Mellanox Technologies (MLNX) Stock Rating Upgraded by BidaskClub

Mellanox Technologies (NASDAQ:MLNX) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday.

MLNX has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Stifel Nicolaus cut their target price on shares of Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. DA Davidson lifted their target price on shares of Mellanox Technologies from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Barclays raised shares of Mellanox Technologies from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $47.00 to $55.00 in a research note on Tuesday, November 28th. Finally, J P Morgan Chase & Co lowered shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $52.33.

Shares of Mellanox Technologies (NASDAQ MLNX) opened at $59.35 on Tuesday. The stock has a market cap of $2,966.60, a price-to-earnings ratio of 61.97, a price-to-earnings-growth ratio of 4.03 and a beta of 0.64. Mellanox Technologies has a twelve month low of $39.70 and a twelve month high of $62.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.12 and a quick ratio of 2.78.

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

In related news, CFO Yakov (Jacob) Shulman sold 2,706 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $46.32, for a total transaction of $125,341.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eyal Waldman sold 121,772 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $50.00, for a total transaction of $6,088,600.00. The disclosure for this sale can be found here. Insiders have sold 237,628 shares of company stock worth $11,900,567 in the last three months. 6.05% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its holdings in Mellanox Technologies by 15.8% in the third quarter. Sterling Capital Management LLC now owns 31,637 shares of the semiconductor producer’s stock worth $1,492,000 after buying an additional 4,323 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in Mellanox Technologies by 9.4% in the third quarter. Neuberger Berman Group LLC now owns 947,429 shares of the semiconductor producer’s stock worth $44,671,000 after buying an additional 81,664 shares during the last quarter. California Public Employees Retirement System raised its holdings in Mellanox Technologies by 4.8% in the third quarter. California Public Employees Retirement System now owns 99,332 shares of the semiconductor producer’s stock worth $4,684,000 after buying an additional 4,532 shares during the last quarter. Granahan Investment Management Inc. MA raised its holdings in Mellanox Technologies by 8.8% in the third quarter. Granahan Investment Management Inc. MA now owns 81,600 shares of the semiconductor producer’s stock worth $3,847,000 after buying an additional 6,567 shares during the last quarter. Finally, Senvest Management LLC raised its holdings in Mellanox Technologies by 27.5% in the third quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock worth $51,257,000 after buying an additional 234,424 shares during the last quarter. 60.84% of the stock is currently owned by institutional investors and hedge funds.

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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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