Stifel Nicolaus downgraded shares of Mellanox Technologies (NASDAQ:MLNX) from a buy rating to a hold rating in a research note released on Thursday morning, Marketbeat Ratings reports. They currently have $117.95 target price on the semiconductor producer’s stock.

A number of other research analysts have also recently commented on the stock. DA Davidson upped their target price on shares of Mellanox Technologies to $124.00 and gave the company a buy rating in a research report on Monday, January 28th. BidaskClub cut shares of Mellanox Technologies from a hold rating to a sell rating in a research report on Thursday, January 24th. Jefferies Financial Group upped their target price on shares of Mellanox Technologies from $110.00 to $130.00 and gave the company a buy rating in a research report on Monday, December 3rd. Zacks Investment Research cut shares of Mellanox Technologies from a buy rating to a hold rating in a research report on Monday, December 31st. Finally, Piper Jaffray Companies cut shares of Mellanox Technologies from an overweight rating to a neutral rating in a research report on Monday. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $110.00.

Shares of MLNX stock traded down $0.04 on Thursday, hitting $117.98. 154,736 shares of the stock traded hands, compared to its average volume of 1,757,680. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 1.32 and a beta of 0.29. Mellanox Technologies has a twelve month low of $65.68 and a twelve month high of $119.10.

Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Wednesday, January 30th. The semiconductor producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.12. The firm had revenue of $290.07 million for the quarter, compared to analysts’ expectations of $284.96 million. Mellanox Technologies had a net margin of 12.33% and a return on equity of 16.53%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. On average, analysts expect that Mellanox Technologies will post 4.82 EPS for the current fiscal year.

In other Mellanox Technologies news, Director Glenda Dorchak sold 4,576 shares of the stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $85.00, for a total value of $388,960.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Amal M. Johnson sold 5,714 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $95.49, for a total transaction of $545,629.86. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Senvest Management LLC increased its stake in Mellanox Technologies by 16.3% in the third quarter. Senvest Management LLC now owns 1,986,776 shares of the semiconductor producer’s stock valued at $145,929,000 after purchasing an additional 279,057 shares during the last quarter. Vanguard Group Inc. increased its stake in Mellanox Technologies by 38.6% in the third quarter. Vanguard Group Inc. now owns 520,710 shares of the semiconductor producer’s stock valued at $38,247,000 after purchasing an additional 145,078 shares during the last quarter. Icon Advisers Inc. Co. increased its stake in Mellanox Technologies by 18.1% in the fourth quarter. Icon Advisers Inc. Co. now owns 11,100 shares of the semiconductor producer’s stock valued at $1,025,000 after purchasing an additional 1,700 shares during the last quarter. Gideon Capital Advisors Inc. purchased a new position in Mellanox Technologies in the third quarter valued at approximately $524,000. Finally, Navellier & Associates Inc increased its stake in Mellanox Technologies by 24.7% in the fourth quarter. Navellier & Associates Inc now owns 29,396 shares of the semiconductor producer’s stock valued at $2,716,000 after purchasing an additional 5,814 shares during the last quarter. Institutional investors own 78.36% of the company’s stock.

About Mellanox Technologies

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, and sells interconnect products and solutions worldwide. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment, and other embedded systems. The company offers InfiniBand solutions, including switch and gateway integrated circuits (ICs), adapter cards, cables, modules, and software, as well as switch, gateway, and long-haul systems; Ethernet solutions, such as Ethernet switch products and Ethernet adapters for use in enterprise data center, high-performance computing, embedded environments, hyperscale, Web 2.0, and cloud data centers.

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Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

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