Mellanox Technologies (NASDAQ:MLNX) had its target price increased by Stifel Nicolaus from $53.00 to $70.00 in a research report released on Thursday morning. The brokerage currently has a buy rating on the semiconductor producer’s stock.
MLNX has been the subject of several other reports. BidaskClub downgraded shares of Mellanox Technologies from a hold rating to a sell rating in a research note on Thursday, August 10th. J P Morgan Chase & Co cut shares of Mellanox Technologies from an overweight rating to a neutral rating in a research report on Thursday, October 26th. TheStreet cut shares of Mellanox Technologies from a b- rating to a c rating in a research report on Friday, August 11th. Benchmark initiated coverage on shares of Mellanox Technologies in a research report on Tuesday, August 29th. They set a buy rating and a $60.00 price target on the stock. Finally, Longbow Research upgraded shares of Mellanox Technologies from a neutral rating to a buy rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Mellanox Technologies has an average rating of Hold and an average price target of $54.22.
Shares of Mellanox Technologies (NASDAQ:MLNX) traded up $0.25 during trading hours on Thursday, hitting $61.65. 564,416 shares of the stock traded hands, compared to its average volume of 593,002. The company has a market capitalization of $3,022.63, a P/E ratio of 63.14, a price-to-earnings-growth ratio of 4.45 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 has a 52-week low of $40.00 and a 52-week high of $63.20.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, beating the consensus estimate of $0.64 by $0.07. The firm had revenue of $225.70 million during the quarter, compared to the consensus estimate of $226.74 million. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share. equities research analysts expect that Mellanox Technologies will post 0.83 earnings per share for the current fiscal year.
In other Mellanox Technologies news, VP Michael Kagan sold 2,293 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $59.00, for a total value of $135,287.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Marc Sultzbaugh sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $49.00, for a total transaction of $245,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 235,128 shares of company stock worth $11,784,167. Corporate insiders own 6.05% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Mellanox Technologies in the second quarter worth about $122,000. Legal & General Group Plc raised its holdings in shares of Mellanox Technologies by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after purchasing an additional 199 shares in the last quarter. Juncture Wealth Strategies LLC bought a new stake in shares of Mellanox Technologies in the 3rd quarter valued at about $222,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Mellanox Technologies in the 2nd quarter valued at about $259,000. Finally, Sciencast Management LP bought a new stake in shares of Mellanox Technologies in the 2nd quarter valued at about $333,000. Institutional investors and hedge funds own 60.84% of the company’s stock.
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About Mellanox Technologies
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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