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To: brokendreams who wrote (874)7/26/2017 4:12:21 PM
From: brokendreams
   of 895
 
they also changed the way they are talking about OPEX.

In April:

  • An increase in non-GAAP operating expenses of 3 percent to 5 percent



and then today:



  • Non-GAAP operating expenses of $124 million to $126 million






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From: brokendreams7/26/2017 4:19:20 PM
   of 895
 
Here's the dicey thing for me:

  • Non-GAAP net income was $22.4 million, compared to $42.7 million in the second quarter of 2016.



  • So, you have Q2 2017 and Q2 2016 nearly the same in total revenue but your net income is nearly half what it was a year prior.

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    From: Jim Mullens8/3/2017 10:28:51 AM
    1 Recommendation   of 895
     
    Spectrum-2 Debuts 200GbE (Linley letter email)
    By Loring Wirbel

    The second-generation Ethernet switch from Mellanox, Spectrum-2, strongly supports the emerging IEEE 802.3bs 200GbE and 400GbE standards. The company has provided Ethernet adapters since 2007, though only the two switch generations are designed with Ethernet in mind. It introduced dedicated Ethernet chips two years ago by offering the first Spectrum generation.

    Spectrum-2 offers 16x400GbE ports or 32x200GbE ports, the latter standard being oft neglected. It's a single-chip device with 300ns latency and an aggregate L2 switching/L3 routing capacity of 6.4Tbps, or 9.52 billion packets per second. Spectrum-2 uses 128 native 50Gbps PAM4 serdes, which can also operate in optional 25Gbps NRZ mode, to provide the most port configurations. Its architecture allows "smart cut-through" between ports of different speeds -- for example, 25GbE to 100GbE in a top-of-rack (ToR) topology.

    Mellanox distinguishes the 16nm Spectrum-2 not only through port diversity but also through a large shared-memory packet buffer. It adds load-balancing and quality-of-service (QoS) features relative to Spectrum. Adaptive Flowlet Routing (the company's name for flowlet switching) improves the load balancing of equal-cost-multipath (ECMP) routing, and the new chip implements a dynamic flow-prioritization scheme to distinguish long-lived ("elephant") packet flows from short-lived ("mice") flows.

    The memory and QoS enhancements will appeal to hyperscale data-center operators and their OEM/ODM suppliers. Mellanox offers OEMs a choice of system-level products or chips; these customers can start with its system-level SN3xxx switches and later move to an in-house system design using the standalone Spectrum-2. Still, to take on Broadcom's Tomahawk switch directly, Mellanox must become as visible in switch-chip sales as it is in switching-system sales. In the near term, Spectrum-2 will face Innovium's Teralynx switch chips, which also use 50Gbps PAM4 serdes to enable 200GbE and 400GbE ports.

    Microprocessor Report subscribers can access the full article:
    http://www.linleygroup.com/mpr/article.php?id=11839





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    From: brokendreams8/8/2017 11:34:53 AM
    1 Recommendation   of 895
     
    Acquired company recently - tiny mention during CC but didn't go into detail. Now it's known:

    In August 2017, Mellanox acquired privately held Cigol Digital Systems Ltd., a company consisting of IDF cyber experts who specialize in FPGA-based security solutions. Mellanox acquired Cigol for its expertise in network security, crypto engines and FPGA design.

    The acquisition allows Mellanox to broaden its customer base by adding the necessary security building blocks designed to enable customers to achieve more robust and secure interconnect solutions. The Cigol acquisition will help improve Mellanox's ability to deliver faster time-to-market, high-end security solutions.

    Location: Herzliya, Israel
    Employees: 6

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    From: Jim Mullens8/23/2017 11:04:43 AM
    1 Recommendation   of 895
     
    Mellanox Network Adapters for 25G RoCE Ethernet Cloud Deployed in Alibaba

    Tue August 22, 2017 8:30 AM|Business Wire|About: MLNX

    Enhanced Network Solution Offers Superior Performance for Cloud Infrastructure to Deliver Industry’s Highest Efficiency and Business Value to Customers

    SUNNYVALE, Calif. & YOKNEAM, Israel--(BUSINESS WIRE)-- Mellanox ( MLNX)® Technologies, Ltd. (NASDAQ: MLNX), a leading supplier of high-performance, end-to-end interconnect solutions for data center servers and storage systems, today announced that Mellanox’s 25GbE and 100GbE ConnectX®-4 EN family of Ethernet adapters has been deployed in the data centers of Alibaba Group ( BABA), the world’s largest online and mobile ecommerce company. The announcement reflects Mellanox's continued investment in China, aligning on-going technology and product development efforts with key customers.

