Shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) have received an average recommendation of “Hold” from the twelve analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $51.50.

A number of research analysts have recently issued reports on the stock. Credit Suisse Group lowered shares of Mellanox Technologies from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $45.00 in a research report on Thursday, April 27th. Roth Capital lowered shares of Mellanox Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $60.00 to $53.00 in a research report on Thursday, April 27th. Piper Jaffray Companies lowered shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating and set a $48.00 price objective on the stock. 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 objective on the stock in a research report on Wednesday, April 5th. Finally, Jefferies Group LLC lowered their price objective on shares of Mellanox Technologies from $41.00 to $38.00 and set an “underperform” rating on the stock in a research report on Friday, April 28th.

Shares of Mellanox Technologies (NASDAQ:MLNX) traded down 0.22% during mid-day trading on Friday, hitting $44.50. 251,093 shares of the company were exchanged. The firm has a market capitalization of $2.21 billion, a P/E ratio of 169.85 and a beta of 0.68. Mellanox Technologies has a 12-month low of $38.75 and a 12-month high of $52.79. The company’s 50-day moving average price is $44.65 and its 200-day moving average price is $47.15.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Wednesday, April 26th. The semiconductor producer reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by $0.20. The company had revenue of $188.65 million during the quarter, compared to analyst estimates of $204.70 million. Mellanox Technologies had a return on equity of 8.12% and a net margin of 1.58%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. Equities research 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 company’s stock in a transaction 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.05% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MLNX. FMR LLC increased its stake in Mellanox Technologies by 24.7% in the first quarter. FMR LLC now owns 3,298,585 shares of the semiconductor producer’s stock worth $168,064,000 after buying an additional 654,046 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Mellanox Technologies by 13.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,430,727 shares of the semiconductor producer’s stock valued at $123,846,000 after buying an additional 287,806 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Mellanox Technologies by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 1,405,862 shares of the semiconductor producer’s stock valued at $71,629,000 after buying an additional 36,074 shares during the period. FIL Ltd increased its stake in shares of Mellanox Technologies by 78.5% in the first quarter. FIL Ltd now owns 1,390,315 shares of the semiconductor producer’s stock valued at $70,836,000 after buying an additional 611,541 shares during the period. Finally, Menora Mivtachim Holdings LTD. increased its stake in shares of Mellanox Technologies by 128.3% in the first quarter. Menora Mivtachim Holdings LTD. now owns 1,347,105 shares of the semiconductor producer’s stock valued at $68,635,000 after buying an additional 757,000 shares during the period. 69.22% of the stock is currently owned by hedge funds and other institutional investors.

About Mellanox Technologies

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.

Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

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