Mellanox Technologies, Ltd. (NASDAQ:MLNX) had its price objective reduced by investment analysts at Stifel Nicolaus from $56.00 to $53.00 in a note issued to investors on Thursday, October 26th, MarketBeat Ratings reports. The firm currently has a “buy” rating on the semiconductor producer’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 7.94% from the company’s previous close.
Several other brokerages have also recently issued reports on MLNX. Barclays PLC cut Mellanox Technologies from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $50.00 to $48.00 in a report on Monday, October 9th. KeyCorp reissued a “hold” rating on shares of Mellanox Technologies in a report on Tuesday, October 17th. Zacks Investment Research raised Mellanox Technologies from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, July 27th. BidaskClub raised Mellanox Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Credit Suisse Group set a $45.00 price target on Mellanox Technologies and gave the stock a “hold” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Mellanox Technologies currently has an average rating of “Hold” and a consensus price target of $51.00.
Shares of Mellanox Technologies (MLNX) opened at $49.10 on Thursday. The company has a market capitalization of $2,500.60, a P/E ratio of 52.23, a PEG ratio of 3.40 and a beta of 0.54. Mellanox Technologies has a 1-year low of $38.75 and a 1-year high of $52.79. 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 (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07. The firm had revenue of $225.70 million during the quarter, compared to analysts’ expectations of $226.74 million. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. Mellanox Technologies’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 earnings per share. sell-side analysts anticipate 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 business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $46.32, for a total transaction of $125,341.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Kagan sold 2,500 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $46.56, for a total value of $116,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,706 shares of company stock valued at $2,943,042. Company insiders own 6.05% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MLNX. Capital Research Global Investors grew its position in Mellanox Technologies by 29.8% during the second 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. grew its position in Mellanox Technologies by 36.2% during the third quarter. Menora Mivtachim Holdings LTD. now owns 1,834,105 shares of the semiconductor producer’s stock valued at $86,478,000 after acquiring an additional 487,000 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its position in Mellanox Technologies by 43.8% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,029,646 shares of the semiconductor producer’s stock valued at $44,584,000 after acquiring an additional 313,573 shares during the period. Janus Henderson Group PLC purchased a new stake in Mellanox Technologies during the second quarter valued at about $12,617,000. Finally, Bank of America Corp DE lifted its stake in shares of Mellanox Technologies by 72.9% during the first quarter. Bank of America Corp DE now owns 567,479 shares of the semiconductor producer’s stock worth $28,913,000 after purchasing an additional 239,237 shares in the last quarter. 59.41% of the stock is owned by hedge funds and other institutional investors.
Mellanox Technologies Company Profile
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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