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Fly News Breaks for October 1, 2015
Oct 1, 2015 | 08:21 EDT
Summit Research analyst Srini Nandury says this morning's Q3 guidance from Mellanox (MLNX) will assure investors that the story is still intact. The stock sold off yesterday following the EZchip (EZCH) acquisition on the fears that the company might have fallen short of expectations on the revenue side, Nandury tells investors in a research note. He reiterates a Buy rating on Mellanox with a $65 price target.
News For MLNX;EZCH From the Last 2 Days
Mar 19, 2018 | 09:44 EDT
Starboard Value LP, owner of 10.6% of Mellanox's outstanding shares, issued a statement in response to Mellanox's announcement that it will continue to proceed with its plans to hold an extraordinary general meeting and delay its 2018 annual meeting of shareholders until July 25, 2018. "We are disappointed by Mellanox's decision to continue with its plans to hold an Extraordinary General Meeting in May and significantly delay its 2018 Annual Meeting until the last possible day allowed under Israeli law. We are further disappointed that Mellanox chose not to even engage in discussions with us regarding the reasonable proposal we submitted that would have allowed the Company to both hold its 2018 Annual Meeting on schedule and concurrently enact the exact same governance changes that are the purported purpose of the EGM. Rather than engage with us to allow shareholders to vote on directors in a timely manner, Mellanox has instead resorted to manipulating its corporate machinery for its own benefit under the thinly veiled guise of 'good corporate governance'. These delays are totally unacceptable to us, and should be unacceptable to all shareholders. It further emphasizes our belief that meaningful change is needed at Mellanox."
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