flow of super-computers to be built in the next coming two or three years that we already are aware of."
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