Mellanox Technologies, Ltd. (NASDAQ:MLNX) received a $47.00 price target from investment analysts at Barclays PLC in a research note issued on Thursday, October 26th. The brokerage presently has a “sell” rating on the semiconductor producer’s stock. Barclays PLC’s target price suggests a potential downside of 4.28% from the company’s previous close.
MLNX has been the subject of several other reports. Piper Jaffray Companies reaffirmed a “hold” rating and set a $47.00 price objective on shares of Mellanox Technologies in a research note on Friday, July 28th. BidaskClub downgraded shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co downgraded shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. TheStreet downgraded shares of Mellanox Technologies from a “b-” rating to a “c” rating in a research note on Friday, August 11th. Finally, Benchmark Co. began coverage on shares of Mellanox Technologies in a report on Tuesday, August 29th. They set a “buy” rating and a $60.00 price target on the stock. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $51.00.
Shares of Mellanox Technologies (NASDAQ MLNX) opened at $49.10 on Thursday. The company has a quick ratio of 2.78, a current ratio of 3.12 and a debt-to-equity ratio of 0.17. Mellanox Technologies has a 1-year low of $38.75 and a 1-year high of $52.79. The company has a market cap of $2,500.60, a P/E ratio of 52.23, a P/E/G ratio of 3.40 and a beta of 0.54.
Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The firm had revenue of $225.70 million for the quarter, compared to analysts’ expectations of $226.74 million. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. analysts expect that Mellanox Technologies will post 0.83 earnings per share for the current fiscal year.
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In other Mellanox Technologies news, CFO Yakov (Jacob) Shulman sold 2,706 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $46.32, for a total transaction of $125,341.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Kagan sold 5,000 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $45.01, for a total transaction of $225,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 62,706 shares of company stock worth $2,943,042 in the last 90 days. 6.05% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors increased its holdings in shares of Mellanox Technologies by 29.8% in the 2nd quarter. Capital Research Global Investors now owns 2,139,726 shares of the semiconductor producer’s stock valued at $92,650,000 after acquiring an additional 490,726 shares during the period. Menora Mivtachim Holdings LTD. boosted its position in shares of Mellanox Technologies by 36.2% during the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 1,834,105 shares of the semiconductor producer’s stock worth $86,478,000 after purchasing an additional 487,000 shares in the last quarter. Ion Asset Management Ltd. boosted its position in shares of Mellanox Technologies by 9.1% in the 2nd quarter. Ion Asset Management Ltd. now owns 1,247,141 shares of the semiconductor producer’s stock worth $54,001,000 after buying an additional 104,014 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Mellanox Technologies by 15.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,185,765 shares of the semiconductor producer’s stock worth $55,909,000 after buying an additional 156,119 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Mellanox Technologies by 2.5% in the 2nd quarter. Alliancebernstein L.P. now owns 1,063,251 shares of the semiconductor producer’s stock worth $46,039,000 after buying an additional 26,235 shares in the last quarter. 59.41% of the stock is currently owned by institutional investors.
About Mellanox Technologies
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company is an integrated supplier of interconnect products and solutions based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.
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