    The ConnectX-4 Network Interface Cards (NICs) has cutting edge technologies including:

    RoCE - RDMA over Converged Ethernet

    RDMA (Remote Direct Memory Access) technology is designed to solve the delay of server-side data processing in network transmission. RDMA enables network adapters to access the application buffer directly, bypassing the kernel, the CPU, and the protocol stack, so the CPU can perform more useful tasks during the I/O transport. This improves server performance, thus enabling application workloads to be highly scalable with high bandwidth networks.

    RDMA (RoCE), based on converged Ethernet, can be implemented on an existing open Ethernet network. With RoCE, there is no need to convert data centers legacy infrastructures, which allows companies to save on capital spending.

    RoCE enables introducing RDMA technology seamlessly into an Ethernet data center, which benefits applications by making them more efficient, without requiring massive changes to the current network infrastructure.

    DPDK - Data Path Development Kit

    DPDK provides a simple and complete framework for fast packet processing in data plane applications. The tool set allows developers to rapidly build new prototypes.

    The Mellanox open source DPDK software enables industry standard servers and provides the best performance to support large-scale, efficient production deployments of Network Function Virtualization (NFV) solutions such as gateways, load balancers, and enhanced security solutions that help prevent denial of service attacks in the data center.

    “This deployment demonstrates our commitment to the China market underscored by the collaboration with Alibaba,” said Amir Prescher, senior vice president of business development, Mellanox Technologies. “Spurred on by Mellanox’s continued strategic investment in the region, China overall is migrating to 25/100G.”

    Supporting Resources:

    Find out more: ConnectX-4 Lx 25GbE and ConnectX-4 100GbE Ethernet Adapters

    Explore: Mellanox RoCE

    Learn more about Mellanox products and solutions at: www.mellanox.com

    Follow Mellanox on: Twitter, Facebook, Google+, LinkedIn, and YouTube

    Join the Mellanox Community

    About Mellanox

    Mellanox Technologies (NASDAQ: MLNX) is a leading supplier of end-to-end Ethernet and InfiniBand intelligent interconnect solutions and services for servers, storage, and hyper-converged infrastructure. Mellanox intelligent interconnect solutions increase data center efficiency by providing the highest throughput and lowest latency, delivering data faster to applications and unlocking system performance. Mellanox offers a choice of high performance solutions: network and multicore processors, network adapters, switches, cables, software and silicon, that accelerate application runtime and maximize business results for a wide range of markets including high performance computing, enterprise data centers, Web 2.0, cloud, storage, network security, telecom and financial services. More information is available at: www.mellanox.com.

    https://seekingalpha.com/pr/16920807-mellanox-network-adapters-25g-roce-ethernet-cloud-deployed-alibaba?ifp=0




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    From: Jim Mullens8/25/2017 11:39:51 AM
    2 Recommendations   of 895
     
    Mellanox Accelerates BlueField SoC........................................................
    By Tom R. Halfhill

    High-speed network adapters and distributed flash-storage arrays are about to get a boost. Mellanox is testing the first silicon of its new BlueField processor and plans to begin general sampling in October. Barring any last-minute problems, volume production should start in 1H18. The company has doubled the chip's original packet-throughput target to 200Gbps.

    BlueField combines intellectual property (IP) from three recently merged companies: Mellanox, EZchip, and Tilera. Mellanox's main contribution is the ConnectX-5 Ethernet adapter, which becomes a fully integrated subsystem in the new SoC. From EZchip, the processor inherits vital packet acceleration. And from Tilera, it gains cryptography acceleration, a previously unreleased ARMv8 design, and experience building manycore processors using meshed tiles of programmable CPUs.

    In particular, BlueField adopts the ARMv8 architecture and some acceleration hardware originally planned for Tilera's next-generation Tile-Mx line. Instead of the ARM Cortex-A53 cores envisioned for the Tile-Mx100, however, Mellanox is using the brawnier Cortex-A72, which delivers about 2.5x more throughput per clock cycle. Thus, the largest BlueField design -- a 16-core chip -- will have about the same CPU horsepower as a 40-core A53-based chip. With help from the ConnectX-5 subsystem and other acceleration hardware, BlueField targets 200-gigabit networking -- twice as fast as Tilera's design target for the canceled Tile-Mx100.

    Although BlueField is running about three quarters behind the company's original schedule, it's coming hot on the heels of Broadcom's new NetXtreme BCM58808H processor, which also uses Cortex-A72 and is similar in other ways. Broadcom's octa-core chip will probably reach the market first, though, because it's already sampling.

    Microprocessor Report subscribers can access the full article:
    http://www.linleygroup.com/mpr/article.php?id=11848

    source- Linley newsletter email

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    To: Jim Mullens who wrote (880)8/25/2017 1:36:56 PM
    From: brokendreams
       of 895
     
    ya, apparently a lot of rework had to happen with the EZchip/Tilera stuff which is why the delay.

