Mellanox Technologies, Ltd. (MLNX) Price Target Raised to $69.00
Mellanox Technologies, Ltd. (NASDAQ:MLNX) had its price objective raised by DA Davidson from $60.00 to $69.00 in a research note released on Wednesday morning, Marketbeat.com reports. They currently have a buy rating on the semiconductor producer’s stock.
Several other research firms also recently commented on MLNX. Barclays PLC downgraded shares of Mellanox Technologies from an overweight rating to an underweight rating and lowered their target price 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 Friday, September 1st. BidaskClub raised shares of Mellanox Technologies from a sell rating to a hold rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Mellanox Technologies from a strong-buy rating to a hold rating in a report on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a sell rating and issued a $38.00 target price on shares of Mellanox Technologies in a report on Sunday, September 10th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $52.80.
Mellanox Technologies (NASDAQ MLNX) opened at $58.30 on Wednesday. The company has a current ratio of 3.12, a quick ratio of 2.78 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 $58.60. The firm has a market cap of $2,908.04, a P/E ratio of 60.74, a price-to-earnings-growth ratio of 3.95 and a beta of 0.54.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share for the quarter, beating 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 business had revenue of $225.70 million for the quarter, compared to the consensus estimate of $226.74 million. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. equities research analysts forecast that Mellanox Technologies will post 0.83 EPS for the current fiscal year.
In other news, VP Marc Sultzbaugh sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $49.00, for a total transaction of $245,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Kagan sold 2,500 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $46.56, for a total transaction of $116,400.00. The disclosure for this sale can be found here. Insiders have sold 224,978 shares of company stock worth $11,082,142 in the last quarter. Company insiders own 6.05% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. HL Financial Services LLC boosted its stake in shares of Mellanox Technologies by 28.5% during the third quarter. HL Financial Services LLC now owns 13,833 shares of the semiconductor producer’s stock valued at $652,000 after purchasing an additional 3,067 shares during the period. Vanguard Group Inc. lifted its stake in Mellanox Technologies by 7.1% in the first quarter. Vanguard Group Inc. now owns 133,428 shares of the semiconductor producer’s stock worth $6,798,000 after acquiring an additional 8,841 shares during the period. Fox Run Management L.L.C. purchased a new stake in Mellanox Technologies in the third quarter worth about $519,000. Geode Capital Management LLC lifted its stake in Mellanox Technologies by 16.3% in the first quarter. Geode Capital Management LLC now owns 27,026 shares of the semiconductor producer’s stock worth $1,376,000 after acquiring an additional 3,784 shares during the period. Finally, ETF Managers Group LLC purchased a new stake in Mellanox Technologies in the second quarter worth about $578,000. 59.72% of the stock is owned by hedge funds and other institutional investors.
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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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