Mellanox Technologies (NASDAQ:MLNX) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Mellanox Technologies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $98.00 to $100.00 in a research note on Thursday, October 25th. Bank of America started coverage on shares of Mellanox Technologies in a research note on Wednesday, October 10th. They set a “buy” rating and a $105.00 target price on the stock. DA Davidson upped their target price on shares of Mellanox Technologies to $124.00 and gave the company a “buy” rating in a research note on Monday, January 28th. Jefferies Financial Group upped their target price on shares of Mellanox Technologies from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, December 3rd. Finally, Zacks Investment Research cut shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a research note on Monday, December 31st. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $103.77.

MLNX opened at $95.62 on Friday. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 1.09 and a beta of 0.21. Mellanox Technologies has a 52-week low of $58.40 and a 52-week high of $99.14.

Mellanox Technologies (NASDAQ:MLNX) last posted its earnings results on Wednesday, January 30th. The semiconductor producer reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.12. The business had revenue of $290.07 million for the quarter, compared to analysts’ expectations of $284.96 million. Mellanox Technologies had a net margin of 12.33% and a return on equity of 16.98%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 EPS. On average, equities research analysts forecast that Mellanox Technologies will post 4.62 earnings per share for the current fiscal year.

In other news, Director Glenda Dorchak sold 4,576 shares of the stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $85.00, for a total value of $388,960.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Amal M. Johnson sold 5,714 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $90.00, for a total transaction of $514,260.00. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Senvest Management LLC increased its holdings in Mellanox Technologies by 16.3% in the 3rd quarter. Senvest Management LLC now owns 1,986,776 shares of the semiconductor producer’s stock worth $145,929,000 after acquiring an additional 279,057 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Mellanox Technologies by 22.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,394,062 shares of the semiconductor producer’s stock worth $102,389,000 after acquiring an additional 252,239 shares in the last quarter. Sandler Capital Management increased its holdings in Mellanox Technologies by 81.8% in the 3rd quarter. Sandler Capital Management now owns 560,001 shares of the semiconductor producer’s stock worth $41,132,000 after acquiring an additional 252,051 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Mellanox Technologies by 55.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 531,681 shares of the semiconductor producer’s stock worth $49,117,000 after acquiring an additional 189,935 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Mellanox Technologies in the 3rd quarter worth approximately $13,630,000. Hedge funds and other institutional investors own 74.15% 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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Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

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