Mellanox Technologies Price Target Cut to $41.00 (MLNX)
Investment analysts at Mizuho cut their target price on shares of Mellanox Technologies (NASDAQ:MLNX) from $55.00 to $41.00 in a note issued to investors on Thursday, American Banking & Market News reports. The firm currently has a “neutral” rating on the stock. Mizuho’s target price indicates a potential upside of 7.89% from the stock’s previous close.
Mellanox Technologies (NASDAQ:MLNX) opened at 38.00 on Thursday. Mellanox Technologies has a one year low of $37.25 and a one year high of $120.05. The stock’s 50-day moving average is $41.27 and its 200-day moving average is $50.18. The company has a market cap of $1.649 billion and a P/E ratio of 29.53.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.29 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.32 by $0.03. The company had revenue of $104.10 million for the quarter, compared to the consensus estimate of $108.11 million. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was down 33.5% on a year-over-year basis. On average, analysts predict that Mellanox Technologies will post $1.17 earnings per share for the current fiscal year.
MLNX has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Mellanox Technologies from a “neutral” rating to an “outperform” rating in a research note to investors on Monday. They now have a $42.50 price target on the stock. Separately, analysts at UBS AG cut their price target on shares of Mellanox Technologies from $53.00 to $44.00 in a research note to investors on Thursday, October 3rd. They now have a “neutral” rating on the stock. Finally, analysts at Craig Hallum upgraded shares of Mellanox Technologies from a “hold” rating to a “buy” rating in a research note to investors on Thursday, October 3rd. They now have a $54.00 price target on the stock, up previously from $52.00. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $56.66.
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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