J.P. Morgan Suspends Ratings on Mellanox Technologies (MLNX)

J.P. Morgan is out with a research report this morning, where it suspends coverage on Mellanox Technologies MLNX. The JPM analysts noted that, due to J.P. Morgan's involvement in the transaction announced on 29 November 2010, they are suspending their rating and price target for Mellanox Technologies. The prior rating and price target should no longer be relied upon. Recently Mellanox reported 4Q results that were ahead of consensus estimates. 4Q revenue of $40.7M (+7.7% Q-Q, +14.5% Y-Y) was 2% higher than the consensus estimates, while EPS (ex-SBC) of $0.21 was $0.04 ahead of consensus estimates.