Mellanox Technologies Ltd. (NASDAQ:MLNX) shares dropped 8.1% on Thursday . The stock traded as low as $46.26 and last traded at $47.08, with a volume of 2,285,791 shares traded. The stock had previously closed at $51.24.

Several research analysts have recently commented on MLNX shares. Vetr lowered Mellanox Technologies from a “strong-buy” rating to a “buy” rating and set a $60.24 price target for the company. in a research report on Wednesday, March 23rd. Macquarie raised their price target on Mellanox Technologies from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, March 24th. Zacks Investment Research lowered Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research report on Saturday, April 2nd. DA Davidson restated a “buy” rating and set a $73.00 price target (up from $60.00) on shares of Mellanox Technologies in a research report on Thursday, April 7th. Finally, FBN Securities lowered their price target on Mellanox Technologies from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Thursday, April 21st. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $62.83.

The company’s 50 day moving average is $48.80 and its 200 day moving average is $47.22. The stock has a market cap of $2.21 billion and a P/E ratio of 29.56.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. The company earned $214.80 million during the quarter, compared to analyst estimates of $212.79 million. During the same quarter in the prior year, the business earned $0.75 earnings per share. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. Equities research analysts forecast that Mellanox Technologies Ltd. will post $3.56 EPS for the current fiscal year.

In other news, Chairman Irwin Federman sold 25,000 shares of Mellanox Technologies stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $45.54, for a total transaction of $1,138,500.00. Following the sale, the chairman now directly owns 31,133 shares in the company, valued at approximately $1,417,796.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Yakov (Jacob) Shulman sold 2,813 shares of Mellanox Technologies stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $43.73, for a total transaction of $123,012.49. Following the sale, the chief financial officer now owns 40,900 shares in the company, valued at $1,788,557. The disclosure for this sale can be found here.

Several hedge funds have modified their holdings of the stock. Airain ltd acquired a new stake in shares of Mellanox Technologies during the fourth quarter valued at $1,899,000. Trexquant Investment LP raised its stake in shares of Mellanox Technologies by 17.4% in the fourth quarter. Trexquant Investment LP now owns 57,290 shares of the company’s stock valued at $2,414,000 after buying an additional 8,490 shares during the period. Globeflex Capital L P acquired a new stake in shares of Mellanox Technologies during the fourth quarter valued at $6,511,000. Morgan Stanley raised its stake in shares of Mellanox Technologies by 51.9% in the fourth quarter. Morgan Stanley now owns 391,558 shares of the company’s stock valued at $16,500,000 after buying an additional 133,706 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Mellanox Technologies during the fourth quarter valued at $1,124,000.

Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company designs, manufactures and sells interconnect products and solutions primarily based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment.

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