Mellanox Technologies’ (MLNX) Sell Rating Reaffirmed at Jefferies Group LLC
Mellanox Technologies, Ltd. (NASDAQ:MLNX)‘s stock had its “sell” rating reissued by stock analysts at Jefferies Group LLC in a research note issued to investors on Sunday. They presently have a $38.00 price target on the semiconductor producer’s stock. Jefferies Group LLC’s price target points to a potential downside of 18.02% from the stock’s previous close.
Several other research analysts also recently commented on MLNX. BidaskClub downgraded shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Zacks Investment Research raised shares of Mellanox Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Barclays PLC reissued a “buy” rating and set a $50.00 price target (down from $54.00) on shares of Mellanox Technologies in a research note on Thursday, July 27th. Piper Jaffray Companies reissued a “hold” rating and set a $47.00 price target on shares of Mellanox Technologies in a research note on Friday, July 28th. Finally, Credit Suisse Group set a $45.00 price target on shares of Mellanox Technologies and gave the stock a “hold” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $51.13.
Shares of Mellanox Technologies (MLNX) opened at 46.35 on Friday. The firm’s 50-day moving average is $45.24 and its 200-day moving average is $47.11. Mellanox Technologies has a 12-month low of $38.75 and a 12-month high of $52.80. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 6621.43 and a beta of 0.65.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by $0.01. The business had revenue of $212 million for the quarter, compared to analysts’ expectations of $209.62 million. Mellanox Technologies had a return on equity of 5.93% and a net margin of 0.09%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.87 earnings per share. On average, equities analysts predict that Mellanox Technologies will post $2.14 EPS for the current year.
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In other news, Director Shai Cohen sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total value of $2,358,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael Kagan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $45.01, for a total transaction of $225,050.00. The disclosure for this sale can be found here. Insiders sold 69,953 shares of company stock worth $3,285,841 in the last 90 days. Company insiders own 6.05% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp boosted its holdings in Mellanox Technologies by 1.0% in the first quarter. Stifel Financial Corp now owns 79,712 shares of the semiconductor producer’s stock valued at $4,053,000 after acquiring an additional 758 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Mellanox Technologies in the first quarter valued at $22,861,000. Canada Pension Plan Investment Board boosted its holdings in Mellanox Technologies by 395.1% in the first quarter. Canada Pension Plan Investment Board now owns 26,315 shares of the semiconductor producer’s stock valued at $1,341,000 after acquiring an additional 21,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Mellanox Technologies by 57.7% in the first quarter. JPMorgan Chase & Co. now owns 151,088 shares of the semiconductor producer’s stock valued at $7,697,000 after acquiring an additional 55,275 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Mellanox Technologies in the first quarter valued at $6,878,000. Institutional investors and hedge funds 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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