Mellanox Technologies, Ltd. (MLNX) Given Average Recommendation of “Hold” by Brokerages
Mellanox Technologies, Ltd. (NASDAQ:MLNX) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $51.14.
Several analysts recently issued reports on MLNX shares. Barclays PLC reissued a “buy” rating and issued a $50.00 price target (down previously from $54.00) on shares of Mellanox Technologies in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Mellanox Technologies from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Thursday, July 27th. Benchmark Co. started coverage on shares of Mellanox Technologies in a research report on Tuesday, August 29th. They issued a “buy” rating and a $60.00 price target for the company. TheStreet downgraded shares of Mellanox Technologies from a “b-” rating to a “c” rating in a research report on Friday, August 11th. Finally, BidaskClub raised shares of Mellanox Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st.
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Shares of Mellanox Technologies (MLNX) traded down 1.17% during mid-day trading on Friday, hitting $46.35. 266,461 shares of the stock were exchanged. The stock has a market capitalization of $2.33 billion, a P/E ratio of 6621.43 and a beta of 0.65. Mellanox Technologies has a 12-month low of $38.75 and a 12-month high of $52.80. The stock’s 50 day moving average price is $45.24 and its 200-day moving average price is $47.11.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.01. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.93%. The business had revenue of $212 million during the quarter, compared to analyst estimates of $209.62 million. During the same period in the previous year, the business posted $0.87 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that Mellanox Technologies will post $2.14 EPS for the current fiscal year.
In other Mellanox Technologies news, VP Michael Kagan sold 5,000 shares of Mellanox Technologies stock in a transaction on Monday, August 28th. The shares were sold at an average price of $45.01, for a total transaction of $225,050.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Yakov (Jacob) Shulman sold 2,407 shares of Mellanox Technologies stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.00, for a total transaction of $113,129.00. The disclosure for this sale can be found here. Insiders have sold a total of 69,953 shares of company stock worth $3,285,841 over the last ninety days. Insiders own 6.05% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in shares of Mellanox Technologies by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock worth $194,000 after purchasing an additional 199 shares during the period. Stifel Financial Corp raised its stake in shares of Mellanox Technologies by 1.0% during the 1st quarter. Stifel Financial Corp now owns 79,712 shares of the semiconductor producer’s stock worth $4,053,000 after purchasing an additional 758 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Mellanox Technologies by 4.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 21,011 shares of the semiconductor producer’s stock worth $910,000 after purchasing an additional 917 shares during the period. Swiss National Bank raised its stake in shares of Mellanox Technologies by 1.5% during the 1st quarter. Swiss National Bank now owns 72,221 shares of the semiconductor producer’s stock worth $3,680,000 after purchasing an additional 1,100 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Mellanox Technologies during the 2nd quarter worth $106,000. Institutional investors own 61.58% 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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