Jefferies Group began coverage on shares of Mellanox Technologies (NASDAQ:MLNX) in a research note issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $40.00 price target on the stock. Jefferies Group’s price objective indicates a potential upside of 3.65% from the stock’s previous close.
The analysts wrote, “We expect MLNX’s superior Interconnect technology to be increasingly adopted as MLNX increases penetration of Cloud/Web 2.0 and as HPC/’Big Data’ analytics become part of the toolset of mainstream enterprises. However, in the near-term Street expectations and valuation for MLNX discount a revenue ramp in 2014 that is not riskless. We’re inclined to wait for a better entry point.”
A number of other firms have also recently commented on MLNX. Analysts at Janney Montgomery Scott reiterated a “fair value” rating on shares of Mellanox Technologies in a research note to investors on Tuesday, November 26th. They now have a $57.00 price target on the stock, down previously from $61.00. Separately, analysts at Zacks downgraded shares of Mellanox Technologies from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, November 19th. They now have a $42.30 price target on the stock. Finally, analysts at Topeka Capital Markets cut their price target on shares of Mellanox Technologies from $50.00 to $40.00 in a research note to investors on Thursday, October 24th. They now have a “hold” rating on the stock. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $49.90.
Shares of Mellanox Technologies (NASDAQ:MLNX) opened at 38.59 on Thursday. Mellanox Technologies has a one year low of $32.35 and a one year high of $71.96. The stock’s 50-day moving average is $37.30 and its 200-day moving average is $42.75. The company has a market cap of $1.690 billion and a P/E ratio of 584.70.
Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Wednesday, October 23rd. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.03. The company had revenue of $104.10 million for the quarter, compared to the consensus estimate of $108.11 million. During the same quarter in the prior year, the company posted $1.37 earnings per share. The company’s quarterly revenue was down 33.5% on a year-over-year basis. Analysts expect that Mellanox Technologies will post $0.92 EPS for the current fiscal year.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) is a fabless semiconductor company that produces and supplies interconnect products that facilitate data transmission between servers, storage systems and communications infrastructure equipment and other embedded systems.
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