Mellanox Technologies Ltd. (NASDAQ:MLNX) shares saw unusually-high trading volume on Friday . Approximately 1,225,275 shares changed hands during trading, an increase of 57% from the previous session’s volume of 778,347 shares.The stock last traded at $45.61 and had previously closed at $46.47.

MLNX has been the subject of a number of analyst reports. DA Davidson reiterated a “buy” rating and set a $73.00 price objective (up from $60.00) on shares of Mellanox Technologies in a report on Thursday, April 7th. Zacks Investment Research upgraded shares of Mellanox Technologies from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, April 5th. Macquarie restated a “buy” rating on shares of Mellanox Technologies in a report on Sunday, March 27th. Brean Capital began coverage on shares of Mellanox Technologies in a report on Monday, May 9th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Summit Research restated a “buy” rating and set a $65.00 price target on shares of Mellanox Technologies in a report on Wednesday, June 22nd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Mellanox Technologies presently has an average rating of “Buy” and a consensus target price of $62.83.

The firm has a 50 day moving average price of $48.73 and a 200-day moving average price of $47.25. The stock has a market cap of $2.18 billion and a price-to-earnings ratio of 36.14.

Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. During the same quarter in the prior year, the business posted $0.75 earnings per share. The firm had revenue of $214.80 million for the quarter, compared to the consensus estimate of $212.79 million. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, equities research analysts forecast that Mellanox Technologies Ltd. will post $3.58 earnings per share for the current fiscal year.

In other Mellanox Technologies news, VP Marc Sultzbaugh sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $49.05, for a total transaction of $245,250.00. Following the completion of the sale, the vice president now directly owns 73,937 shares in the company, valued at approximately $3,626,609.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Irwin Federman sold 25,000 shares of the firm’s 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 owns 31,133 shares of the company’s stock, valued at $1,417,796.82. The disclosure for this sale can be found here.

Other hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new stake in Mellanox Technologies during the fourth quarter worth $1,124,000. Nationwide Fund Advisors bought a new stake in shares of Mellanox Technologies during the fourth quarter worth about $1,323,000. Airain ltd bought a new stake in shares of Mellanox Technologies during the fourth quarter worth about $1,899,000. Trexquant Investment LP increased 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 worth $2,414,000 after buying an additional 8,490 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Mellanox Technologies by 3.3% in the fourth quarter. California Public Employees Retirement System now owns 125,900 shares of the company’s stock worth $5,305,000 after buying an additional 4,000 shares during the last quarter.

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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