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4-Traders Homepage  >  Equities  >  Nasdaq  >  Mellanox Technologies, Ltd.    MLNX   IL0011017329

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Mellanox Technologies, Ltd. : Law Offices of Howard G. Smith Announces Investigation On Behalf of Investors of Mellanox Technologies, Ltd.

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02/13/2013 | 02:35am CET

Law Offices of Howard G. Smith announces that it is investigating potential claims against Mellanox Technologies, Ltd. ("Mellanox" or the "Company") (NASDAQ:MLNX) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by Mellanox between April 19, 2012 and January 2, 2013 were false and misleading concerning the Company's financial performance and prospects. Mellanox produces and supplies high-performance interconnect products that facilitate efficient data transmission between servers, storage systems and communications infrastructure equipment and other embedded systems.

The investigation is related to Mellanox's January 2, 2013 announcement lowering the Company's fourth quarter 2012 revenue guidance. Citing "a weaker demand environment, challenging macroeconomic conditions, and a technical issue associated with FDR 56Gb/s InfiniBand cabling which caused approximately $20 million of FDR deployments to be delayed" the Company revised its fourth quarter financial outlook to a range of $119 million to $121 million, sharply below the Company's previous guidance of $145 million to $150 million.

As a result of this news, the Company's stock price dropped more than 17%, or $10.46 per share, to a closing price of $50.70 per share on January 3, 2013 on heavy volume of more than 8.2 million shares traded.

If you purchased Mellanox common stock between April 19, 2012 and January 2, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215) 638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com


© Business Wire 2013
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Financials ($)
Sales 2017 927 M
EBIT 2017 163 M
Net income 2017 14,4 M
Finance 2017 474 M
Yield 2017 -
P/E ratio 2017 109,71
P/E ratio 2018 34,51
EV / Sales 2017 2,08x
EV / Sales 2018 1,89x
Capitalization 2 404 M
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 51,6 $
Spread / Average Target 5,6%
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NameTitle
Eyal D. Waldman President, Chief Executive Officer & Director
Irwin B. Federman Non-Executive Chairman
Ronnen Lovinger Vice President-Operations & Corporate Quality
Jacob Shulman Chief Financial Officer
Michael T. Kagan Chief Technology Officer & VP-Architecture
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