Mellanox Technologies (NASDAQ:MLNX)‘s stock had its “buy” rating reissued by stock analysts at Benchmark in a research report issued on Friday, The Fly reports. They currently have a $90.00 target price on the semiconductor producer’s stock, up from their previous target price of $80.00. Benchmark’s price target would suggest a potential upside of 16.05% from the company’s current price.
A number of other equities research analysts also recently weighed in on the company. Loop Capital lifted their target price on Mellanox Technologies to $100.00 and gave the stock a “positive” rating in a research report on Friday. DA Davidson set a $91.00 target price on Mellanox Technologies and gave the stock a “buy” rating in a research report on Friday. Barclays raised Mellanox Technologies from an “equal weight” rating to an “overweight” rating and set a $90.00 price objective on the stock in a report on Thursday. BidaskClub raised Mellanox Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 24th. Finally, Stifel Nicolaus lifted their price objective on Mellanox Technologies from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $75.25.
MLNX stock opened at $77.55 on Friday. Mellanox Technologies has a twelve month low of $41.55 and a twelve month high of $79.37. The stock has a market cap of $4,021.32, a P/E ratio of 85.22, a PEG ratio of 2.10 and a beta of 0.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.25 and a current ratio of 2.58.
Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 2.25%. The business had revenue of $237.60 million for the quarter, compared to the consensus estimate of $235.43 million. During the same period last year, the business earned $0.82 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. sell-side analysts predict that Mellanox Technologies will post 2.45 earnings per share for the current fiscal year.
In other news, Director Shai Cohen sold 35,000 shares of Mellanox Technologies stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $66.04, for a total value of $2,311,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Marc Sultzbaugh sold 5,000 shares of Mellanox Technologies stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $67.00, for a total transaction of $335,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,292 shares of company stock worth $85,270 and have sold 54,381 shares worth $3,628,808. 6.05% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB bought a new position in shares of Mellanox Technologies in the fourth quarter valued at approximately $299,000. Meitav Dash Investments Ltd. bought a new position in shares of Mellanox Technologies in the fourth quarter valued at approximately $53,317,000. Symmetry Peak Management LLC raised its stake in shares of Mellanox Technologies by 16.7% in the fourth quarter. Symmetry Peak Management LLC now owns 43,750 shares of the semiconductor producer’s stock valued at $2,831,000 after acquiring an additional 6,250 shares during the last quarter. LPL Financial LLC bought a new position in shares of Mellanox Technologies in the fourth quarter valued at approximately $597,000. Finally, Millennium Management LLC raised its stake in shares of Mellanox Technologies by 28.0% in the fourth quarter. Millennium Management LLC now owns 352,697 shares of the semiconductor producer’s stock valued at $22,819,000 after acquiring an additional 77,074 shares during the last quarter. Institutional investors own 68.07% of the company’s stock.
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About Mellanox Technologies
Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, and sells interconnect products and solutions worldwide. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment, and other embedded systems. The company offers InfiniBand solutions, including switch and gateway integrated circuits (ICs), adapter cards, cables, modules, and software, as well as switch, gateway, and long-haul systems; Ethernet solutions, such as Ethernet switch products and Ethernet adapters for use in enterprise data center, high-performance computing, embedded environments, hyperscale, Web 2.0, and cloud data centers.
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