Mellanox Technologies (MLNX) Stock Rating Upgraded by Longbow Research

Mellanox Technologies (NASDAQ:MLNX) was upgraded by stock analysts at Longbow Research from a “neutral” rating to a “buy” rating in a report issued on Friday, MarketBeat reports.

A number of other equities research analysts have also recently commented on MLNX. BidaskClub cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. DA Davidson raised their price objective on shares of Mellanox Technologies from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Zacks Investment Research cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. TheStreet cut shares of Mellanox Technologies from a “b-” rating to a “c” rating in a research note on Friday, August 11th. Finally, Barclays raised shares of Mellanox Technologies from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $47.00 to $55.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $52.33.

Mellanox Technologies (NASDAQ MLNX) traded up $1.80 on Friday, reaching $60.90. 826,413 shares of the company’s stock were exchanged, compared to its average volume of 590,922. The stock has a market cap of $3,100.00, a price-to-earnings ratio of 62.34, a PEG ratio of 4.05 and a beta of 0.54. Mellanox Technologies has a 12 month low of $38.75 and a 12 month high of $61.35. The company has a quick ratio of 2.78, a current ratio of 3.12 and a debt-to-equity ratio of 0.17.

Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $225.70 million for the quarter, compared to analysts’ expectations of $226.74 million. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.93 EPS. equities research analysts anticipate that Mellanox Technologies will post 0.83 EPS for the current fiscal year.

In related news, VP Michael Kagan sold 2,293 shares of Mellanox Technologies stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $59.00, for a total value of $135,287.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Yakov (Jacob) Shulman sold 2,706 shares of Mellanox Technologies stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $46.32, for a total transaction of $125,341.92. The disclosure for this sale can be found here. Insiders sold a total of 222,271 shares of company stock worth $10,992,379 in the last three months. 6.05% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its stake in Mellanox Technologies by 15.8% in the 3rd quarter. Sterling Capital Management LLC now owns 31,637 shares of the semiconductor producer’s stock valued at $1,492,000 after acquiring an additional 4,323 shares during the period. Neuberger Berman Group LLC grew its stake in Mellanox Technologies by 9.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 947,429 shares of the semiconductor producer’s stock valued at $44,671,000 after acquiring an additional 81,664 shares during the period. California Public Employees Retirement System grew its stake in Mellanox Technologies by 4.8% in the 3rd quarter. California Public Employees Retirement System now owns 99,332 shares of the semiconductor producer’s stock valued at $4,684,000 after acquiring an additional 4,532 shares during the period. Granahan Investment Management Inc. MA grew its stake in Mellanox Technologies by 8.8% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 81,600 shares of the semiconductor producer’s stock valued at $3,847,000 after acquiring an additional 6,567 shares during the period. Finally, Senvest Management LLC grew its stake in Mellanox Technologies by 27.5% in the 3rd quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock valued at $51,257,000 after acquiring an additional 234,424 shares during the period. 60.84% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

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