Mellanox Technologies (MLNX) Receives New Coverage from Analysts at Loop Capital

Equities research analysts at Loop Capital initiated coverage on shares of Mellanox Technologies (NASDAQ:MLNX) in a research report issued on Monday, The Fly reports. The firm set a “buy” rating on the semiconductor producer’s stock.

Several other equities analysts also recently weighed in on MLNX. Stifel Nicolaus restated a “buy” rating and set a $80.00 price target on shares of Mellanox Technologies in a report on Friday, January 19th. Susquehanna Bancshares reiterated a “positive” rating and issued a $80.00 price objective (up from $75.00) on shares of Mellanox Technologies in a report on Friday, January 19th. Piper Jaffray Companies reiterated a “hold” rating and issued a $73.00 price objective on shares of Mellanox Technologies in a report on Friday, January 19th. DA Davidson reiterated a “buy” rating and issued a $80.00 price objective on shares of Mellanox Technologies in a report on Monday, January 22nd. Finally, Benchmark lifted their price objective on Mellanox Technologies from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Mellanox Technologies currently has a consensus rating of “Buy” and an average target price of $65.80.

Shares of Mellanox Technologies (NASDAQ MLNX) traded up $0.15 during trading hours on Monday, hitting $66.00. The stock had a trading volume of 503,606 shares, compared to its average volume of 595,525. Mellanox Technologies has a 1 year low of $40.70 and a 1 year high of $69.00. 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 capitalization of $3,360.00, a P/E ratio of -169.23, a PEG ratio of 2.18 and a beta of 0.62.

Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.14. Mellanox Technologies had a negative return on equity of 0.99% and a negative net margin of 1.09%. The firm had revenue of $237.60 million during the quarter, compared to the consensus estimate of $235.43 million. During the same period last year, the company earned $0.82 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. analysts expect that Mellanox Technologies will post 1.95 EPS for the current year.

In other Mellanox Technologies news, Director Shai Cohen sold 35,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $66.04, for a total transaction of $2,311,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Yakov (Jacob) Shulman sold 2,706 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $46.32, for a total value of $125,341.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,218 shares of company stock valued at $13,912,950. Corporate insiders own 6.05% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. Taylor Frigon Capital Management LLC bought a new stake in shares of Mellanox Technologies during the 4th quarter valued at about $3,688,000. Pier 88 Investment Partners LLC grew its stake in shares of Mellanox Technologies by 25.8% during the 4th quarter. Pier 88 Investment Partners LLC now owns 11,885 shares of the semiconductor producer’s stock valued at $769,000 after purchasing an additional 2,435 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Mellanox Technologies by 404.3% during the 4th 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. Sterling Capital Management LLC grew its stake in shares of Mellanox Technologies by 15.8% during the 3rd quarter. Sterling Capital Management LLC now owns 31,637 shares of the semiconductor producer’s stock valued at $1,492,000 after purchasing an additional 4,323 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in shares of Mellanox Technologies by 9.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 947,429 shares of the semiconductor producer’s stock valued at $44,671,000 after purchasing an additional 81,664 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

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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.

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