Mellanox Technologies, Ltd. (MLNX) Receives Average Rating of “Hold” from Analysts
Mellanox Technologies, Ltd. (NASDAQ:MLNX) has received a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $49.67.
Several equities analysts have commented on MLNX shares. Piper Jaffray Companies downgraded shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating and set a $48.00 price target for the company. in a research note on Thursday, April 27th. Credit Suisse Group AG downgraded shares of Mellanox Technologies from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $50.00 to $45.00 in a research note on Thursday, April 27th. Roth Capital downgraded shares of Mellanox Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $60.00 to $53.00 in a research note on Thursday, April 27th. Zacks Investment Research downgraded shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Finally, Jefferies Group LLC dropped their price target on shares of Mellanox Technologies from $41.00 to $38.00 and set an “underperform” rating for the company in a research note on Friday, April 28th.
In other Mellanox Technologies news, CFO Yakov (Jacob) Shulman sold 2,407 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.00, for a total value of $113,129.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shai Cohen sold 12,546 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $47.00, for a total transaction of $589,662.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,953 shares of company stock valued at $3,060,791. Insiders own 6.05% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC bought a new position in Mellanox Technologies during the second quarter valued at about $106,000. SG Americas Securities LLC bought a new position in Mellanox Technologies during the second quarter valued at about $122,000. First Interstate Bank bought a new position in Mellanox Technologies during the first quarter valued at about $159,000. First Mercantile Trust Co. bought a new position in Mellanox Technologies during the first quarter valued at about $174,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Mellanox Technologies during the first quarter valued at about $186,000. Institutional investors own 66.10% of the company’s stock.
Shares of Mellanox Technologies (MLNX) traded up 0.23% during mid-day trading on Tuesday, reaching $44.15. The company’s stock had a trading volume of 188,419 shares. The stock has a market cap of $2.22 billion, a P/E ratio of 6307.14 and a beta of 0.68. The stock has a 50 day moving average of $44.62 and a 200-day moving average of $47.31. Mellanox Technologies has a one year low of $38.75 and a one year high of $52.79.
Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $212 million during the quarter, compared to analysts’ expectations of $209.62 million. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.93%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 EPS. On average, equities research analysts expect that Mellanox Technologies will post $2.14 EPS for the current fiscal year.
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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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