Mellanox Technologies, Ltd.
 (MLNX)

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  • Jul. 23, 2014, 5:35 PM
  • Jul. 22, 2014, 12:36 PM
    • Re/code states IBM's SoftLayer cloud infrastructure/Web hosting unit is adding support for InfiniBand server interconnects. Mellanox (MLNX +2.4%), which supplies InfiniBand switches and adapter cards to IBM's server unit, has caught a bid in response.
    • A SoftLayer exec notes InfiniBand, used by 222 of the world's 500 most powerful supercomputers, could appeal to clients who need to move huge data volumes at high speeds - for example, ones running analytics software or processing large amounts of scientific data. "Were seeing a lot of interest in moving more complex workloads to our cloud, and our customers want more powerful infrastructure."
    • With few cloud infrastructure providers currently supporting InfiniBand, IBM's move could spark broader adoption. The news comes ahead of Mellanox's Thursday Q2 report.
    | Jul. 22, 2014, 12:36 PM
  • Jul. 18, 2014, 4:02 AM
    • Israeli soldiers and tanks have entered Gaza after 10 days of bombardments from the air failed to stop the rocket attacks from the Strip and cease-fire efforts collapsed.
    • The campaign is aimed at "destroying the terror tunnels dug from the Gaza Strip into Israeli territory," says PM Benjamin Netanyahu. "The goal is restoring quiet to the citizens of Israel for an extended period, with significant damage to the infrastructure of Hamas and other terrorist organizations."
    • Shares of Israeli companies listed in the U.S. tumbled to their lowest level in a week, led by Mellanox Technologies (NASDAQ:MLNX) which closed down 3.5%.
    • ETFs: EIS, ISRA
    | Jul. 18, 2014, 4:02 AM
  • Jul. 16, 2014, 9:20 AM
    • The 19% Y/Y Q2 sales growth posted by Intel's server CPU reporting group (an improvement from Q1's 11%) is sitting well with Mellanox (NASDAQ:MLNX) investors.
    • So are Intel's CC remarks (transcript): The company said its server CPU unit witnessed "a richer product mix and ASP mix" (aided by the recent launch of new high-end Xeon E7 CPUs), that its HPC-related sales grew more than 15%, and that its Grantley server CPU platform (22nm Xeon E5) will launch later in Q3.
    • Jefferies has upgraded Mellanox to Buy, and hiked its PT by $13 to $50. The firm expects a strong Grantley launch.
    • Mellanox derives roughly half its revenue from HPC clients, and has previously said many HPC buyers are waiting for Grantley to arrive. Its Q2 results are due on July 24.
    | Jul. 16, 2014, 9:20 AM
  • Jun. 24, 2014, 10:19 AM
    • Integrity Project, an Israeli firm founded in '06, provides embedded software outsourcing services in areas including hardware development, connectivity, and cryptography.
    • Mellanox (MLNX -0.3%) says it's acquiring Integrity to "enhance [its] software teams" for platforms such as CloudX, which enables the building of cloud infrastructures using commodity server/storage hardware, open-source software (OpenStack-based), and Mellanox's interconnects.
    • Last year, Mellanox bought 100G optical component vendor IPtronics and silicon photonics interconnect provider Kotura, as it tries to meet a looming threat from Intel.
    | Jun. 24, 2014, 10:19 AM
  • Jun. 17, 2014, 6:58 PM
    • The consolidation wave that has hit the semi industry could soon yield tax inversion deals for foreign firms similar to deals seen in the healthcare industry, says FBR's Christopher Rolland.
    • Inversion deals allow U.S. companies buying foreign firms to see lower tax rates if less than 80% of the equity in the new company is owned by legacy U.S. shareholders, and the post-merger company has substantial foreign ops.
    • Rolland thinks ARM (ARMH), NXP (NXPI), Mellanox (MLNX), and Taiwan's MediaTek could be among the foreign companies targeted by U.S. chipmakers. Worth noting: Mellanox sells more than just chips, and ARM's business model depends on the company maintaining a neutral status within the industry.
    • Meanwhile, Nomura's Romit Shah names 15 potential M&A candidates, and divides them into 3 groups: "Sub-scale companies" with high margins and strong IP; "strategic companies" with compelling product lines; and "undervalued companies."
    • Shah's "sub-scale companies:" IDTI, ISIL, MTSI, MCRL, SMTC, SLAB.
    • "Strategic companies:" ALTR, AMCC, ATML, CAVM, MPWR, BRCM ($22.5B market cap could make it tough to digest).
    • "Undervalued companies:" DIOD, IRF, MSCC.
    | Jun. 17, 2014, 6:58 PM | 3 Comments
  • May 1, 2014, 11:14 AM
    • On top of missing FQ3 sales estimates (while hitting EPS forecasts), Emulex (ELX -24.7%) is guiding for FQ4 revenue of $94M-$100M and EPS of $0.00-$0.05, well below a consensus of $115.7M and $0.18.
    • Storage adapter card/controller/switch archrival QLogic (QLGC -6.1%), which reports after the close, is off in sympathy, as is storage switch leader Brocade (BRCD -2.4%). Mellanox (MLNX -1.7%), which competes against Emulex in the 10G Ethernet adapter space, is also declining; its shares already tumbled last week due to a Q1 miss and soft guidance.
