Mellanox Technologies (NASDAQ:MLNX) had its price objective increased by DA Davidson to $75.00 in a report published on Friday, The Fly reports. The firm currently has a buy rating on the semiconductor producer’s stock.
A number of other brokerages have also weighed in on MLNX. Zacks Investment Research upgraded Mellanox Technologies from a strong sell rating to a hold rating in a research report on Wednesday, November 1st. Barclays lowered Mellanox Technologies from an overweight rating to an underweight rating and cut their price objective for the company from $50.00 to $48.00 in a research report on Monday, October 9th. Stifel Nicolaus cut their price objective on Mellanox Technologies from $56.00 to $53.00 and set a buy rating for the company in a research report on Thursday, October 26th. KeyCorp restated a hold rating on shares of Mellanox Technologies in a research report on Tuesday, October 17th. Finally, BidaskClub upgraded Mellanox Technologies from a hold rating to a buy rating in a research report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Mellanox Technologies presently has a consensus rating of Hold and an average target price of $59.20.
Mellanox Technologies (NASDAQ:MLNX) opened at $66.30 on Friday. The firm has a market capitalization of $3,376.58, a PE ratio of -414.38, a PEG ratio of 2.32 and a beta of 0.62. 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 12-month low of $40.70 and a 12-month high of $66.70.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.07. The firm had revenue of $225.70 million during the quarter, compared to analyst estimates of $226.74 million. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 earnings per share. sell-side analysts forecast that Mellanox Technologies will post 0.84 EPS for the current year.
In other Mellanox Technologies news, Director Glenda Dorchak sold 5,500 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $64.88, for a total value of $356,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shai Cohen sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was 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. In the last ninety days, insiders sold 260,718 shares of company stock valued at $13,455,300. 6.05% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors lifted its stake in Mellanox Technologies by 29.8% in the second quarter. Capital Research Global Investors now owns 2,139,726 shares of the semiconductor producer’s stock worth $92,650,000 after purchasing an additional 490,726 shares during the last quarter. Menora Mivtachim Holdings LTD. lifted its stake in Mellanox Technologies by 36.2% in the third quarter. Menora Mivtachim Holdings LTD. now owns 1,834,105 shares of the semiconductor producer’s stock worth $86,478,000 after purchasing an additional 487,000 shares during the last quarter. Ion Asset Management Ltd. lifted its stake in Mellanox Technologies by 9.1% in the second quarter. Ion Asset Management Ltd. now owns 1,247,141 shares of the semiconductor producer’s stock worth $54,001,000 after purchasing an additional 104,014 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in Mellanox Technologies by 15.2% in 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 purchasing an additional 156,119 shares during the last quarter. Finally, Senvest Management LLC lifted its stake in Mellanox Technologies by 27.5% in the third quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock worth $51,257,000 after purchasing an additional 234,424 shares during the last quarter. 60.81% of the stock is owned by institutional investors and hedge funds.
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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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