Mellanox Technologies, Ltd. (MLNX) Receives Average Rating of “Hold” from Analysts
Mellanox Technologies, Ltd. (NASDAQ:MLNX) has received an average rating of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $51.14.
A number of analysts have commented on MLNX shares. Jefferies Group LLC reiterated a “sell” rating and set a $38.00 target price on shares of Mellanox Technologies in a research report on Sunday, September 10th. Benchmark Co. started coverage on Mellanox Technologies in a research report on Tuesday, August 29th. They set a “buy” rating and a $60.00 target price for the company. BidaskClub cut Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Piper Jaffray Companies reiterated a “hold” rating and set a $47.00 target price on shares of Mellanox Technologies in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded Mellanox Technologies from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Thursday, July 27th.
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Mellanox Technologies (MLNX) traded down 0.93% on Wednesday, reaching $48.15. 200,112 shares of the company traded hands. The firm has a 50 day moving average of $46.02 and a 200-day moving average of $46.77. Mellanox Technologies has a one year low of $38.75 and a one year high of $52.80. The stock has a market capitalization of $2.42 billion, a PE ratio of 6878.57 and a beta of 0.69.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $212.00 million during 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 business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS. On average, analysts anticipate that Mellanox Technologies will post $2.14 EPS for the current year.
In related news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shai Cohen sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $47.16, for a total value of $2,358,000.00. The disclosure for this sale can be found here. Insiders sold a total of 72,453 shares of company stock valued at $3,402,241 over the last ninety days. Corporate insiders own 6.05% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. US Bancorp DE increased its holdings in Mellanox Technologies by 521.4% during the 1st quarter. US Bancorp DE now owns 4,859 shares of the semiconductor producer’s stock worth $248,000 after purchasing an additional 4,077 shares during the period. Swiss National Bank increased its holdings in 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. UBS Asset Management Americas Inc. increased its holdings in Mellanox Technologies by 25.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 20,094 shares of the semiconductor producer’s stock worth $1,024,000 after purchasing an additional 4,047 shares during the period. Sei Investments Co. increased its holdings in Mellanox Technologies by 943.8% during the 1st quarter. Sei Investments Co. now owns 34,739 shares of the semiconductor producer’s stock worth $1,770,000 after purchasing an additional 31,411 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in Mellanox Technologies by 1,914.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 137,515 shares of the semiconductor producer’s stock worth $7,006,000 after purchasing an additional 130,688 shares during the period. 61.58% of the stock is 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.
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