Mellanox Technologies, Ltd. (MLNX) Stock Rating Reaffirmed by KeyCorp
Mellanox Technologies, Ltd. (NASDAQ:MLNX)‘s stock had its “hold” rating reiterated by equities research analysts at KeyCorp in a research note issued on Friday.
A number of other research firms have also recently issued reports on MLNX. BidaskClub upgraded shares of Mellanox Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies restated a “hold” rating and issued a $47.00 price objective on shares of Mellanox Technologies in a research report on Friday, July 28th. Credit Suisse Group set a $45.00 price objective on shares of Mellanox Technologies and gave the stock a “hold” rating in a research report on Thursday, July 27th. Finally, Benchmark Co. started coverage on shares of Mellanox Technologies in a research report on Tuesday. They issued a “buy” rating and a $60.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $51.13.
Shares of Mellanox Technologies (NASDAQ MLNX) opened at 46.95 on Friday. The company has a 50-day moving average price of $45.01 and a 200 day moving average price of $47.17. The firm has a market capitalization of $2.36 billion, a PE ratio of 6707.14 and a beta of 0.68. Mellanox Technologies has a 52-week low of $38.75 and a 52-week high of $52.79.
Mellanox Technologies (NASDAQ:MLNX) last posted its earnings results 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 firm had revenue of $212 million during the quarter, compared to the consensus estimate of $209.62 million. During the same quarter last year, the firm posted $0.87 EPS. The business’s revenue was down 1.3% on a year-over-year basis. Analysts expect that Mellanox Technologies will post $2.14 EPS for the current fiscal year.
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In other Mellanox Technologies news, VP Michael Kagan sold 5,000 shares of Mellanox Technologies stock in a transaction on Monday, August 28th. The shares were sold at an average price of $45.01, for a total transaction of $225,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shai Cohen sold 50,000 shares of Mellanox Technologies stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.16, for a total transaction of $2,358,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 69,953 shares of company stock valued at $3,285,841 in the last ninety days. Company insiders own 6.05% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. 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. 61.58% 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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