Mellanox Technologies (NASDAQ:MLNX) was upgraded by research analysts at Piper Jaffray from a “neutral” rating to an “overweight” rating in a research report issued on Friday, The Fly reports.
A number of other equities research analysts have also weighed in on the company. Benchmark boosted their price objective on Mellanox Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday. ValuEngine upgraded Mellanox Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. TheStreet upgraded Mellanox Technologies from a “c+” rating to an “a” rating in a research report on Tuesday, April 17th. Barclays restated a “buy” rating and set a $97.00 price objective on shares of Mellanox Technologies in a research report on Wednesday, April 18th. Finally, Credit Suisse Group boosted their price objective on Mellanox Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. Mellanox Technologies presently has an average rating of “Buy” and an average target price of $82.45.
Shares of MLNX stock opened at $87.05 on Friday. The firm has a market cap of $4.43 billion, a P/E ratio of 95.66, a PEG ratio of 1.95 and a beta of 0.55. Mellanox Technologies has a twelve month low of $83.30 and a twelve month high of $84.95.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Tuesday, April 17th. The semiconductor producer reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $244.93 million. Mellanox Technologies had a return on equity of 8.00% and a net margin of 3.31%. Mellanox Technologies’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. analysts forecast that Mellanox Technologies will post 2.9 earnings per share for the current fiscal year.
In other news, CFO Yakov (Jacob) Shulman sold 4,156 shares of the business’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $78.14, for a total value of $324,749.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael Kagan sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $69.00, for a total value of $172,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,456 shares of company stock worth $995,800 over the last ninety days. Company insiders own 4.30% of the company’s stock.
Several large investors have recently made changes to their positions in MLNX. Advisor Group Inc. lifted its stake in shares of Mellanox Technologies by 294.2% in the 4th quarter. Advisor Group Inc. now owns 1,573 shares of the semiconductor producer’s stock valued at $101,000 after purchasing an additional 1,174 shares during the period. Massey Quick Simon & CO. LLC lifted its stake in shares of Mellanox Technologies by 100.0% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 1,398 shares of the semiconductor producer’s stock valued at $102,000 after purchasing an additional 699 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Mellanox Technologies by 404.3% in 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. Public Employees Retirement Association of Colorado acquired a new position in shares of Mellanox Technologies in the 4th quarter valued at about $166,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Mellanox Technologies by 36.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,955 shares of the semiconductor producer’s stock valued at $191,000 after purchasing an additional 788 shares during the period. 69.42% of the stock is currently owned by institutional investors.
Mellanox Technologies Company Profile
Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, and sells interconnect products and solutions worldwide. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment, and other embedded systems. The company offers InfiniBand solutions, including switch and gateway integrated circuits (ICs), adapter cards, cables, modules, and software, as well as switch, gateway, and long-haul systems; Ethernet solutions, such as Ethernet switch products and Ethernet adapters for use in enterprise data center, high-performance computing, embedded environments, hyperscale, Web 2.0, and cloud data centers.
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