Mellanox Technologies (NASDAQ:MLNX) had its price target hoisted by investment analysts at Benchmark from $70.00 to $80.00 in a note issued to investors on Friday, January 19th. The firm currently has a “buy” rating on the semiconductor producer’s stock. Benchmark’s price target indicates a potential upside of 28.41% from the stock’s current price.
Several other research analysts have also issued reports on MLNX. Zacks Investment Research lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Longbow Research raised shares of Mellanox Technologies from a “neutral” rating to a “buy” rating in a research note on Friday, December 1st. KeyCorp reissued a “hold” rating on shares of Mellanox Technologies in a research note on Tuesday, October 17th. Barclays set a $47.00 price target on shares of Mellanox Technologies and gave the stock a “sell” rating in a research note on Thursday, October 26th. Finally, BidaskClub raised shares of Mellanox Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Mellanox Technologies currently has a consensus rating of “Buy” and an average price target of $67.45.
Mellanox Technologies (NASDAQ:MLNX) traded up $0.85 on Friday, hitting $62.30. 379,305 shares of the stock were exchanged, compared to its average volume of 649,632. The stock has a market cap of $3,130.00, a price-to-earnings ratio of -159.74, a P/E/G ratio of 2.04 and a beta of 0.71. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.12 and a quick ratio of 2.78. Mellanox Technologies has a 12-month low of $41.55 and a 12-month high of $69.00.
Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.14. Mellanox Technologies had a negative net margin of 2.25% and a positive return on equity of 4.81%. The company had revenue of $237.60 million during the quarter, compared to analyst estimates of $235.43 million. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. research analysts forecast that Mellanox Technologies will post 1.95 earnings per share for the current year.
In other Mellanox Technologies news, CEO Eyal Waldman sold 1,975 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $65.23, for a total value of $128,829.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Yakov (Jacob) Shulman sold 2,406 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $65.39, for a total transaction of $157,328.34. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,292 shares of company stock valued at $85,270 and sold 117,621 shares valued at $7,221,415. 6.05% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MLNX. GHP Investment Advisors Inc. purchased a new stake in shares of Mellanox Technologies during the fourth quarter valued at approximately $272,000. NWQ Investment Management Company LLC grew its holdings in shares of Mellanox Technologies by 25.0% during the fourth quarter. NWQ Investment Management Company LLC now owns 1,661,267 shares of the semiconductor producer’s stock valued at $107,484,000 after buying an additional 332,528 shares during the last quarter. Ardsley Advisory Partners purchased a new stake in shares of Mellanox Technologies during the fourth quarter valued at approximately $388,000. Two Sigma Investments LP grew its holdings in shares of Mellanox Technologies by 1,493.4% during the fourth quarter. Two Sigma Investments LP now owns 422,117 shares of the semiconductor producer’s stock valued at $27,311,000 after buying an additional 395,626 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Mellanox Technologies by 710.8% during the fourth quarter. Two Sigma Advisers LP now owns 227,225 shares of the semiconductor producer’s stock valued at $14,701,000 after buying an additional 199,200 shares during the last quarter. Institutional investors and hedge funds own 60.92% 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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