Barclays cut their price objective on shares of Mellanox Technologies (NASDAQ:MLNX) from $56.00 to $42.00 in a research note issued on Thursday, Stock Ratings Network reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price objective points to a potential upside of 10.53% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Mellanox Technologies in a research note to investors on Thursday. They now have a $55.00 price target on the stock, down previously from $63.00. Separately, analysts at UBS AG reiterated a “hold” rating on shares of Mellanox Technologies in a research note to investors on Thursday. They now have a $44.00 price target on the stock. Finally, analysts at Mizuho cut their price target on shares of Mellanox Technologies from $55.00 to $41.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Mellanox Technologies presently has an average rating of “Hold” and an average price target of $53.66.
Mellanox Technologies (NASDAQ:MLNX) traded down 7.18% on Thursday, hitting $35.27. The stock had a trading volume of 1,686,923 shares. Mellanox Technologies has a one year low of $37.25 and a one year high of $120.05. The stock’s 50-day moving average is $41.27 and its 200-day moving average is $50.18. The company has a market cap of $1.531 billion and a P/E ratio of 29.53.
Mellanox Technologies (NASDAQ:MLNX) last released its earnings data on Wednesday, October 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was down 33.5% on a year-over-year basis. On average, analysts predict that Mellanox Technologies will post $1.17 earnings per share 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.