Mellanox Technologies (MLNX) Stock Rating Upgraded by BidaskClub
BidaskClub upgraded shares of Mellanox Technologies (NASDAQ:MLNX) from a hold rating to a buy rating in a research report report published on Tuesday morning.
MLNX has been the subject of a number of other reports. J P Morgan Chase & Co downgraded Mellanox Technologies from an overweight rating to a neutral rating in a report on Thursday, October 26th. TheStreet downgraded Mellanox Technologies from a b- rating to a c rating in a report on Friday, August 11th. Benchmark began coverage on Mellanox Technologies in a report on Tuesday, August 29th. They issued a buy rating and a $60.00 price target for the company. Longbow Research raised Mellanox Technologies from a neutral rating to a buy rating in a report on Friday, December 1st. Finally, Jefferies Group reissued a sell rating and issued a $38.00 price target on shares of Mellanox Technologies in a report on Sunday, September 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Mellanox Technologies presently has an average rating of Hold and an average target price of $54.22.
Shares of Mellanox Technologies (NASDAQ:MLNX) opened at $61.65 on Tuesday. 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 twelve month low of $40.00 and a twelve month high of $63.20. The company has a market capitalization of $3,022.63, a PE ratio of 63.14, a P/E/G ratio of 4.45 and a beta of 0.64.
Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.07. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The firm had revenue of $225.70 million during the quarter, compared to the consensus estimate of $226.74 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. analysts expect that Mellanox Technologies will post 0.83 EPS for the current fiscal year.
In other news, Director Amal M. Johnson sold 2,857 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $57.60, for a total value of $164,563.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eyal Waldman sold 121,772 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $50.00, for a total value of $6,088,600.00. The disclosure for this sale can be found here. Insiders sold 235,128 shares of company stock valued at $11,784,167 over the last 90 days. Company insiders own 6.05% of the company’s stock.
Several institutional investors have recently bought and sold shares of MLNX. Chicago Partners Investment Group LLC purchased a new stake in shares of Mellanox Technologies in the second quarter valued at approximately $106,000. SG Americas Securities LLC purchased a new stake in shares of Mellanox Technologies in the second quarter valued at approximately $122,000. Legal & General Group Plc increased its position in shares of Mellanox Technologies by 4.6% in the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after buying an additional 199 shares in the last quarter. Juncture Wealth Strategies LLC purchased a new stake in shares of Mellanox Technologies in the third quarter valued at approximately $222,000. Finally, Harbour Capital Advisors LLC increased its position in shares of 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 valued at $225,000 after buying an additional 9,518 shares in the last quarter. Institutional investors and hedge funds own 60.84% 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.
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