BidaskClub upgraded shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) from a sell rating to a hold rating in a research note published on Tuesday, August 1st.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Mellanox Technologies from a hold rating to a strong sell rating in a research report on Wednesday, May 3rd. Piper Jaffray Companies lowered shares of Mellanox Technologies from an overweight rating to a neutral rating and set a $48.00 price objective on the stock. in a research report on Thursday, April 27th. Jefferies Group LLC lowered their price objective on shares of Mellanox Technologies from $41.00 to $38.00 and set an underperform rating on the stock in a research report on Friday, April 28th. Credit Suisse Group lowered shares of Mellanox Technologies from an outperform rating to a neutral rating and lowered their price objective for the company from $50.00 to $45.00 in a research report on Thursday, April 27th. Finally, Roth Capital lowered shares of Mellanox Technologies from a buy rating to a neutral rating and decreased their target price for the stock from $60.00 to $53.00 in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $49.86.
Shares of Mellanox Technologies (MLNX) opened at 43.25 on Tuesday. The stock has a 50 day moving average of $44.67 and a 200 day moving average of $47.23. Mellanox Technologies has a 12-month low of $38.75 and a 12-month high of $52.79. The stock has a market capitalization of $2.17 billion, a P/E ratio of 6178.57 and a beta of 0.68.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.93%. The firm had revenue of $212 million during the quarter, compared to analysts’ expectations of $209.62 million. During the same quarter last year, the business earned $0.87 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. Equities research analysts anticipate that Mellanox Technologies will post $2.14 EPS for the current fiscal year.
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In other news, CFO Yakov (Jacob) Shulman sold 2,407 shares of Mellanox Technologies stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.00, for a total transaction of $113,129.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shai Cohen sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total transaction of $2,358,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 64,953 shares of company stock worth $3,060,791 over the last 90 days. 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. Chicago Partners Investment Group LLC purchased a new position in shares of Mellanox Technologies during the second quarter valued at $106,000. SG Americas Securities LLC purchased a new position in shares of Mellanox Technologies during the second quarter valued at $122,000. 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. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Mellanox Technologies during the first quarter valued at $186,000. 66.10% 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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