Mellanox Technologies (MLNX) Upgraded to “Strong-Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Mellanox Technologies (NASDAQ:MLNX) from a hold rating to a strong-buy rating in a report published on Wednesday. They currently have $74.00 price target on the semiconductor producer’s stock.
According to Zacks, “MELLANOX TECHNOLOGIES is a leading supplier of semiconductor-based, interconnect products to world-class server, storage, and infrastructure OEMs servicing Fortune 500 data centers, the world’s most powerful supercomputers, and mission critical embedded applications. The company’s Virtual Protocol Interconnect enables standard communication protocols to operate over any converged network (InfiniBand, Ethernet, Data Center Ethernet) with the same software solution. Utilizing proven networking, clustering, storage, virtualization and RDMA acceleration engines, VPI optimizes application performance, power consumption, workload agility, and total system efficiency while future-proofing IT infrastructure. “
Other research analysts have also issued research reports about the company. DA Davidson lifted their price target on Mellanox Technologies from $60.00 to $69.00 and gave the stock a buy rating in a research report on Wednesday, November 22nd. Stifel Nicolaus cut their price target on Mellanox Technologies from $56.00 to $53.00 and set a buy rating on the stock in a research report on Thursday, October 26th. Benchmark started coverage on Mellanox Technologies in a research report on Tuesday, August 29th. They set a buy rating and a $60.00 price target on the stock. BidaskClub raised Mellanox Technologies from a hold rating to a buy rating in a research report on Tuesday, December 5th. Finally, Longbow Research raised Mellanox Technologies from a neutral rating to a buy rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $58.60.
Mellanox Technologies (NASDAQ MLNX) opened at $64.40 on Wednesday. The company has a market capitalization of $3,280.00, a P/E ratio of -402.50, a price-to-earnings-growth ratio of 4.77 and a beta of 0.64. Mellanox Technologies has a 12-month low of $40.20 and a 12-month high of $64.75. 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 released its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, topping the 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 return on equity of 1.34% and a net margin of 1.51%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. equities analysts expect that Mellanox Technologies will post 0.84 EPS for the current year.
In related news, CFO Yakov (Jacob) Shulman sold 2,706 shares of Mellanox Technologies stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $46.32, for a total value of $125,341.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eyal Waldman sold 12,500 shares of Mellanox Technologies stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $59.49, for a total value of $743,625.00. The disclosure for this sale can be found here. In the last three months, insiders sold 235,128 shares of company stock worth $11,784,167. Corporate insiders own 6.05% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its stake in shares of Mellanox Technologies by 15.8% in the third quarter. Sterling Capital Management LLC now owns 31,637 shares of the semiconductor producer’s stock valued at $1,492,000 after buying an additional 4,323 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Mellanox Technologies by 9.4% in the third quarter. Neuberger Berman Group LLC now owns 947,429 shares of the semiconductor producer’s stock valued at $44,671,000 after buying an additional 81,664 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Mellanox Technologies by 4.8% in the third quarter. California Public Employees Retirement System now owns 99,332 shares of the semiconductor producer’s stock valued at $4,684,000 after buying an additional 4,532 shares in the last quarter. Granahan Investment Management Inc. MA boosted its stake in shares of Mellanox Technologies by 8.8% in the third quarter. Granahan Investment Management Inc. MA now owns 81,600 shares of the semiconductor producer’s stock valued at $3,847,000 after buying an additional 6,567 shares in the last quarter. Finally, Senvest Management LLC boosted its stake in shares of Mellanox Technologies by 27.5% in the third quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock valued at $51,257,000 after buying an additional 234,424 shares in the last quarter. Hedge funds and other institutional investors own 60.81% of the company’s stock.
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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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