Mellanox Technologies (NASDAQ:MLNX) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.
A number of other equities research analysts have also recently commented on the company. BidaskClub cut Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 17th. Rosenblatt Securities reissued a “hold” rating on shares of Mellanox Technologies in a report on Wednesday, July 18th. Benchmark lifted their price objective on Mellanox Technologies from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 18th. DA Davidson lifted their price objective on Mellanox Technologies to $115.00 and gave the stock a “$83.60” rating in a report on Wednesday, July 18th. Finally, Barclays lifted their price objective on Mellanox Technologies from $103.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $93.00.
NASDAQ MLNX opened at $78.55 on Tuesday. The firm has a market cap of $4.41 billion, a PE ratio of 87.14, a price-to-earnings-growth ratio of 1.63 and a beta of 0.49. Mellanox Technologies has a one year low of $42.25 and a one year high of $90.45.
Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Tuesday, July 17th. The semiconductor producer reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.16. The company had revenue of $268.46 million for the quarter, compared to analysts’ expectations of $263.61 million. Mellanox Technologies had a return on equity of 12.26% and a net margin of 5.61%. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. research analysts predict that Mellanox Technologies will post 3.41 earnings per share for the current fiscal year.
In related news, VP Michael Kagan sold 339 shares of Mellanox Technologies stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $81.00, for a total value of $27,459.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clifton Thomas Weatherford sold 4,617 shares of Mellanox Technologies stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $83.90, for a total value of $387,366.30. Following the completion of the sale, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $503,400. The disclosure for this sale can be found here. In the last three months, insiders sold 375,633 shares of company stock valued at $31,894,011. 4.20% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of MLNX. Massey Quick Simon & CO. LLC grew its holdings in 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 buying an additional 699 shares in the last quarter. Fortis Advisors LLC purchased a new position in Mellanox Technologies during the 2nd quarter valued at about $122,000. Cerebellum GP LLC purchased a new position in Mellanox Technologies during the 2nd quarter valued at about $176,000. Empirical Finance LLC purchased a new position in Mellanox Technologies during the 2nd quarter valued at about $213,000. Finally, Bayesian Capital Management LP purchased a new position in Mellanox Technologies during the 1st quarter valued at about $219,000. 75.31% of the stock is 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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