DA Davidson reaffirmed their buy rating on shares of Mellanox Technologies (NASDAQ:MLNX) in a research report sent to investors on Monday morning. The firm currently has a $80.00 target price on the semiconductor producer’s stock.

Several other research firms also recently issued reports on MLNX. Zacks Investment Research upgraded Mellanox Technologies from a strong sell rating to a hold rating in a research report on Wednesday, November 1st. Barclays downgraded Mellanox Technologies from an overweight rating to an underweight rating and dropped their target price for the stock from $50.00 to $48.00 in a research report on Monday, October 9th. Stifel Nicolaus lowered their price objective 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. KeyCorp reiterated a hold rating on shares of Mellanox Technologies in a research report on Tuesday, October 17th. Finally, Piper Jaffray Companies reiterated a hold rating and issued a $73.00 price objective on shares of Mellanox Technologies in a research report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $65.80.

Mellanox Technologies (MLNX) traded up $1.15 during trading hours on Monday, hitting $66.90. The company’s stock had a trading volume of 1,934,700 shares, compared to its average volume of 756,643. The stock has a market capitalization of $3,380.00, a P/E ratio of -171.54, a P/E/G ratio of 2.30 and a beta of 0.62. Mellanox Technologies has a 12-month low of $40.70 and a 12-month high of $69.00. The company has a current ratio of 3.12, a quick ratio of 2.78 and a debt-to-equity ratio of 0.17.

Mellanox Technologies (NASDAQ:MLNX) last posted its earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.14. The firm had revenue of $237.60 million for the quarter, compared to the consensus estimate of $235.43 million. Mellanox Technologies had a positive return on equity of 4.81% and a negative net margin of 2.25%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 earnings per share. equities analysts forecast that Mellanox Technologies will post 1.78 earnings per share for the current year.

In other news, CFO Yakov (Jacob) Shulman sold 2,706 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $46.32, for a total transaction of $125,341.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Michael Kagan sold 2,293 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $59.00, for a total value of $135,287.00. The disclosure for this sale can be found here. Insiders sold 260,718 shares of company stock worth $13,455,300 in the last quarter. 6.05% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of Mellanox Technologies by 404.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,765 shares of the semiconductor producer’s stock valued at $114,000 after buying an additional 1,415 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Mellanox Technologies during the second quarter worth about $122,000. Legal & General Group Plc boosted its holdings in shares of Mellanox Technologies by 4.6% during the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock worth $194,000 after purchasing an additional 199 shares during the period. Juncture Wealth Strategies LLC purchased a new stake in shares of Mellanox Technologies during the third quarter worth about $222,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Mellanox Technologies during the second quarter worth about $259,000. 60.70% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

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