Mellanox Technologies (NASDAQ:MLNX) had its price target hoisted by equities researchers at Benchmark from $90.00 to $95.00 in a research report issued on Saturday. The firm currently has a “buy” rating on the semiconductor producer’s stock. Benchmark’s price target would indicate a potential upside of 25.41% from the stock’s previous close.
Several other research analysts have also issued reports on the company. Stifel Nicolaus increased their price target on Mellanox Technologies from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. BidaskClub upgraded Mellanox Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 24th. Zacks Investment Research upgraded Mellanox Technologies from a “hold” rating to a “strong-buy” rating and set a $74.00 price target on the stock in a report on Wednesday, December 27th. Summit Redstone set a $75.00 price target on Mellanox Technologies and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, DA Davidson raised their target price on Mellanox Technologies to $75.00 and gave the company a “buy” rating in a report on Friday, January 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $79.58.
Shares of NASDAQ:MLNX opened at $75.75 on Friday. The company has a market capitalization of $4,029.32, a price-to-earnings ratio of 83.24, a PEG ratio of 2.07 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 has a 52-week low of $41.55 and a 52-week high of $79.85.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Tuesday, April 17th. The semiconductor producer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.13. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $244.93 million. Mellanox Technologies had a return on equity of 8.18% and a net margin of 3.31%. The company’s quarterly revenue was up 33.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. equities research analysts anticipate that Mellanox Technologies will post 2.49 earnings per share for the current year.
In other Mellanox Technologies news, VP Michael Kagan sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $71.00, for a total value of $355,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Yakov (Jacob) Shulman sold 2,406 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $65.39, for a total value of $157,328.34. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,292 shares of company stock valued at $85,270 and sold 54,381 shares valued at $3,628,808. Company insiders own 6.05% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Mellanox Technologies by 5.3% in the second quarter. State Street Corp now owns 53,753 shares of the semiconductor producer’s stock valued at $2,329,000 after purchasing an additional 2,725 shares in the last quarter. Legal & General Group Plc grew its position in shares of Mellanox Technologies by 46.8% in the third quarter. Legal & General Group Plc now owns 6,588 shares of the semiconductor producer’s stock valued at $311,000 after purchasing an additional 2,100 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in shares of Mellanox Technologies in the third quarter valued at $390,000. California Public Employees Retirement System grew its position in shares of Mellanox Technologies by 4.8% in the third quarter. California Public Employees Retirement System now owns 99,332 shares of the semiconductor producer’s stock valued at $4,684,000 after purchasing an additional 4,532 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew 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 purchasing an additional 1,415 shares in the last quarter. 68.07% of the stock is owned by institutional investors and hedge funds.
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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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