Mellanox Technologies, Ltd. (MLNX) Receives Average Recommendation of “Hold” from Brokerages
Mellanox Technologies, Ltd. (NASDAQ:MLNX) has been given a consensus recommendation of “Hold” by the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $49.67.
Several analysts recently weighed in on the stock. Roth Capital downgraded 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 research report on Thursday, April 27th. Piper Jaffray Companies downgraded shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research report on Thursday, April 27th. Credit Suisse Group AG downgraded shares of Mellanox Technologies from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $50.00 to $45.00 in a research report on Thursday, April 27th. Zacks Investment Research downgraded shares of Mellanox Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 3rd. Finally, BidaskClub upgraded shares of Mellanox Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st.
In other Mellanox Technologies news, Director Shai Cohen sold 12,546 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $47.00, for a total transaction of $589,662.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Yakov (Jacob) Shulman sold 2,407 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was 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. Insiders have sold a total of 64,953 shares of company stock worth $3,060,791 over the last 90 days. 6.05% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in MLNX. Chicago Partners Investment Group LLC acquired a new stake in Mellanox Technologies during the second quarter worth approximately $106,000. SG Americas Securities LLC acquired a new stake in Mellanox Technologies during the second quarter worth approximately $122,000. First Interstate Bank acquired a new stake in Mellanox Technologies during the first quarter worth approximately $159,000. First Mercantile Trust Co. acquired a new stake in Mellanox Technologies during the first quarter worth approximately $174,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Mellanox Technologies during the first quarter worth approximately $186,000. Institutional investors own 66.10% of the company’s stock.
Mellanox Technologies (MLNX) traded up 0.23% on Tuesday, reaching $44.15. 188,419 shares of the company traded hands. The company has a market capitalization of $2.22 billion, a P/E ratio of 6307.14 and a beta of 0.68. The company has a 50-day moving average price of $44.62 and a 200-day moving average price of $47.31. Mellanox Technologies has a 12 month low of $38.75 and a 12 month high of $52.79.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The firm had revenue of $212 million during the quarter, compared to the consensus estimate of $209.62 million. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.93%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 earnings per share. Equities research analysts expect that Mellanox Technologies will post $2.14 EPS for the current year.
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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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