J.P. Morgan Maintains Neutral on Mellanox Technologies

J.P. Morgan is out with its report today on Mellanox Technologies MLNX, maintaining Neutral. In a note to clients, J.P. Morgan writes, "Mellanox held its first Analyst Day on Friday and we came away from the meeting confident that the company can maintain its significant leadership in the Infiniband market, and should benefit from secular growth areas like Web2.0, cloud, and data storage. The company provided an overview of its strategy, products, technology roadmap, and reiterated its financial outlook for 2Q 2011." J.P. Morgan maintains a $31 PT on MLNX. Shares of MLNX closed Friday at $30.70.