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    From: brokendreams8/25/2017 1:39:13 PM
       of 895
     
    Interesting read on why Tokyo Tech switched from InfiniBand to OPA. Hopefully Mellanox can push back on this.

    "It wasn’t just the speed. There were many more salient points by which we chose the Intel fabric."


    nextplatform.com

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    From: The Ox8/29/2017 9:17:10 AM
    2 Recommendations   of 895
     
    Mellanox Technologies (MLNX +1.80%) was initiated a new ‘Buy’ at Benchmark Company LLC with a 12-month target price of $60.

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    To: The Ox who wrote (883)8/31/2017 11:08:27 AM
    From: Jim Mullens
    1 Recommendation   of 895
     
    Ox, re: Benchmark- more detail.....................................

    streetinsider.com

    Benchmark initiates coverage on Mellanox Technologies (NASDAQ: MLNX) with a Buy rating and a price target of $60.00.

    The analyst expects a return to top-line growth to be motivated by ramping 25Gbps Ethernet NIC and switch sales as well as normalization in the storage market following the consolidation events in 2016 and product refreshes. The analyst also expects that fresh server processor product cycles from Intel and AMD will help boost growth along with Infiniband share gains driven by MLNX's 200 Gbps HDR.

    For an analyst ratings summary and ratings history on Mellanox Technologies click here. For more ratings news on Mellanox Technologies click here.

    >>>>>>>>>>>>>>>>>>>>>>>>>>>>>

    barrons.com

    Mellanox Can Ride the Rise of Flash Memory, Says Benchmark

    Mellanox has a number of factors to recommend its shares as it returns to growth next year, writes Benchmark's Gary Mobley, including its newer chips to create a "fabric" for interconnecting flash-based storage in data centers.

    By Tiernan Ray

    Aug. 29, 2017 12:43 p.m. ET

    Shares of high-speed interconnect technology provider Mellanox Technologies ( MLNX) are up $1.65, or almost 4%, at $46.85, in an otherwise down market, after The Benchmark Company’s Gary Mobley today started coverage of the stock with a Buy rating, and a $60 price target, writing that growth is coming back into its business from a number of factors, including especially the rise of non-volatile memory, such as flash, in data centers.

    Mobley starts his thesis by citing all the negatives against the stock, given that it has trailed the Philadelphia Semiconductor Index ( SOX) in the last five years:

    The shares have underperformed the SOX benchmark on a five-, three- and one-year basis. Most of the underperformance occurred during the past year when the Company witnessed lower-than-expected Infiniband sales as a result of server/storage OEM consolidation (HPE+SGI; Dell-EMC), delayed product launches from HPE and general sluggishness in the storage systems market. On the Ethernet side of Mellanox’s business, customer transitions from 40Gbps to 25Gbps solutions created a pocket of weakness. The “bears” will likely argue that Mellanox will have a difficult time growing revenue against a backdrop of slowing data center cap ex and a maturing external storage market. Additionally, they’ll likely argue that a sales mix shift toward NIC and switch systems will drive down gross margin, ignoring the fact this shift creates multiples more in average deal size and related gross profit.

    But, writes Mobley, chip speed increases in new server chips from Intel ( INTC) and Advanced Micro Devices ( AMD), "will always drive a treadmill of innovation for Mellanox,” especially as those chips have to increasingly connect to faster and faster storage and main memory systems.

    Mobley identifies the company’s competitive advantage in the move away from traditional “fibre channel” networking to connect to storage, and toward ethernet and other technologies:

    This shift toward cloud compute, combined with growth in flash-based storage, machine learning, object storage, etc. is driving a migration away from plain-vanilla Fibre-Channel and a movement toward mainstream Ethernet, Infiniband, and soon NVMe over fabric, with the latter three key markets and technologies being focus areas for Mellanox.

    He spends quite a bit of time explaining the company’s newer “BlueField” chips, which connect arrays of flash-based drives:

    At the recent Flash Memory Summit, Mellanox shared details regarding its BlueField SoC, related reference designs and ecosystem partners. The launch of BlueField is significant for Mellanox as the SoC specifically addresses the emerging NVMe-over-fabric market and complements existing Infiniband-and Ethernet-based technologies. BlueField also represents the first example of integration of the EZchip/Tilera packet inspection and multi-core (ARMv8.0) processor technology. Mellanox acquired EZchip in 2016. Mellanox has integrated the hardware needed to frontend an NVMe over-fabrics flash array into a single SoC, making it easier for shared flash storage system builders to put together NVMe JBOFs (a bunch of flash drives) – NVMe SSDs in this case.

    As far as estimates, Mobley is basically matching the Street for this year and next. He estimates $866.6 million in revenue this year and $2.14 per share in non-GAAP net income, compared to consensus for $867.7 million and $2.14. For 2018, he sees revenue of $976 million and EPS of $2.84, against consensus for $977.9 million and $2.85 per share.


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