EZchip Semiconductor Ltd. (EZCH) jumped the most in almost three months in Tel Aviv after the developer of network processors’ U.S. traded shares rose yesterday as profit more than tripled.
The shares of EZchip soared 10 percent, the most since Feb. 12, to 162.80 shekels, or the equivalent of $42.61, at 11:35 a.m. in Tel Aviv. The shares climbed 12 percent to $43.14 in New York yesterday.
The Yokneam, Israel-based company said first-quarter net income rose to $5.1 million from $1.5 million a year earlier. EZchip’s sales grew 9 percent to $14.4 million, compared with a $14 million median estimate of seven analysts (EZCH:US) surveyed by Bloomberg.
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