Mellanox Technologies (MLNX) Price Target Raised to $75.00 at DA Davidson

Mellanox Technologies (NASDAQ:MLNX) had its target price lifted by equities researchers at DA Davidson to $75.00 in a report issued on Friday, The Fly reports. The firm currently has a “buy” rating on the semiconductor producer’s stock. DA Davidson’s price objective would suggest a potential upside of 13.12% from the stock’s current price.

MLNX has been the topic of several other reports. JPMorgan Chase & Co. lowered shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, October 26th. Stifel Nicolaus upped their price target on shares of Mellanox Technologies from $53.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Longbow Research raised shares of Mellanox Technologies from a “neutral” rating to a “buy” rating in a report on Friday, December 1st. Barclays set a $47.00 price target on shares of Mellanox Technologies and gave the company a “sell” rating in a report on Thursday, October 26th. Finally, Susquehanna Bancshares began coverage on shares of Mellanox Technologies in a report on Wednesday, December 13th. They issued a “positive” rating and a $75.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $59.20.

Shares of Mellanox Technologies (NASDAQ:MLNX) opened at $66.30 on Friday. Mellanox Technologies has a 1-year low of $40.70 and a 1-year high of $66.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.12 and a quick ratio of 2.78. The company has a market cap of $3,376.59, a price-to-earnings ratio of 70.53, a price-to-earnings-growth ratio of 2.32 and a beta of 0.62.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, beating the consensus estimate of $0.64 by $0.07. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The company had revenue of $225.70 million for the quarter, compared to analyst estimates of $226.74 million. During the same period in the prior year, the company earned $0.93 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. equities research analysts anticipate that Mellanox Technologies will post 0.84 EPS for the current year.

In other news, Director Glenda Dorchak sold 5,500 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $64.88, for a total transaction of $356,840.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amal M. Johnson sold 2,857 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $57.60, for a total transaction of $164,563.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 260,718 shares of company stock worth $13,455,300. Corporate insiders own 6.05% of the company’s stock.

Several hedge funds have recently bought and sold shares of MLNX. SG Americas Securities LLC purchased a new stake in shares of Mellanox Technologies during the 2nd quarter worth about $122,000. Legal & General Group Plc boosted 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 acquiring an additional 199 shares in the last quarter. Juncture Wealth Strategies LLC purchased a new stake in shares of Mellanox Technologies during the 3rd quarter worth about $222,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Mellanox Technologies during the 2nd quarter worth about $259,000. Finally, Sciencast Management LP purchased a new stake in shares of Mellanox Technologies during the 2nd quarter worth about $333,000. 60.81% of the stock is currently owned by institutional investors and hedge funds.

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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.

The Fly

Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)