Mellanox Technologies (MLNX) Sets New 1-Year High and Low Following Analyst Upgrade

Mellanox Technologies (NASDAQ:MLNX)’s share price hit a new 52-week high and low during mid-day trading on Tuesday after Susquehanna Bancshares raised their price target on the stock from $80.00 to $90.00. Susquehanna Bancshares currently has a positive rating on the stock. Mellanox Technologies traded as low as $79.85 and last traded at $76.60, with a volume of 803191 shares. The stock had previously closed at $78.35.

A number of other equities analysts have also recently issued reports on the stock. Benchmark restated a “buy” rating and set a $90.00 target price (up previously from $80.00) on shares of Mellanox Technologies in a research report on Friday. Loop Capital lifted their target price on shares of 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 shares of Mellanox Technologies and gave the stock a “buy” rating in a research report on Friday. Barclays upgraded shares of Mellanox Technologies from an “equal weight” rating to an “overweight” rating and set a $90.00 target price for the company in a research report on Thursday, April 12th. Finally, BidaskClub upgraded shares of Mellanox Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $76.08.

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In other news, Director Shai Cohen sold 35,000 shares of the business’s 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Marc Sultzbaugh sold 5,000 shares of the business’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 disclosure for this sale can be found here. In the last three months, insiders bought 1,292 shares of company stock valued at $85,270 and sold 54,381 shares valued at $3,628,808. Insiders own 6.05% of the company’s stock.

Large investors have recently bought and sold shares of the company. Advisor Group Inc. raised its position in shares of Mellanox Technologies by 294.2% in the fourth quarter. Advisor Group Inc. now owns 1,573 shares of the semiconductor producer’s stock valued at $101,000 after buying an additional 1,174 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Mellanox Technologies by 404.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,765 shares of the semiconductor producer’s stock valued at $114,000 after buying an additional 1,415 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Mellanox Technologies in the fourth quarter valued at approximately $166,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Mellanox Technologies by 36.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,955 shares of the semiconductor producer’s stock valued at $191,000 after buying an additional 788 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Mellanox Technologies in the fourth quarter valued at approximately $257,000. 68.07% of the stock is owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.25 and a current ratio of 2.58. The stock has a market cap of $4,063.22, a price-to-earnings ratio of 85.93, a P/E/G ratio of 2.09 and a beta of 0.54.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings data on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. The business had revenue of $237.60 million during the quarter, compared to analyst estimates of $235.43 million. Mellanox Technologies had a negative net margin of 2.25% and a positive return on equity of 4.76%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 earnings per share. research analysts anticipate that Mellanox Technologies will post 2.49 earnings per share for the current fiscal year.

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Mellanox Technologies Company Profile

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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