Mellanox Technologies (NASDAQ:MLNX) had its price target raised by Loop Capital to $100.00 in a report issued on Friday. The brokerage currently has a positive rating on the semiconductor producer’s stock.
A number of other analysts also recently weighed in on the stock. DA Davidson set a $91.00 price target on shares of Mellanox Technologies and gave the stock a buy rating in a report on Friday. Barclays raised shares of Mellanox Technologies from an equal weight rating to an overweight rating and set a $90.00 price target for the company in a report on Thursday, April 12th. BidaskClub raised shares of Mellanox Technologies from a buy rating to a strong-buy rating in a report on Saturday, February 24th. Stifel Nicolaus upped their price target on shares of Mellanox Technologies from $80.00 to $94.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Finally, Summit Redstone set a $75.00 price target on shares of Mellanox Technologies and gave the stock a buy rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $75.25.
Shares of Mellanox Technologies stock opened at $78.35 on Friday. Mellanox Technologies has a 1-year low of $41.55 and a 1-year high of $79.37. The company has a quick ratio of 2.25, a current ratio of 2.58 and a debt-to-equity ratio of 0.07. The company has a market cap of $4,063.22, a PE ratio of 86.10, a PEG ratio of 2.09 and a beta of 0.54.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly 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 2.25% and a positive return on equity of 4.76%. The company had revenue of $237.60 million during the quarter, compared to the consensus estimate of $235.43 million. During the same quarter in the prior year, the firm posted $0.82 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. research analysts forecast that Mellanox Technologies will post 2.49 earnings per share for the current year.
In related news, VP Marc Sultzbaugh sold 5,000 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael Kagan sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $69.00, for a total transaction of $172,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,292 shares of company stock valued at $85,270 and have sold 54,381 shares valued at $3,628,808. 6.05% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Mellanox Technologies by 36.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,955 shares of the semiconductor producer’s stock worth $191,000 after purchasing an additional 788 shares in the last quarter. Advisor Group Inc. increased its position in Mellanox Technologies by 294.2% in the 4th quarter. Advisor Group Inc. now owns 1,573 shares of the semiconductor producer’s stock valued at $101,000 after acquiring an additional 1,174 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Mellanox Technologies by 404.3% in 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. UBS Asset Management Americas Inc. increased its position in Mellanox Technologies by 8.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 22,978 shares of the semiconductor producer’s stock valued at $1,487,000 after acquiring an additional 1,884 shares during the period. Finally, First Interstate Bank increased its position in Mellanox Technologies by 77.2% in the 4th quarter. First Interstate Bank now owns 4,660 shares of the semiconductor producer’s stock valued at $302,000 after acquiring an additional 2,030 shares during the period. Institutional investors and hedge funds 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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