Mellanox Technologies (MLNX) Announces Quarterly Earnings Results, Meets Expectations
Mellanox Technologies (NASDAQ:MLNX) issued its quarterly earnings data on Wednesday. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21, Analyst Ratings.Net reports. The company had revenue of $105.50 million for the quarter, compared to the consensus estimate of $107.87 million.
Shares of Mellanox Technologies (NASDAQ:MLNX) traded down 2.49% during mid-day trading on Wednesday, hitting $39.50. 772,649 shares of the company’s stock traded hands. Mellanox Technologies has a one year low of $32.35 and a one year high of $65.77. The stock’s 50-day moving average is $39.98 and its 200-day moving average is $39.91. The company has a market cap of $1.729 billion and a price-to-earnings ratio of 613.79.
A number of analysts have recently weighed in on MLNX shares. Analysts at Barclays downgraded shares of Mellanox Technologies from an “equal weight” rating to an “underweight” rating in a research note to investors on Friday, January 24th. They now have a $36.00 price target on the stock, down previously from $42.00. On the ratings front, analysts at Macquarie initiated coverage on shares of Mellanox Technologies in a research note to investors on Tuesday, January 14th. They set an “outperform” rating on the stock. Finally, analysts at Maxim Group upgraded shares of Mellanox Technologies from a “hold” rating to a “buy” rating in a research note to investors on Monday, December 9th. They now have a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $48.58.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.