Mellanox Technologies (NASDAQ:MLNX) had its target price lifted by stock analysts at Loop Capital to $125.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the semiconductor producer’s stock. Loop Capital’s price objective would suggest a potential upside of 48.28% from the company’s previous close.
MLNX has been the topic of several other reports. Benchmark raised their price target on Mellanox Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 17th. Piper Jaffray Companies upgraded Mellanox Technologies from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a research report on Friday, May 18th. Barclays set a $103.00 price objective on Mellanox Technologies and gave the stock a “buy” rating in a research report on Thursday, May 17th. Credit Suisse Group lifted their price objective on Mellanox Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 18th. Finally, ValuEngine upgraded Mellanox Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $87.73.
Mellanox Technologies opened at $84.30 on Thursday, according to MarketBeat Ratings. Mellanox Technologies has a 1 year low of $42.05 and a 1 year high of $90.45. The company has a market cap of $4.46 billion, a P/E ratio of 51.75, a P/E/G ratio of 1.78 and a beta of 0.57.
Mellanox Technologies (NASDAQ:MLNX) last posted 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. Mellanox Technologies had a return on equity of 8.00% and a net margin of 3.31%. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $244.93 million. During the same period last year, the company earned $0.29 EPS. Mellanox Technologies’s revenue for the quarter was up 33.0% compared to the same quarter last year. analysts predict that Mellanox Technologies will post 3.16 earnings per share for the current year.
In other news, CFO Yakov (Jacob) Shulman sold 4,156 shares of Mellanox Technologies stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $78.14, for a total value of $324,749.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Marc Sultzbaugh sold 1,800 shares of Mellanox Technologies stock in a transaction that occurred on Thursday, May 3rd. The stock was sold at an average price of $79.75, for a total value of $143,550.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,212 shares of company stock worth $490,344. Corporate insiders own 4.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massey Quick Simon & CO. LLC boosted its position in shares of Mellanox Technologies by 100.0% during the first quarter. Massey Quick Simon & CO. LLC now owns 1,398 shares of the semiconductor producer’s stock valued at $102,000 after purchasing an additional 699 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Mellanox Technologies by 294.2% during the fourth quarter. Advisor Group Inc. now owns 1,573 shares of the semiconductor producer’s stock valued at $101,000 after purchasing an additional 1,174 shares in the last quarter. Comerica Bank bought a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $227,000. One Capital Management LLC bought a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $219,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $219,000. Institutional investors own 74.48% of the company’s stock.
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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