Mellanox Technologies (NASDAQ:MLNX) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.
A number of other equities research analysts have also weighed in on MLNX. Loop Capital lifted their price objective on Mellanox Technologies to $125.00 and gave the stock a “buy” rating in a research report on Thursday, June 28th. Piper Jaffray Companies reiterated a “buy” rating and issued a $110.00 price objective on shares of Mellanox Technologies in a research report on Wednesday, July 18th. Bank of America assumed coverage on Mellanox Technologies in a research report on Wednesday. They issued a “buy” rating and a $105.00 price objective on the stock. Zacks Investment Research upgraded Mellanox Technologies from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research report on Tuesday. Finally, Benchmark lifted their price objective on Mellanox Technologies from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $100.67.
Shares of MLNX stock opened at $71.72 on Thursday. The company has a market capitalization of $3.89 billion, a PE ratio of 78.81, a price-to-earnings-growth ratio of 1.44 and a beta of 0.54. Mellanox Technologies has a fifty-two week low of $42.25 and a fifty-two week high of $90.45.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Tuesday, July 17th. The semiconductor producer reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.16. The firm had revenue of $268.46 million for the quarter, compared to analyst estimates of $263.61 million. Mellanox Technologies had a return on equity of 12.26% and a net margin of 5.61%. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. On average, equities research analysts anticipate that Mellanox Technologies will post 3.41 earnings per share for the current year.
In other news, VP Michael Kagan sold 339 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $81.00, for a total value of $27,459.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marc Sultzbaugh sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $85.00, for a total value of $850,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,956 shares of company stock valued at $3,347,425. 4.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortis Advisors LLC purchased a new position in shares of Mellanox Technologies in the 2nd quarter valued at approximately $122,000. Cerebellum GP LLC purchased a new position in shares of Mellanox Technologies in the 2nd quarter valued at approximately $176,000. Empirical Finance LLC purchased a new position in shares of Mellanox Technologies in the 2nd quarter valued at approximately $213,000. Bayesian Capital Management LP purchased a new position in shares of Mellanox Technologies in the 1st quarter valued at approximately $219,000. Finally, Franklin Resources Inc. purchased a new position in shares of Mellanox Technologies in the 1st quarter valued at approximately $222,000. Institutional investors own 75.29% of the company’s stock.
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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