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MLNX

Mellanox

$51.05

1 (2.00%)

, MRVL

Marvell

$21.59

1.3 (6.41%)

17:53
11/20/17
11/20
17:53
11/20/17
17:53

Starboard Value reports 9.8% stake in Mellanox, may seek talks

Peter A. Feld, a principal of Starboard Value LP, is a director of Marvell Technology Group (MRVL), which is a competitor in certain business lines of Mellanox (MLNX). In the past, Marvell has expressed an interest in discussing with Mellanox a potential strategic transaction on a negotiated friendly basis. Mellanox has declined to enter into any such discussions. To the knowledge of Starboard there are no current discussions regarding a strategic transaction between Marvell and Mellanox and Feld, while continuing to serve as a director of Marvell, has agreed that he would recuse himself from participation in any discussions at Marvell regarding any potential interest in Mellanox.

MLNX

Mellanox

$51.05

1 (2.00%)

MRVL

Marvell

$21.59

1.3 (6.41%)

  • 27

    Nov

  • 27

    Nov

  • 28

    Nov

  • 28

    Nov

  • 05

    Dec

  • 06

    Dec

MLNX Mellanox
$51.05

1 (2.00%)

07/12/17
JEFF
07/12/17
NO CHANGE
Target $125
JEFF
Underperform
IBM price target lowered to $125 from $135 at Jefferies
Jefferies analyst James Kisner lowered his price target for IBM (IBM) to $125 and reiterates an Underperform rating on the shares. While channel checks indicate IBM's Watson platform remains one of the most complete cognitive platforms available in the marketplace today, the "hefty services" component of many artificial intelligence deployments will be a hindrance to adoption, Kisner tells investors in a research note titled "Creating Shareholder Value with AI? Not so Elementary, My Dear Watson." The analyst also believes IBM looks "outgunned in the war" for AI talent and will likely see increasing competition. Kisner adds that his firm believes Nvidia (NVDA) is the biggest beneficiary of ramping AI adoption. He lists Pure Storage (PSTG) and Mellanox (MLNX) as other beneficiaries.
08/29/17
BNCH
08/29/17
INITIATION
Target $60
BNCH
Buy
Mellanox initiated with a Buy at Benchmark (earlier)
Before the open, Benchmark analyst Gary Mobley started Mellanox with a Buy rating and $60 price target.
10/09/17
LEHM
10/09/17
DOWNGRADE
Target $48
LEHM
Underweight
Mellanox downgraded to Underweight from Overweight at Barclays
Barclays analyst Joseph Wolf double downgraded Mellanox (MLNX) to Underweight from Overweight following the stock's outperformance year-to-date. The company's lead in 40GBE is beginning to fade amid competition from Intel (INTC), Broadcom (BRCM), and Cavium (CAVM) while Amazon (AMZN) and Google (GOOG, GOOGL) are sourcing 25/50/100 internally, Wolf tells investors in a research note. The analyst recommends using the recent strength in shares of Mellanox to take profits as he sees other names in the group outperforming on a relative basis from here. He lowered his price target for the stock to $48 from $50.
10/26/17
JPMS
10/26/17
DOWNGRADE
Target $47
JPMS
Neutral
Mellanox downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Harlan Sur downgraded Mellanox Technologies to Neutral citing a "flattish" 2018 outlook for the Infiniband business and increasing competitive pressures in Ethernet. The analyst lowered his price target for the shares to $47 from $51 following Mellanox's Q3 results.
MRVL Marvell
$21.59

1.3 (6.41%)

11/20/17
BOFA
11/20/17
UPGRADE
BOFA
Buy
Marvell upgraded to Buy from Neutral at BofA/Merrill
11/20/17
BOFA
11/20/17
UPGRADE
Target $26
BOFA
Buy
Marvell upgraded to Buy on Cavium deal at BofA/Merrill
BofA/Merrill analyst Vivek Arya upgraded Marvell (MRVL) two notches to Buy from Underperform and increased its price target to $26 from $15. The analyst said Marvell's proposed acquisition of Cavium (CAVM) adds secular growth drivers in cloud, 5G mobile networks, enterprise, and security with 25% potential earnings accretion. Arya views Cavium as an "ideal fit" for Marvell's slower growth profile and believes it better positions the company against larger peers.
11/20/17
BNCH
11/20/17
UPGRADE
BNCH
Buy
Marvell upgraded to Buy from Hold at Benchmark
11/20/17
OPCO
11/20/17
NO CHANGE
Target $30
OPCO
Outperform
Marvell price target raised to $30 from $23 at Oppenheimer
Oppenheimer analyst Rick Schafer raised his price target for Marvell (MRVL) to $30 from $23 after the company announced plans to acquire Cavium (CAVM) in a 50/50 cash/stock transaction valuing the latter at about $84/share. The analyst believes that acquiring Cavium increases Marvell's exposure to the datacenter/networking markets, creating a robust portfolio to better compete against powerhouse Broadcom (AVGO). Schafer sees the deal as a strategic use of Marvell's $1.6B in cash, and says he is bullish on the combination. He reiterates an Outperform rating on Marvell's shares.

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