Mellanox Technologies PT Lowered to $42.00 (MLNX)
Equities researchers at Barclays decreased their price target on shares of Mellanox Technologies (NASDAQ:MLNX) from $56.00 to $42.00 in a research report issued on Thursday, Analyst Ratings.Net reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price target would suggest a potential upside of 10.53% from the stock’s previous close.
Mellanox Technologies (NASDAQ:MLNX) traded down 7.58% on Thursday, hitting $35.12. The stock had a trading volume of 1,765,169 shares. 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 $1.524 billion and a price-to-earnings 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 last year, the company posted $1.37 earnings per share. Mellanox Technologies’s revenue was down 33.5% compared to the same quarter last year. 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 Stifel Nicolaus reiterated a “buy” rating on shares of Mellanox Technologies in a research note to investors on Thursday. They now have a $55.00 price target on the stock, down previously from $63.00. Separately, analysts at UBS AG reiterated a “hold” rating on shares of Mellanox Technologies in a research note to investors on Thursday. They now have a $44.00 price target on the stock. Finally, analysts at Mizuho cut their price target on shares of Mellanox Technologies from $55.00 to $41.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Eleven equities research 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 $53.66.
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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