Mellanox Technologies Given New $39.00 Price Target at JPMorgan Chase & Co. (MLNX)
Research analysts at JPMorgan Chase & Co. lowered their price target on shares of Mellanox Technologies (NASDAQ:MLNX) from $42.00 to $39.00 in a report released on Thursday, Analyst RN reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 9.64% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Janney Montgomery Scott cut their price target on shares of Mellanox Technologies from $65.00 to $61.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Barclays cut their price target on shares of Mellanox Technologies from $56.00 to $42.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Finally, 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. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.78.
Shares of Mellanox Technologies (NASDAQ:MLNX) traded up 0.20% during mid-day trading on Thursday, hitting $35.57. The stock had a trading volume of 819,567 shares. Mellanox Technologies has a 52-week low of $37.25 and a 52-week 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 $1.544 billion and a price-to-earnings ratio of 27.58.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the 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 prior year, the company posted $1.37 earnings per share. The company’s quarterly revenue was down 33.5% on a year-over-year basis. Analysts expect that Mellanox Technologies will post $1.02 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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