Piper Jaffray Companies reaffirmed their hold rating on shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) in a research note issued to investors on Friday. The brokerage currently has a $47.00 price target on the semiconductor producer’s stock.

A number of other analysts have also issued reports on MLNX. Zacks Investment Research upgraded Mellanox Technologies from a strong sell rating to a buy rating and set a $57.00 price objective on the stock in a research note on Wednesday, April 5th. Credit Suisse Group cut Mellanox Technologies from an outperform rating to a neutral rating and reduced their target price for the stock from $50.00 to $45.00 in a research report on Thursday, April 27th. Roth Capital cut Mellanox Technologies from a buy rating to a neutral rating and reduced their target price for the stock from $60.00 to $53.00 in a research report on Thursday, April 27th. Jefferies Group LLC reduced their target price on Mellanox Technologies from $41.00 to $38.00 and set an underperform rating for the company in a research report on Friday, April 28th. Finally, BidaskClub cut Mellanox Technologies from a hold rating to a sell rating in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $49.86.

Shares of Mellanox Technologies (NASDAQ MLNX) opened at 47.10 on Friday. The stock’s 50 day moving average price is $44.38 and its 200 day moving average price is $47.31. Mellanox Technologies has a 12-month low of $38.75 and a 12-month high of $52.79. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 6728.57 and a beta of 0.68.

Mellanox Technologies (NASDAQ:MLNX) last released 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 5.98%. The company had revenue of $212 million for the quarter, compared to the consensus estimate of $209.62 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts expect that Mellanox Technologies will post $2.18 earnings per share for the current year.

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In other news, VP Michael Kagan sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $47.50, for a total value of $237,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.05% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of MLNX. Endurance Wealth Management Inc. boosted its position in Mellanox Technologies by 32.0% in the second quarter. Endurance Wealth Management Inc. now owns 52,359 shares of the semiconductor producer’s stock worth $2,267,000 after buying an additional 12,690 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in Mellanox Technologies during the second quarter worth about $106,000. Harbour Capital Advisors LLC boosted its position in Mellanox Technologies by 4,230.2% in the second quarter. Harbour Capital Advisors LLC now owns 9,743 shares of the semiconductor producer’s stock worth $225,000 after buying an additional 9,518 shares during the last quarter. Wellington Shields & Co. LLC purchased a new position in Mellanox Technologies during the second quarter worth about $264,000. Finally, Handelsinvest Investeringsforvaltning boosted its position in Mellanox Technologies by 63.0% in the second quarter. Handelsinvest Investeringsforvaltning now owns 87,200 shares of the semiconductor producer’s stock worth $3,776,000 after buying an additional 33,700 shares during the last quarter. Hedge funds and other institutional investors own 67.66% of the company’s stock.

Mellanox Technologies Company Profile

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.

Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

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