Mellanox Technologies, Ltd. (MLNX) Lowered to Sell at BidaskClub
Mellanox Technologies, Ltd. (NASDAQ:MLNX) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.
A number of other equities research analysts have also issued reports on MLNX. Zacks Investment Research lowered shares of Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 1st. Barclays PLC reaffirmed a “buy” rating and set a $50.00 price objective (down from $54.00) on shares of Mellanox Technologies in a report on Thursday, July 27th. Credit Suisse Group set a $45.00 price objective on shares of Mellanox Technologies and gave the company a “hold” rating in a report on Thursday, July 27th. Jefferies Group LLC reaffirmed an “underperform” rating and set a $38.00 price objective on shares of Mellanox Technologies in a report on Tuesday, June 20th. Finally, Roth Capital lowered shares of Mellanox Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $60.00 to $53.00 in a report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $49.86.
Shares of Mellanox Technologies (MLNX) traded down 0.78% during trading on Thursday, reaching $44.40. 19,661 shares of the company traded hands. The company has a market capitalization of $2.23 billion, a P/E ratio of 6342.86 and a beta of 0.68. The company’s 50-day moving average price is $44.64 and its 200-day moving average price is $47.38. Mellanox Technologies has a 52 week low of $38.75 and a 52 week high of $52.80.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.93%. The company had revenue of $212 million for the quarter, compared to analysts’ expectations of $209.62 million. During the same period last year, the business earned $0.87 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts forecast that Mellanox Technologies will post $2.14 EPS for the current fiscal year.
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In related news, Director Shai Cohen sold 50,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total value of $2,358,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Yakov (Jacob) Shulman sold 2,407 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.00, for a total transaction of $113,129.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,953 shares of company stock valued at $3,060,791. 6.05% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC acquired a new position in Mellanox Technologies during the second quarter worth $106,000. SG Americas Securities LLC acquired a new position in Mellanox Technologies during the second quarter worth $122,000. First Interstate Bank acquired a new position in Mellanox Technologies during the first quarter worth $159,000. First Mercantile Trust Co. acquired a new position in Mellanox Technologies during the first quarter worth $174,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Mellanox Technologies during the first quarter worth $186,000. 67.63% of the stock is owned by hedge funds and other 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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