Mellanox Technologies (MLNX) Given Hold Rating at Piper Jaffray Companies

Mellanox Technologies (NASDAQ:MLNX)‘s stock had its “hold” rating restated by investment analysts at Piper Jaffray Companies in a research report issued to clients and investors on Friday. They currently have a $73.00 price target on the semiconductor producer’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 11.03% from the company’s current price.

Other analysts also recently issued reports about the company. DA Davidson boosted their target price on Mellanox Technologies from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Stifel Nicolaus decreased their target price on Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. BidaskClub upgraded Mellanox Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. Longbow Research upgraded Mellanox Technologies from a “neutral” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Benchmark boosted their target price on Mellanox Technologies from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $65.30.

Mellanox Technologies (NASDAQ:MLNX) traded up $0.65 during trading on Friday, hitting $65.75. The company had a trading volume of 1,980,000 shares, compared to its average volume of 482,358. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12. Mellanox Technologies has a 12-month low of $40.70 and a 12-month high of $69.00. The stock has a market capitalization of $3,350.00, a P/E ratio of -410.94, a PEG ratio of 2.25 and a beta of 0.62.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.14. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The firm had revenue of $237.60 million for the quarter, compared to the consensus estimate of $235.43 million. During the same period in the previous year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. research analysts expect that Mellanox Technologies will post 0.84 EPS for the current fiscal year.

In other news, Director Shai Cohen sold 50,000 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $47.15, for a total value of $2,357,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eyal Waldman sold 2,500 shares of the business’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $64.80, for a total value of $162,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 260,718 shares of company stock valued at $13,455,300. Insiders own 6.05% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of Mellanox Technologies by 29.8% in the second quarter. Capital Research Global Investors now owns 2,139,726 shares of the semiconductor producer’s stock worth $92,650,000 after acquiring an additional 490,726 shares during the last quarter. Menora Mivtachim Holdings LTD. raised its holdings in shares of Mellanox Technologies by 36.2% in the third quarter. Menora Mivtachim Holdings LTD. now owns 1,834,105 shares of the semiconductor producer’s stock worth $86,478,000 after acquiring an additional 487,000 shares during the last quarter. Ion Asset Management Ltd. raised its holdings in shares of Mellanox Technologies by 9.1% in the second quarter. Ion Asset Management Ltd. now owns 1,247,141 shares of the semiconductor producer’s stock worth $54,001,000 after acquiring an additional 104,014 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Mellanox Technologies by 15.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,185,765 shares of the semiconductor producer’s stock worth $55,909,000 after acquiring an additional 156,119 shares during the last quarter. Finally, Senvest Management LLC raised its holdings in shares of Mellanox Technologies by 27.5% in the third quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock worth $51,257,000 after acquiring an additional 234,424 shares during the last quarter. 60.81% of the stock is 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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