Mellanox Technologies, Ltd. (MLNX) Price Target Increased to $69.00 by Analysts at DA Davidson

Mellanox Technologies, Ltd. (NASDAQ:MLNX) had its price target upped by investment analysts at DA Davidson to $69.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “buy” rating on the semiconductor producer’s stock. DA Davidson’s price target points to a potential upside of 22.12% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. BidaskClub upgraded Mellanox Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Benchmark Co. assumed coverage on Mellanox Technologies in a research note on Tuesday, August 29th. They set a “buy” rating and a $60.00 target price for the company. Jefferies Group LLC reaffirmed a “sell” rating and set a $38.00 target price on shares of Mellanox Technologies in a research note on Sunday, September 10th. TheStreet cut Mellanox Technologies from a “b-” rating to a “c” rating in a research note on Friday, August 11th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Mellanox Technologies in a research note on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $52.80.

Mellanox Technologies (NASDAQ:MLNX) opened at $56.50 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.12 and a quick ratio of 2.78. The company has a market capitalization of $2,599.92, a PE ratio of 54.31, a price-to-earnings-growth ratio of 3.53 and a beta of 0.54. Mellanox Technologies has a 1 year low of $38.75 and a 1 year high of $58.35.

Mellanox Technologies (NASDAQ:MLNX) last posted its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, beating the consensus estimate of $0.64 by $0.07. The firm had revenue of $225.70 million during the quarter, compared to the consensus estimate of $226.74 million. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $0.93 earnings per share. equities research analysts anticipate that Mellanox Technologies will post 0.83 EPS for the current fiscal year.

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In related news, VP Michael Kagan sold 5,000 shares of Mellanox Technologies stock in a transaction on Monday, August 28th. The stock was sold at an average price of $45.01, for a total transaction of $225,050.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dov Baharav sold 20,000 shares of Mellanox Technologies stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $49.50, for a total value of $990,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 217,478 shares of company stock worth $10,666,642. 6.05% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors raised its stake in shares of Mellanox Technologies by 29.8% in the second quarter. Capital Research Global Investors now owns 2,139,726 shares of the semiconductor producer’s stock valued at $92,650,000 after buying an additional 490,726 shares during the period. Menora Mivtachim Holdings LTD. raised its stake in shares of Mellanox Technologies by 36.2% in the third quarter. Menora Mivtachim Holdings LTD. now owns 1,834,105 shares of the semiconductor producer’s stock valued at $86,478,000 after buying an additional 487,000 shares during the period. Ion Asset Management Ltd. raised its stake in shares of Mellanox Technologies by 9.1% in the second quarter. Ion Asset Management Ltd. now owns 1,247,141 shares of the semiconductor producer’s stock valued at $54,001,000 after buying an additional 104,014 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Mellanox Technologies by 15.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,185,765 shares of the semiconductor producer’s stock valued at $55,909,000 after buying an additional 156,119 shares during the period. Finally, Senvest Management LLC raised 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 during the period. Hedge funds and other institutional investors own 59.72% 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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