Mellanox Technologies, Ltd. (NASDAQ:MLNX) Receives $51.50 Average PT from Analysts
Shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) have been given an average rating of “Hold” by the twelve analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $51.50.
Several equities research analysts have commented on the stock. BidaskClub upgraded shares of Mellanox Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Mellanox Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Jefferies Group LLC reaffirmed an “underperform” rating and set a $38.00 price target on shares of Mellanox Technologies in a research note on Tuesday, June 20th. Roth Capital downgraded Mellanox Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $60.00 to $53.00 in a research note on Thursday, April 27th. Finally, Credit Suisse Group downgraded Mellanox Technologies from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $50.00 to $45.00 in a research note on Thursday, April 27th.
Mellanox Technologies (NASDAQ MLNX) traded up 1.121% during trading on Friday, reaching $44.999. 361,593 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $44.65 and a 200 day moving average price of $47.15. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 171.752 and a beta of 0.68. Mellanox Technologies has a 52 week low of $38.75 and a 52 week high of $52.80.
Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Wednesday, April 26th. The semiconductor producer reported $0.29 EPS for the quarter, missing the consensus estimate of $0.49 by $0.20. The company had revenue of $188.65 million for the quarter, compared to analysts’ expectations of $204.70 million. Mellanox Technologies had a return on equity of 8.12% and a net margin of 1.58%. Mellanox Technologies’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. Equities research analysts forecast that Mellanox Technologies will post $2.34 earnings per share for the current fiscal year.
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In related news, VP Michael Kagan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $47.50, for a total value of $237,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.05% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Interstate Bank purchased a new position in shares of Mellanox Technologies during the first quarter valued at $159,000. First Mercantile Trust Co. purchased a new position in shares of Mellanox Technologies during the first quarter valued at $174,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Mellanox Technologies during the first quarter valued at $186,000. Wexford Capital LP purchased a new position in shares of Mellanox Technologies during the first quarter valued at $204,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Mellanox Technologies during the first quarter valued at $236,000. 67.70% of the stock is owned by hedge funds and other institutional investors.
Mellanox Technologies Company Profile
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company is an integrated supplier of interconnect products and solutions based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.
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