    • On its CC (transcript), Emulex mentioned its network connectivity product sales (71% of revenue, dominated by Fibre Channel storage offerings) fell 9% Y/Y, as Fibre Channel weakness more than offset 10G Ethernet growth. The FC issues are blamed on UNIX server weakness (sales have been in freefall for a while) and "specific issues" with an x86 server OEM (likely IBM).
    • Moreover, in remarks with clear implications for QLogic/Brocade, Emulex says it now expects a "higher rate of secular decline in the Fibre Channel business than previously anticipated." Its own FC sales are now expected to fall at a high-single to low-double digit Y/Y clip vs. prior guidance for a mid-single digit drop.
    • Also, Emulex's network visibility product sales (Endace, 6% of revenue) came in below expectations, and its legacy storage connectivity/other business (23% of revenue) is expected to fall 10%-15% in FY14 and perhaps over 30% in FY15.
    | May 1, 2014, 11:14 AM
  • Apr. 25, 2014, 12:47 PM
    | Apr. 25, 2014, 12:47 PM
  • Apr. 24, 2014, 4:10 PM
    • Mellanox Technologies, Ltd. (MLNX): Q1 EPS of $0.10 misses by $0.02.
    • Revenue of $98.7M (+18.8% Y/Y) misses by $4.18M.
    | Apr. 24, 2014, 4:10 PM
  • Apr. 24, 2014, 12:10 AM
  • Apr. 23, 2014, 5:35 PM
  • Apr. 22, 2014, 2:28 PM
    • The ITC has issued a final ruling clearing Mellanox's (MLNX +4.2%) optical cables and VCSEL laser drivers of infringing an Avago (AVGO +2.8%) laser driver patents. An administrative law judge (ALJ) had ruled in Mellanox's favor in January.
    • At the same time, the ITC has upheld an ALJ ruling declaring Mellanox infringes another Avago VCSEL-related patent, and has issued cease-and-desist orders related to covered products (supplied to Mellanox by third parties).
    • Mellanox insists the latter ruling won't affect its ability to supply optical cables, or otherwise affect its product line.
    • Mellanox and Avago are both rallying on a good day for tech stocks. Mellanox's Q1 report is due on Thursday.
    | Apr. 22, 2014, 2:28 PM
  • Mar. 12, 2014, 9:36 AM
    • Infinera (INFN +7.9%) has been upgraded to Buy by Goldman, and fellow telecom equipment maker Calix (CALX +3.4%) has been upgraded to Neutral.
    • Motorola Solutions (MSI -3.9%) has been cut to Sell by Goldman.
    • Mellanox (MLNX +3.3%) has been started at Buy by Nomura.
    | Mar. 12, 2014, 9:36 AM
  • Mar. 11, 2014, 6:46 PM
    • Intel's (INTC) new MXC server interconnect cables leverage the chip giant's silicon photonics tech and optical fibers developed by Corning (GLW) to enable 1.6Tbps transfer speeds (800Gbps each way) via 64 fibers running at 25Gbps apiece. Traditional solutions work at 10Gbps, and max out at 12-24 fibers.
    • Corning plans to begin selling MXC cable assemblies, which have a range of 300 meters, in Q3. Intel asserts the technology's per-fiber throughput could eventually double to 50Gbps. The companies think supercomputer (HPC) vendors and cloud computing firms will be among the first buyers.
    • Over time, MXC's blistering speeds stand to further Intel's goal of creating server architectures in which CPU, memory, storage, networking, and other resources can be separately pooled and upgraded as needed. "The ability to take my memory and stash it a rack away, optical can enable that," says Intel exec Mario Paniccia.
    • Intel's efforts pose a challenge to optical component vendor Finisar (FNSR), whose shares sold off a year ago on worries about Intel and Cisco's silicon photonics efforts. They're also a challenge to high-speed interconnect leader Mellanox (MLNX), which last year acquired silicon photonics startup Kotura and 100G interconnect developer IPtronics. Since then, Mellanox has said it will ship 100G silicon photonics products in late 2014 or early 2015.
    | Mar. 11, 2014, 6:46 PM | 9 Comments
  • Jan. 30, 2014, 3:58 PM
    • In addition to missing Q4 revenue estimates (while beating on EPS), Mellanox (MLNX -5.1%) guided on its CC (transcript) for Q1 revenue of $100M-$105M, below a $112.4M consensus.
    • The maker of InfiniBand/Ethernet switches and adapter cards also said it expects its 2014 revenue to rise Y/Y, but analysts are already forecasting 28% growth.
    • When pressed by a Stifel analyst regarding the Q1 guidance, CEO Eyal Waldman mentioned "a large portion" of Mellanox customers in the high-performance computing (HPC) space (responsible for half of its revenue) are waiting for the launch of Intel's Grantley server CPUs (expected in Q3).
    • It looks as if Barclays' pre-earnings take was more accurate than Stifel's.
    | Jan. 30, 2014, 3:58 PM
  • Jan. 29, 2014, 4:43 PM
    • Mellanox Technologies, Ltd. (MLNX): Q4 EPS of $0.21 beats by $0.01.
    • Revenue of $105.5M (-13.6% Y/Y) misses by $2.37M.
    • Shares -2.5%.
    | Jan. 29, 2014, 4:43 PM
Company Description
Mellanox Technologies Ltd designs, manufactures and sells interconnect products and solutions that facilitate data transmission between servers, storage systems and communications infrastructure equipment and other embedded systems.