Mellanox Technologies, Ltd. (MLNX) Earns Buy Rating from Barclays PLC
Mellanox Technologies, Ltd. (NASDAQ:MLNX)‘s stock had its “buy” rating reaffirmed by stock analysts at Barclays PLC in a research report issued to clients and investors on Wednesday. They currently have a $55.00 price objective on the stock. Barclays PLC’s price objective indicates a potential upside of 25.86% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Summit Redstone set a $65.00 price objective on Mellanox Technologies and gave the company a “buy” rating in a report on Monday, November 28th. Jefferies Group downgraded Mellanox Technologies from a “hold” rating to an “underperform” rating and cut their price objective for the company from $42.00 to $37.00 in a report on Monday, November 21st. TheStreet raised Mellanox Technologies from a “hold” rating to a “buy” rating in a report on Friday, November 18th. Finally, Roth Capital set a $60.00 price objective on Mellanox Technologies and gave the company a “buy” rating in a report on Sunday, October 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $61.46.
Mellanox Technologies (NASDAQ:MLNX) traded up 0.34% during midday trading on Wednesday, hitting $43.85. The stock had a trading volume of 407,800 shares. The stock has a 50-day moving average of $41.33 and a 200-day moving average of $43.52. Mellanox Technologies has a 52 week low of $37.54 and a 52 week high of $55.80. The firm has a market cap of $2.14 billion, a P/E ratio of 41.25 and a beta of 0.60.
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Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Thursday, October 27th. The company reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.33. The firm had revenue of $224.20 million for the quarter, compared to the consensus estimate of $25.16 million. Mellanox Technologies had a return on equity of 10.89% and a net margin of 6.49%. The company’s revenue was up 30.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. Analysts forecast that Mellanox Technologies will post $3.47 EPS for the current fiscal year.
In related news, CFO Yakov (Jacob) Shulman sold 2,782 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $43.28, for a total value of $120,404.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.32% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in MLNX. Sei Investments Co. increased its position in Mellanox Technologies by 58.5% in the second quarter. Sei Investments Co. now owns 2,349 shares of the company’s stock worth $112,000 after buying an additional 867 shares during the period. Westpac Banking Corp bought a new position in Mellanox Technologies during the third quarter worth about $143,000. ClariVest Asset Management LLC bought a new position in Mellanox Technologies during the second quarter worth about $148,000. BlackRock Fund Advisors increased its position in Mellanox Technologies by 5.2% in the second quarter. BlackRock Fund Advisors now owns 3,859 shares of the company’s stock worth $185,000 after buying an additional 192 shares during the period. Finally, Creative Planning increased its position in Mellanox Technologies by 30.5% in the third quarter. Creative Planning now owns 4,672 shares of the company’s stock worth $202,000 after buying an additional 1,091 shares during the period. Institutional investors and hedge funds own 63.28% of the company’s stock.
About Mellanox Technologies
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company designs, manufactures and sells interconnect products and solutions primarily based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment.
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