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Stock Market & Financial Investment News

News Breaks
January 16, 2014
08:37 EDTMLNX, AVGOITC rules Mellanox did not infringe Avago's VCSEL Driver patent
Mellanox (MLNX) announced that on December 13, 2013, the Administrative Law Judge of the U.S. International Trade commission found that Mellanox’s production and sale of its Active Optical Cable products do not infringe Avago’s (AVGO) U.S. Patent Number 5,596,456, directed to a VCSEL driver, which was asserted against Mellanox by Avago in an ITC complaint filed in September 2012. In the investigation, Avago sought a ruling that the IPtronics’ drivers utilized in active optical cable products infringed the ‘456 patent The ALJ did make a finding, however, that certain Mellanox products that contain a particular type of vertical cavity surface emitting laser do infringe another of Avago’s patents, US Patent No. 5,596,595, directed to a VCSEL. Mellanox has asked the ITC to review this initial finding. The final determination on this issue is not expected until mid-April. The VCSELs in the products at issue are supplied to Mellanox by third parties. The proceedings and final resolution of the issues raised by Avago in the ITC are not currently expected to impact Mellanox’s current or planned product offerings or have a material adverse effect on the company’s business, financial position, results of operations or cash flow.
News For MLNX;AVGO From The Last 14 Days
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January 29, 2015
08:00 EDTMLNXMellanox price target raised to $63 from $53 at Stifel
Stifel increased its price target on Mellanox after the company reported stronger than expected Q4 results. The firm expects the company to benefit from an ongoing data center upgrade cycle well into 2016, and keeps a Buy rating on the shares.
06:18 EDTMLNXMellanox filed revised financial statements to correct errors in FY11-FY13
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January 28, 2015
18:21 EDTMLNXOn The Fly: After Hours Movers
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16:13 EDTMLNXMellanox sees Q1 revenue $140M-$145M, consensus $135.36M
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16:12 EDTMLNXMellanox reports Q4 EPS 59c, consensus 44c
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January 27, 2015
10:00 EDTMLNXOn the Fly: Analyst Downgrade Summary
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05:03 EDTMLNXMellanox downgraded to Hold from Buy at Jefferies
Jefferies downgraded Mellanox to Hold citing limited upside potential to its $50 price target.

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