Mellanox Technologies (MLNX) PT Raised to $75.00 at DA Davidson
Mellanox Technologies (NASDAQ:MLNX) had its price objective lifted by DA Davidson to $75.00 in a research report sent to investors on Friday morning, The Fly reports. DA Davidson currently has a buy rating on the semiconductor producer’s stock.
Several other brokerages have also issued reports on MLNX. Zacks Investment Research raised shares of Mellanox Technologies from a hold rating to a strong-buy rating and set a $74.00 price objective on the stock in a report on Wednesday, December 27th. Susquehanna Bancshares began coverage on shares of Mellanox Technologies in a report on Wednesday, December 13th. They issued a positive rating and a $75.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Mellanox Technologies from $53.00 to $70.00 and gave the stock a buy rating in a report on Thursday, December 7th. BidaskClub raised shares of Mellanox Technologies from a hold rating to a buy rating in a report on Tuesday, December 5th. Finally, Longbow Research raised shares of Mellanox Technologies from a neutral rating to a buy rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Mellanox Technologies presently has an average rating of Hold and a consensus price target of $59.20.
Mellanox Technologies (MLNX) opened at $66.30 on Friday. The company has a market cap of $3,376.58, a P/E ratio of -414.38, a PEG ratio of 2.32 and a beta of 0.62. Mellanox Technologies has a 1 year low of $40.70 and a 1 year high of $66.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.07. The company had revenue of $225.70 million for the quarter, compared to analyst estimates of $226.74 million. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. Mellanox Technologies’s revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share. research analysts anticipate that Mellanox Technologies will post 0.84 EPS for the current year.
In other news, Director Shai Cohen sold 50,000 shares of Mellanox Technologies stock in a transaction on Monday, October 30th. The shares were sold at an average price of $47.15, for a total transaction of $2,357,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eyal Waldman sold 121,772 shares of Mellanox Technologies stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $50.00, for a total transaction of $6,088,600.00. The disclosure for this sale can be found here. Insiders have sold 260,718 shares of company stock valued at $13,455,300 over the last quarter. Insiders own 6.05% of the company’s stock.
Large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Mellanox Technologies during the second quarter worth $122,000. Legal & General Group Plc lifted its position in Mellanox Technologies by 4.6% during the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after purchasing an additional 199 shares during the period. Juncture Wealth Strategies LLC acquired a new position in Mellanox Technologies during the third quarter valued at $222,000. Dynamic Technology Lab Private Ltd acquired a new position in Mellanox Technologies during the second quarter valued at $259,000. Finally, Sciencast Management LP acquired a new position in Mellanox Technologies during the second quarter valued at $333,000. Institutional investors and hedge funds own 60.81% of the company’s stock.
About Mellanox Technologies
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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