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Technology Stocks : Mellanox Technologies, Ltd.
MLNX 124.890.0%Apr 27 4:00 PM EDT
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From: Jim Mullens10/26/2018 10:51:56 AM
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Piper thinks Xilinx should buy Mellanox

https://seekingalpha.com/news/3401672-piper-thinks-xilinx-buy-mellanox#email_link

Oct. 26, 2018 8:52 AM ET|About: Mellanox Technologies, Ltd. (MLNX)|By: Brandy Betz, SA News Editor

Piper Jaffray assesses potential buyers for Mellanox (NASDAQ: MLNX) and names Xilinx (NASDAQ: XLNX) as a top contender.

The firm thinks Xilinx has a strategy that overlaps well with Mellanox’s offerings.

Piper also sees Intel and Broadcom as potential bidders since both have lost Ethernet adapter market share to MLNX. But Intel doesn’t have a permanent CEO at the moment, and Broadcom is currently buying CA Technologies.

Piper maintains an Overweight rating and $110 target on Mellanox.

Source: StreetAccount.

MLNX shares are up 13% premarket to $82.25. Xilinx shares are down 2.7% to $77.25 caught up in the NAND flash plummet following Western Digital’s earnings report and price warning.

Previously: Mellanox +12.7% after reportedly hiring adviser to explore sale (Oct. 25)

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