Mellanox Technologies (NASDAQ:MLNX) had its price target raised by investment analysts at Stifel Nicolaus from $53.00 to $70.00 in a research note issued to investors on Thursday. The firm presently has a “buy” rating on the semiconductor producer’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 13.54% from the company’s current price.
Several other research firms also recently weighed in on MLNX. Zacks Investment Research raised shares of Mellanox Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 1st. Barclays downgraded shares of Mellanox Technologies from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $50.00 to $48.00 in a report on Monday, October 9th. KeyCorp reiterated a “hold” rating on shares of Mellanox Technologies in a research report on Tuesday, October 17th. BidaskClub upgraded Mellanox Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, DA Davidson boosted their price objective on Mellanox Technologies from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $54.22.
Mellanox Technologies (NASDAQ MLNX) opened at $61.65 on Thursday. Mellanox Technologies has a 1-year low of $40.00 and a 1-year high of $63.20. The stock has a market cap of $3,140.00, a price-to-earnings ratio of 65.32, a PEG ratio of 4.61 and a beta of 0.64. The company has a current ratio of 3.12, a quick ratio of 2.78 and a debt-to-equity ratio of 0.17.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The company had revenue of $225.70 million during the quarter, compared to the consensus estimate of $226.74 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. sell-side analysts expect that Mellanox Technologies will post 0.83 EPS for the current year.
In related news, Director Amal M. Johnson sold 2,857 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $57.60, for a total value of $164,563.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shai Cohen sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $47.15, for a total value of $2,357,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 235,128 shares of company stock valued at $11,784,167. 6.05% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Capital Research Global Investors lifted its holdings in shares of Mellanox Technologies by 29.8% during the second quarter. Capital Research Global Investors now owns 2,139,726 shares of the semiconductor producer’s stock worth $92,650,000 after buying an additional 490,726 shares during the last quarter. Menora Mivtachim Holdings LTD. lifted its holdings in shares of Mellanox Technologies by 36.2% during the third quarter. Menora Mivtachim Holdings LTD. now owns 1,834,105 shares of the semiconductor producer’s stock worth $86,478,000 after buying an additional 487,000 shares during the last quarter. Ion Asset Management Ltd. lifted its holdings in shares of Mellanox Technologies by 9.1% during the second quarter. Ion Asset Management Ltd. now owns 1,247,141 shares of the semiconductor producer’s stock worth $54,001,000 after buying an additional 104,014 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Mellanox Technologies by 15.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,185,765 shares of the semiconductor producer’s stock worth $55,909,000 after buying an additional 156,119 shares during the last quarter. Finally, Senvest Management LLC lifted its holdings in shares of Mellanox Technologies by 27.5% during the third quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock worth $51,257,000 after buying an additional 234,424 shares during the last quarter. 60.84% of the stock is owned by hedge funds and other institutional investors.
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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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