Mellanox Technologies (NASDAQ:MLNX) had its target price increased by DA Davidson to $75.00 in a research report report published on Friday morning, The Fly reports. The firm currently has a buy rating on the semiconductor producer’s stock.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Mellanox Technologies from a hold rating to a strong-buy rating and set a $74.00 price objective for the company in a report on Wednesday, December 27th. Stifel Nicolaus boosted their price objective on shares of Mellanox Technologies from $53.00 to $70.00 and gave the company a buy rating in a report on Thursday, December 7th. BidaskClub raised shares of Mellanox Technologies from a hold rating to a buy rating in a report on Tuesday, December 5th. Barclays set a $47.00 price objective on shares of Mellanox Technologies and gave the company a sell rating in a report on Thursday, October 26th. Finally, KeyCorp reissued a hold rating on shares of Mellanox Technologies in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and an average target price of $59.20.
Shares of Mellanox Technologies (MLNX) traded up $1.35 during midday trading on Friday, hitting $66.30. 330,200 shares of the stock traded hands, compared to its average volume of 402,822. The company has a market capitalization of $3,380.00, a P/E ratio of -414.38, a PEG ratio of 2.32 and a beta of 0.62. Mellanox Technologies has a 52-week low of $40.70 and a 52-week high of $66.70. 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 released its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share 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 firm had revenue of $225.70 million during the quarter, compared to analysts’ expectations of $226.74 million. During the same period in the previous year, the company earned $0.93 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. equities research analysts forecast that Mellanox Technologies will post 0.84 earnings per share for the current year.
In other Mellanox Technologies news, CFO Yakov (Jacob) Shulman sold 12,590 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $65.75, for a total transaction of $827,792.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shai Cohen sold 50,000 shares of the company’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 transaction of $2,357,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 260,718 shares of company stock valued at $13,455,300. 6.05% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Mellanox Technologies in the second quarter worth approximately $122,000. Legal & General Group Plc boosted its position in shares of Mellanox Technologies by 4.6% in the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock worth $194,000 after purchasing an additional 199 shares during the period. Swiss National Bank boosted its position in shares of Mellanox Technologies by 2.2% in the second quarter. Swiss National Bank now owns 73,821 shares of the semiconductor producer’s stock worth $3,196,000 after purchasing an additional 1,600 shares during the period. Alliancebernstein L.P. boosted its position in shares of Mellanox Technologies by 2.5% in the second quarter. Alliancebernstein L.P. now owns 1,063,251 shares of the semiconductor producer’s stock worth $46,039,000 after purchasing an additional 26,235 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Mellanox Technologies by 4.6% in the second quarter. UBS Asset Management Americas Inc. now owns 21,011 shares of the semiconductor producer’s stock worth $910,000 after purchasing an additional 917 shares during the period. 60.81% of the stock is owned by institutional investors and hedge funds.
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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