InfiniBand developer Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) today announced that it plans to hire 55 new employees for its offices in Tel Aviv, Ra'anana, Yokne'am, and Tel Hai. Most of the jobs are for computer sciences students and graduates, computer engineers, and electrical engineers. The jobs are at the company's hardware, software, architecture, hardware design, and other units.
Mellanox said that all the new employees, including the students, will receive stock options and bonuses.
Harel Finance today began coverage of Mellanox with a "Buy" recommendation and target price of $33. Harel said that the recently completed merger with Voltaire should enrich the company's products basket, increase the number of customers, and boost turnover to $253 million in 2011 and $302 million in 2012.
Harel added that Oracle Corporation (Nasdaq: ORCL) will probably become an important Mellanox customer. "Oracle will likely increase purchases during 2011 for the launch of new generation Exadata database systems," it says, and concludes by predicting that Mellanox will post earnings per share of $1.02 in 2011 and $1.48 in 2012.
Mellanox's share price fell 0.2% on Nasdaq yesterday to $26.99, giving a market cap of $953 million, but rose 1% by midday on the TASE today to NIS 93.92.
Published by Globes [online], Israel business news - www.globes-online.com - on April 11, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011