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EZchip higher after announcing $20M buyback

Mar. 23, 2015 9:12 AM ETMellanox Technologies, Ltd. (MLNX) StockBy: Eric Jhonsa, SA News Editor
  • EZchip's (EZCH) buyback is good for repurchasing 3.3% of shares at current levels. It arrives after shares closed on Friday just $1.29 above a 52-week low of $18.19.
  • The network processor vendor had $185.8M in cash (equal to 31% of its market cap) to pay for buybacks with at the end of 2014, and no debt.
  • EZCH +1.5% premarket to $19.78.

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Mellanox Technologies, Ltd.