BidaskClub Downgrades Mellanox Technologies (MLNX) to Sell

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BidaskClub cut shares of Mellanox Technologies (NASDAQ:MLNX) from a hold rating to a sell rating in a research note published on Friday morning.

Other analysts also recently issued research reports about the company. Piper Jaffray Companies reissued a buy rating and set a $110.00 target price on shares of Mellanox Technologies in a research note on Wednesday, July 18th. Benchmark lifted their target price on Mellanox Technologies from $110.00 to $120.00 and gave the company a buy rating in a research note on Wednesday, July 18th. Barclays lifted their target price on Mellanox Technologies from $103.00 to $107.00 and gave the company a buy rating in a research note on Wednesday, July 18th. Rosenblatt Securities reissued a hold rating on shares of Mellanox Technologies in a research note on Wednesday, July 18th. Finally, DA Davidson lifted their target price on Mellanox Technologies to $115.00 and gave the company a $83.60 rating in a research note on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $93.00.

Shares of MLNX opened at $79.15 on Friday. The company has a market cap of $4.28 billion, a P/E ratio of 86.98, a price-to-earnings-growth ratio of 1.58 and a beta of 0.59. Mellanox Technologies has a 12-month low of $42.25 and a 12-month high of $90.45.

Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Tuesday, July 17th. The semiconductor producer reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.16. The company had revenue of $268.46 million for the quarter, compared to the consensus estimate of $263.61 million. Mellanox Technologies had a return on equity of 12.26% and a net margin of 5.61%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. equities analysts forecast that Mellanox Technologies will post 3.41 earnings per share for the current fiscal year.

In other Mellanox Technologies news, VP Michael Kagan sold 3,000 shares of Mellanox Technologies stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $80.50, for a total value of $241,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Value Lp Starboard sold 344,677 shares of Mellanox Technologies stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $85.03, for a total value of $29,307,885.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 372,550 shares of company stock worth $31,639,596. Corporate insiders own 4.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. US Bancorp DE increased its position in shares of Mellanox Technologies by 13.1% during the 1st quarter. US Bancorp DE now owns 5,449 shares of the semiconductor producer’s stock valued at $397,000 after purchasing an additional 630 shares during the last quarter. Massey Quick Simon & CO. LLC increased its position in shares of Mellanox Technologies by 100.0% during the 1st quarter. Massey Quick Simon & CO. LLC now owns 1,398 shares of the semiconductor producer’s stock valued at $102,000 after purchasing an additional 699 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Mellanox Technologies by 1.2% during the 1st quarter. California Public Employees Retirement System now owns 98,853 shares of the semiconductor producer’s stock valued at $7,201,000 after purchasing an additional 1,168 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in shares of Mellanox Technologies by 8.4% during the 1st quarter. Virginia Retirement Systems ET AL now owns 15,500 shares of the semiconductor producer’s stock valued at $1,129,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Natixis Advisors L.P. increased its position in shares of Mellanox Technologies by 3.6% during the 1st quarter. Natixis Advisors L.P. now owns 39,337 shares of the semiconductor producer’s stock valued at $2,866,000 after purchasing an additional 1,352 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

About Mellanox Technologies

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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