Mellanox Technologies (NASDAQ:MLNX) had its price objective raised by research analysts at Benchmark from $70.00 to $80.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the semiconductor producer’s stock. Benchmark’s target price suggests a potential upside of 21.67% from the stock’s current price.
MLNX has been the topic of several other research reports. JPMorgan Chase & Co. cut Mellanox Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, October 26th. Stifel Nicolaus raised their price objective on Mellanox Technologies from $53.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. Longbow Research upgraded Mellanox Technologies from a “neutral” rating to a “buy” rating in a report on Friday, December 1st. Barclays set a $47.00 price objective on Mellanox Technologies and gave the stock a “sell” rating in a report on Thursday, October 26th. Finally, Susquehanna Bancshares assumed coverage on Mellanox Technologies in a report on Wednesday, December 13th. They set a “positive” rating and a $75.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $65.30.
Mellanox Technologies (NASDAQ:MLNX) traded up $0.65 during mid-day trading on Friday, hitting $65.75. The stock had a trading volume of 1,981,749 shares, compared to its average volume of 482,358. Mellanox Technologies has a 1-year low of $40.70 and a 1-year high of $69.00. 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 firm has a market capitalization of $3,380.00, a PE ratio of -168.59, a price-to-earnings-growth ratio of 2.28 and a beta of 0.62.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings data on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.14. Mellanox Technologies had a positive return on equity of 4.81% and a negative net margin of 2.25%. The business had revenue of $237.60 million for the quarter, compared to analysts’ expectations of $235.43 million. During the same quarter last year, the firm 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 1.78 EPS for the current year.
In related news, CFO Yakov (Jacob) Shulman sold 2,706 shares of Mellanox Technologies stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $46.32, for a total value of $125,341.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael Kagan sold 2,500 shares of Mellanox Technologies stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $47.50, for a total value of $118,750.00. The disclosure for this sale can be found here. Insiders sold 260,718 shares of company stock worth $13,455,300 in the last quarter. 6.05% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. raised its position in Mellanox Technologies by 404.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,765 shares of the semiconductor producer’s stock valued at $114,000 after purchasing an additional 1,415 shares during the period. SG Americas Securities LLC purchased a new position in Mellanox Technologies in the second quarter valued at about $122,000. Legal & General Group Plc raised its position in 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 purchasing an additional 199 shares during the period. Juncture Wealth Strategies LLC purchased a new position in Mellanox Technologies in the third quarter valued at about $222,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Mellanox Technologies in the second quarter valued at about $259,000. 60.81% of the stock is currently owned by institutional investors.
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.