Stifel Nicolaus Reiterates Buy Rating for Mellanox Technologies (MLNX)

Mellanox Technologies (NASDAQ:MLNX)‘s stock had its “buy” rating restated by analysts at Stifel Nicolaus in a report issued on Friday. They currently have a $80.00 price target on the semiconductor producer’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 21.67% from the stock’s previous close.

Several other equities analysts have also commented on the company. Piper Jaffray Companies reiterated a “hold” rating and issued a $73.00 target price on shares of Mellanox Technologies in a research note on Friday. Susquehanna Bancshares reiterated a “positive” rating and issued a $80.00 target price (up from $75.00) on shares of Mellanox Technologies in a research note on Friday. Benchmark upped their target price on Mellanox Technologies from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday. DA Davidson upped their target price on Mellanox Technologies to $75.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Finally, Zacks Investment Research upgraded Mellanox Technologies from a “hold” rating to a “strong-buy” rating and set a $74.00 target price for the company in a research note on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Mellanox Technologies currently has an average rating of “Hold” and a consensus target price of $65.30.

Shares of Mellanox Technologies (NASDAQ MLNX) traded up $0.65 during trading hours on Friday, hitting $65.75. The stock 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 current ratio of 3.12 and a quick ratio of 2.78. Mellanox Technologies has a twelve month low of $40.70 and a twelve month high of $69.00. The stock has a market capitalization of $3,350.00, a P/E ratio of -410.94, a P/E/G ratio of 2.25 and a beta of 0.62.

Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $237.60 million for the quarter, compared to the consensus estimate of $235.43 million. During the same period in the prior year, the business earned $0.82 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. sell-side analysts forecast that Mellanox Technologies will post 0.84 EPS for the current year.

In other Mellanox Technologies news, CFO Yakov (Jacob) Shulman sold 2,706 shares of the company’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 Securities & Exchange Commission, which is available through this link. Also, Director Amal M. Johnson sold 2,857 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $57.60, for a total value of $164,563.20. The disclosure for this sale can be found here. Insiders have sold 260,718 shares of company stock valued at $13,455,300 over the last 90 days. 6.05% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. increased its stake in Mellanox Technologies by 404.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,765 shares of the semiconductor producer’s stock worth $114,000 after acquiring an additional 1,415 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Mellanox Technologies in the second quarter valued at about $122,000. Legal & General Group Plc grew its stake in shares of Mellanox Technologies by 4.6% in the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after buying an additional 199 shares in the last quarter. Juncture Wealth Strategies LLC acquired a new stake in shares of Mellanox Technologies in the third quarter valued at about $222,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Mellanox Technologies in the second quarter valued at about $259,000. Institutional investors own 60.81% of the company’s stock.

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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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