Mellanox Technologies (NASDAQ:MLNX)‘s stock had its “hold” rating reissued by Piper Jaffray Companies in a research report issued to clients and investors on Friday. They presently have a $73.00 price objective on the semiconductor producer’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 11.03% from the company’s previous close.
A number of other equities research analysts have also weighed in on the stock. Barclays lowered shares of Mellanox Technologies from an “overweight” rating to an “underweight” rating and reduced their target price for the stock from $50.00 to $48.00 in a report on Monday, October 9th. Stifel Nicolaus boosted their target price on shares of Mellanox Technologies from $53.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. JPMorgan Chase & Co. lowered shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, October 26th. Susquehanna Bancshares started coverage on shares of Mellanox Technologies in a report on Wednesday, December 13th. They set a “positive” rating and a $75.00 target price on the stock. Finally, Zacks Investment Research raised shares of Mellanox Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $65.30.
Mellanox Technologies (NASDAQ:MLNX) traded up $0.65 on Friday, reaching $65.75. 1,980,000 shares of the company’s stock were exchanged, compared to its average volume of 482,358. Mellanox Technologies has a 52-week low of $40.70 and a 52-week high of $69.00. The company has a quick ratio of 2.78, a current ratio of 3.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $3,350.00, a price-to-earnings ratio of -410.94, a price-to-earnings-growth ratio of 2.25 and a beta of 0.62.
Mellanox Technologies (NASDAQ:MLNX) last posted its earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.14. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The firm had revenue of $237.60 million for the quarter, compared to analyst estimates of $235.43 million. During the same period in the previous year, the firm posted $0.82 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. research analysts expect that Mellanox Technologies will post 0.84 EPS for the current fiscal year.
In related news, CFO Yakov (Jacob) Shulman sold 2,706 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $46.32, for a total transaction of $125,341.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Shai Cohen sold 50,000 shares of the business’s stock in a transaction 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. Insiders sold a total of 260,718 shares of company stock worth $13,455,300 in the last 90 days. Corporate insiders own 6.05% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. lifted its position in shares of Mellanox Technologies by 404.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,765 shares of the semiconductor producer’s stock valued at $114,000 after acquiring an additional 1,415 shares during the period. SG Americas Securities LLC acquired a new position in shares of Mellanox Technologies during the 2nd quarter valued at $122,000. Legal & General Group Plc lifted its position in shares of Mellanox Technologies by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after acquiring an additional 199 shares during the period. Juncture Wealth Strategies LLC acquired a new position in shares of Mellanox Technologies during the 3rd quarter valued at $222,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Mellanox Technologies during the 2nd quarter valued at $259,000. Institutional investors own 60.81% 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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