Mellanox Technologies (NASDAQ:MLNX) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.
Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group boosted their price target on shares of Mellanox Technologies from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, December 3rd. DA Davidson boosted their price target on shares of Mellanox Technologies to $124.00 and gave the stock a “buy” rating in a research report on Monday, January 28th. Barclays cut shares of Mellanox Technologies from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $108.00 to $125.00 in a research report on Tuesday, March 12th. Zacks Investment Research cut shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a research report on Monday, December 31st. Finally, Stifel Nicolaus cut shares of Mellanox Technologies from a “buy” rating to a “hold” rating and set a $117.95 price target on the stock. in a research report on Thursday, March 14th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Mellanox Technologies presently has a consensus rating of “Buy” and an average price target of $110.00.
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Shares of Mellanox Technologies stock opened at $117.78 on Wednesday. Mellanox Technologies has a 52 week low of $65.68 and a 52 week high of $119.10. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 1.31 and a beta of 0.29.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Wednesday, January 30th. The semiconductor producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.30 by $0.12. Mellanox Technologies had a net margin of 12.33% and a return on equity of 16.53%. The firm had revenue of $290.07 million for the quarter, compared to analysts’ expectations of $284.96 million. During the same period in the previous year, the business earned $0.82 earnings per share. Mellanox Technologies’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities analysts anticipate that Mellanox Technologies will post 4.82 EPS for the current year.
In related news, Director Amal M. Johnson sold 5,714 shares of Mellanox Technologies stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $95.49, for a total value of $545,629.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Glenda Dorchak sold 4,576 shares of Mellanox Technologies stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $85.00, for a total value of $388,960.00. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Private Capital Group LLC grew its stake in Mellanox Technologies by 259.4% during the 4th quarter. Private Capital Group LLC now owns 787 shares of the semiconductor producer’s stock valued at $73,000 after acquiring an additional 568 shares in the last quarter. QS Investors LLC grew its stake in Mellanox Technologies by 1,374.0% during the 4th quarter. QS Investors LLC now owns 1,813 shares of the semiconductor producer’s stock valued at $168,000 after acquiring an additional 1,690 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new position in Mellanox Technologies during the 4th quarter valued at about $205,000. Dixon Hubard Feinour & Brown Inc. VA purchased a new position in Mellanox Technologies during the 4th quarter valued at about $217,000. Finally, SG Americas Securities LLC purchased a new position in Mellanox Technologies during the 4th quarter valued at about $238,000. 76.94% of the stock is currently owned by hedge funds and other institutional investors.
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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