Mellanox Technologies, Ltd. (MLNX) Given Average Recommendation of “Hold” by Analysts
Shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) have earned a consensus rating of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $51.50.
Several equities analysts have recently commented on the stock. Jefferies Group LLC reaffirmed an “underperform” rating and set a $38.00 price target on shares of Mellanox Technologies in a research report on Tuesday, June 20th. Credit Suisse Group cut shares of Mellanox Technologies from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $50.00 to $45.00 in a research report on Thursday, April 27th. Zacks Investment Research raised shares of Mellanox Technologies from a “strong sell” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Wednesday, April 5th. BidaskClub cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Finally, Piper Jaffray Companies cut shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research report on Thursday, April 27th.
Shares of Mellanox Technologies (NASDAQ MLNX) traded down 0.68% on Monday, reaching $43.80. The company had a trading volume of 247,467 shares. The company has a market capitalization of $2.18 billion, a P/E ratio of 167.18 and a beta of 0.77. The company has a 50 day moving average of $46.59 and a 200-day moving average of $46.75. Mellanox Technologies has a 52 week low of $38.75 and a 52 week high of $52.79.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Wednesday, April 26th. The semiconductor producer reported $0.29 EPS for the quarter, missing the consensus estimate of $0.49 by $0.20. Mellanox Technologies had a return on equity of 8.12% and a net margin of 1.58%. The company had revenue of $188.65 million for the quarter, compared to the consensus estimate of $204.70 million. During the same period in the previous year, the business posted $0.81 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts predict that Mellanox Technologies will post $2.34 earnings per share for the current fiscal year.
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In other Mellanox Technologies news, VP Michael Kagan sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $47.50, for a total value of $237,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.05% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in MLNX. First Interstate Bank purchased a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $159,000. First Mercantile Trust Co. purchased a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $174,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $186,000. Wexford Capital LP purchased a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $204,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $236,000. Institutional investors own 69.17% of the company’s stock.
Mellanox Technologies Company Profile
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company is an integrated supplier of interconnect products and solutions based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.
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