Translation:You are welcome!
This is a reply to a thank-you. A literal translation would be "heartily".
The greeting "welcome" would be a conjugation of the verb üdvözöl, depending on the numbers of greeters and greeted ones. For instance it's "Üdvözöllek" if a single person greets a single person (and they're familiar with each other).
I would suggest: ''Welcome!'' to be just as valid as: ''You are welcome!''