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Shares of Mellanox Technologies (NASDAQ:MLNX) have been given a consensus rating of “Buy” by the twelve analysts that are presently covering the stock, American Banking News reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $48.17.

In other Mellanox Technologies news, VP Michael Kagan sold 2,400 shares of Mellanox Technologies stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $42.50, for a total value of $102,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

Several analysts have recently commented on the stock. Analysts at Barclays upgraded shares of Mellanox Technologies from an “underweight” rating to an “equal weight” rating in a research note on Monday, August 4th. They now have a $45.00 price target on the stock, up previously from $36.00. Separately, analysts at Macquarie raised their price target on shares of Mellanox Technologies from $52.00 to $56.00 in a research note on Monday, July 28th. They now have an “outperform” rating on the stock. Finally, analysts at Topeka Capital Markets raised their price target on shares of Mellanox Technologies from $38.00 to $42.00 in a research note on Friday, July 25th. They now have a “buy” rating on the stock.

Shares of Mellanox Technologies (NASDAQ:MLNX) opened at 41.79 on Tuesday. Mellanox Technologies has a 1-year low of $30.58 and a 1-year high of $46.04. The stock’s 50-day moving average is $40.64 and its 200-day moving average is $37.07. The company’s market cap is $1.879 billion.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.10 by $0.05. The company had revenue of $102.60 million for the quarter, compared to the consensus estimate of $102.64 million. During the same quarter last year, the company posted $0.30 earnings per share. Mellanox Technologies’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that Mellanox Technologies will post $0.88 EPS for the current fiscal year.

Mellanox Technologies, Ltd. (NASDAQ:MLNX) is a fabless semiconductor company that produces and supplies high-performance interconnects products that facilitate efficient data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.

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