News articles about Mellanox Technologies (NASDAQ:MLNX) have trended somewhat positive on Friday, according to Accern. The research group identifies positive and negative news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Mellanox Technologies earned a news impact score of 0.20 on Accern’s scale. Accern also assigned press coverage about the semiconductor producer an impact score of 0 out of 100, meaning that recent news coverage is extremely unlikely to have an impact on the company’s share price in the immediate future.
MLNX has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Mellanox Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 3rd. BidaskClub lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, June 29th. Jefferies Group LLC reiterated an “underperform” rating and issued a $38.00 price objective on shares of Mellanox Technologies in a research note on Tuesday, June 20th. Credit Suisse Group lowered shares of Mellanox Technologies from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $50.00 to $45.00 in a research note on Thursday, April 27th. Finally, Piper Jaffray Companies lowered shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.50.
Mellanox Technologies (MLNX) opened at 44.80 on Friday. The firm has a 50-day moving average of $45.99 and a 200 day moving average of $46.82. Mellanox Technologies has a 1-year low of $38.75 and a 1-year high of $52.79. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 170.99 and a beta of 0.68.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Wednesday, April 26th. The semiconductor producer reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.20. Mellanox Technologies had a net margin of 1.58% and a return on equity of 8.12%. The company had revenue of $188.65 million during the quarter, compared to the consensus estimate of $204.70 million. During the same period in the previous year, the firm posted $0.81 EPS. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts expect that Mellanox Technologies will post $2.34 earnings per share for the current fiscal year.
In other Mellanox Technologies news, VP Michael Kagan sold 5,000 shares of Mellanox Technologies stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $47.50, for a total value of $237,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.05% of the company’s stock.
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Mellanox Technologies Company Profile
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company is an integrated supplier of interconnect products and solutions based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.
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