Mellanox Technologies, Ltd. (MLNX) Stock Rating Reaffirmed by Jefferies Group LLC
Mellanox Technologies, Ltd. (NASDAQ:MLNX)‘s stock had its “sell” rating reiterated by equities researchers at Jefferies Group LLC in a research report issued to clients and investors on Sunday. They presently have a $38.00 price target on the semiconductor producer’s stock. Jefferies Group LLC’s target price would suggest a potential downside of 18.63% from the company’s current price.
MLNX has been the topic of several other research reports. Piper Jaffray Companies reissued a “hold” rating and set a $47.00 target price on shares of Mellanox Technologies in a research report on Friday, July 28th. BidaskClub lowered Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. TheStreet lowered Mellanox Technologies from a “b-” rating to a “c” rating in a research report on Friday, August 11th. Barclays PLC reissued a “buy” rating and set a $50.00 target price (down previously from $54.00) on shares of Mellanox Technologies in a research report on Thursday, July 27th. Finally, Benchmark Co. assumed coverage on Mellanox Technologies in a research note on Tuesday, August 29th. They set a “buy” rating and a $60.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Mellanox Technologies presently has an average rating of “Hold” and a consensus price target of $51.13.
Shares of Mellanox Technologies (NASDAQ MLNX) opened at 46.70 on Friday. Mellanox Technologies has a 52 week low of $38.75 and a 52 week high of $52.79. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 6671.43 and a beta of 0.65. The stock’s 50 day moving average price is $45.26 and its 200-day moving average price is $47.07.
Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by $0.01. Mellanox Technologies had a return on equity of 5.93% and a net margin of 0.09%. The business had revenue of $212 million for the quarter, compared to analyst estimates of $209.62 million. During the same period last year, the business posted $0.87 EPS. Mellanox Technologies’s revenue was down 1.3% on a year-over-year basis. Equities analysts anticipate that Mellanox Technologies will post $2.14 earnings per share for the current fiscal year.
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In other Mellanox Technologies news, VP Michael Kagan sold 5,000 shares of Mellanox Technologies stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $45.01, for a total value of $225,050.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Yakov (Jacob) Shulman sold 2,407 shares of Mellanox Technologies stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.00, for a total value of $113,129.00. The disclosure for this sale can be found here. Insiders have sold a total of 69,953 shares of company stock worth $3,285,841 in the last 90 days. 6.05% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Chicago Partners Investment Group LLC purchased a new position in shares of Mellanox Technologies in the 2nd quarter valued at approximately $106,000. SG Americas Securities LLC purchased a new position in shares of Mellanox Technologies in the 2nd quarter valued at approximately $122,000. First Interstate Bank purchased a new position in shares of Mellanox Technologies in the 1st quarter valued at approximately $159,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Mellanox Technologies in the 1st quarter valued at approximately $186,000. Finally, Legal & General Group Plc grew its stake in shares of Mellanox Technologies by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 61.58% of the company’s stock.
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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