Shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) have received an average recommendation of “Buy” from the seventeen analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $102.15.

Several equities analysts have recently commented on the company. Zacks Investment Research cut Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 19th. ValuEngine lowered Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. JPMorgan Chase & Co. raised Mellanox Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $98.00 to $100.00 in a research report on Thursday, October 25th. Bank of America started coverage on Mellanox Technologies in a research report on Wednesday, October 10th. They set a “buy” rating and a $105.00 price target on the stock. Finally, Jefferies Financial Group started coverage on Mellanox Technologies in a research report on Tuesday, October 2nd. They set a “buy” rating and a $110.00 price target on the stock.

In other news, VP Marc Sultzbaugh sold 10,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $76.13, for a total transaction of $761,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amal M. Johnson sold 5,714 shares of the firm’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $90.00, for a total value of $514,260.00. The disclosure for this sale can be found here. Insiders sold 20,714 shares of company stock worth $1,700,610 over the last ninety days. 4.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of MLNX. Morgan Stanley increased its holdings in shares of Mellanox Technologies by 562.2% during the second quarter. Morgan Stanley now owns 1,072,024 shares of the semiconductor producer’s stock valued at $90,373,000 after purchasing an additional 910,142 shares during the period. Renaissance Technologies LLC boosted its stake in Mellanox Technologies by 72.2% during the second quarter. Renaissance Technologies LLC now owns 681,483 shares of the semiconductor producer’s stock valued at $57,449,000 after buying an additional 285,800 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in Mellanox Technologies by 15.2% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,132,734 shares of the semiconductor producer’s stock valued at $179,789,000 after buying an additional 280,711 shares in the last quarter. Senvest Management LLC boosted its stake in Mellanox Technologies by 16.3% during the third quarter. Senvest Management LLC now owns 1,986,776 shares of the semiconductor producer’s stock valued at $145,929,000 after buying an additional 279,057 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Mellanox Technologies by 22.1% during the third quarter. Neuberger Berman Group LLC now owns 1,394,062 shares of the semiconductor producer’s stock valued at $102,389,000 after buying an additional 252,239 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Mellanox Technologies stock opened at $94.57 on Monday. The company has a market cap of $5.06 billion, a PE ratio of 103.92, a price-to-earnings-growth ratio of 1.40 and a beta of 0.31. Mellanox Technologies has a 52 week low of $57.25 and a 52 week high of $99.14.

Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Wednesday, October 24th. The semiconductor producer reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.13. The company had revenue of $279.20 million during the quarter, compared to analysts’ expectations of $275.49 million. Mellanox Technologies had a return on equity of 14.72% and a net margin of 8.57%. The business’s revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 EPS. As a group, sell-side analysts anticipate that Mellanox Technologies will post 3.56 earnings per share for the current year.

Mellanox Technologies Company Profile

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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