Susquehanna Bancshares Reiterates “Positive” Rating for Mellanox Technologies (MLNX)

Mellanox Technologies (NASDAQ:MLNX)‘s stock had its “positive” rating restated by research analysts at Susquehanna Bancshares in a research note issued to investors on Friday. They presently have a $80.00 price target on the semiconductor producer’s stock, up from their prior price target of $75.00. Susquehanna Bancshares’ target price indicates a potential upside of 22.89% from the stock’s previous close.

Several other research firms have also recently commented on MLNX. DA Davidson upped their target price on shares of Mellanox Technologies to $75.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Zacks Investment Research upgraded shares of Mellanox Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Barclays cut shares of Mellanox Technologies from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $50.00 to $48.00 in a research report on Monday, October 9th. Stifel Nicolaus decreased their target price on shares of Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. Finally, KeyCorp restated a “hold” rating on shares of Mellanox Technologies in a research report on Tuesday, October 17th. 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 given a strong buy rating to the company. Mellanox Technologies currently has a consensus rating of “Hold” and an average price target of $61.70.

Shares of Mellanox Technologies (NASDAQ:MLNX) traded up $0.80 during trading hours on Friday, hitting $65.10. 1,917,500 shares of the company were exchanged, compared to its average volume of 556,083. The company has a current ratio of 3.12, a quick ratio of 2.78 and a debt-to-equity ratio of 0.17. Mellanox Technologies has a twelve month low of $40.70 and a twelve month high of $66.80. The company has a market cap of $3,320.00, a P/E ratio of -406.88, a PEG ratio of 2.25 and a beta of 0.62.

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

In other news, Director Amal M. Johnson sold 2,857 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $57.60, for a total value of $164,563.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael Kagan sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $47.50, for a total transaction of $118,750.00. The disclosure for this sale can be found here. Insiders sold 260,718 shares of company stock valued at $13,455,300 over the last quarter. Insiders own 6.05% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. HL Financial Services LLC lifted its stake in Mellanox Technologies by 28.5% during the third quarter. HL Financial Services LLC now owns 13,833 shares of the semiconductor producer’s stock valued at $652,000 after purchasing an additional 3,067 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Mellanox Technologies during the third quarter valued at approximately $519,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in Mellanox Technologies by 15.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,185,765 shares of the semiconductor producer’s stock valued at $55,909,000 after purchasing an additional 156,119 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Mellanox Technologies by 240.5% during the third quarter. Canada Pension Plan Investment Board now owns 89,615 shares of the semiconductor producer’s stock valued at $4,225,000 after purchasing an additional 63,300 shares during the last quarter. Finally, Senvest Management LLC lifted its stake in Mellanox Technologies by 27.5% during the third quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock valued at $51,257,000 after purchasing an additional 234,424 shares during the last quarter. 60.81% of the stock is owned by institutional investors and hedge funds.

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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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