Mellanox Technologies PT Lowered to $44.00 (MLNX)
Investment analysts at UBS AG dropped their price objective on shares of Mellanox Technologies (NASDAQ:MLNX) from $53.00 to $44.00 in a note issued to investors on Thursday, AnalystRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price target would indicate a potential upside of 5.04% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Craig Hallum upgraded shares of Mellanox Technologies (NASDAQ:MLNX) from a “hold” rating to a “buy” rating in a research note to investors on Thursday. They now have a $54.00 price target on the stock, up previously from $52.00. Separately, analysts at Credit Suisse raised their price target on shares of Mellanox Technologies (NASDAQ:MLNX) from $40.00 to $45.00 in a research note to investors on Thursday, July 25th. Finally, analysts at Piper Jaffray Cos. downgraded shares of Mellanox Technologies (NASDAQ:MLNX) from an “overweight” rating to a “neutral” rating in a research note to investors on Thursday, July 25th. They now have a $45.00 price target on the stock, down previously from $65.00. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $61.75.
Shares of Mellanox Technologies (NASDAQ:MLNX) traded up 5.04% during mid-day trading on Thursday, hitting $41.89. 1,588,797 shares of the company’s stock traded hands. Mellanox Technologies has a 52-week low of $33.69 and a 52-week high of $111.38. The stock has a 50-day moving average of $38.27 and a 200-day moving average of $48.43. The company has a market cap of $1.818 billion and a P/E ratio of 30.99.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.11. The company had revenue of $98.20 million for the quarter, compared to the consensus estimate of $97.26 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. The company’s revenue for the quarter was down 26.4% on a year-over-year basis. Analysts expect that Mellanox Technologies will post $1.17 EPS for the current fiscal year.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) is a fabless semiconductor company that produces and supplies interconnect products that facilitate data transmission between servers, storage systems and communications infrastructure equipment and other embedded systems.
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