Mellanox Technologies (NASDAQ:MLNX) had its target price upped by equities researchers at Stifel Nicolaus from $53.00 to $70.00 in a report issued on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the semiconductor producer’s stock. Stifel Nicolaus’ price target suggests a potential upside of 14.01% from the company’s previous close.

Several other equities analysts have also recently issued reports on MLNX. BidaskClub upgraded Mellanox Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday. Longbow Research upgraded Mellanox Technologies from a “neutral” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research cut Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. TheStreet cut Mellanox Technologies from a “b-” rating to a “c” rating in a research note on Friday, August 11th. Finally, Barclays raised Mellanox Technologies from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $47.00 to $55.00 in a research report on Tuesday, November 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $54.22.

Shares of Mellanox Technologies (NASDAQ:MLNX) traded up $2.05 on Thursday, hitting $61.40. The stock had a trading volume of 1,070,814 shares, compared to its average volume of 593,123. The company has a quick ratio of 2.78, a current ratio of 3.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2,966.60, a PE ratio of 61.97, a PEG ratio of 4.03 and a beta of 0.64. Mellanox Technologies has a fifty-two week low of $39.70 and a fifty-two week high of $62.05.

Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. The business had revenue of $225.70 million during the quarter, compared to analysts’ expectations of $226.74 million. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 EPS. research analysts forecast that Mellanox Technologies will post 0.83 EPS for the current fiscal year.

In other news, CFO Yakov (Jacob) Shulman sold 2,706 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $46.32, for a total transaction of $125,341.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael Kagan sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $46.56, for a total value of $116,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 237,628 shares of company stock worth $11,900,567 in the last three months. Corporate insiders own 6.05% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in Mellanox Technologies by 4.6% during the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock worth $194,000 after buying an additional 199 shares during the period. UBS Asset Management Americas Inc. increased its position in Mellanox Technologies by 4.6% during the second quarter. UBS Asset Management Americas Inc. now owns 21,011 shares of the semiconductor producer’s stock worth $910,000 after buying an additional 917 shares during the period. Swiss National Bank increased its position in Mellanox Technologies by 2.2% during the second quarter. Swiss National Bank now owns 73,821 shares of the semiconductor producer’s stock worth $3,196,000 after buying an additional 1,600 shares during the period. State Street Corp increased its position in Mellanox Technologies by 5.3% during the second quarter. State Street Corp now owns 53,753 shares of the semiconductor producer’s stock worth $2,329,000 after buying an additional 2,725 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Mellanox Technologies during the second quarter worth approximately $122,000. 60.84% of the stock is currently owned by 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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