Stifel Nicolaus Increases Mellanox Technologies (MLNX) Price Target to $70.00

Mellanox Technologies (NASDAQ:MLNX) had its price target lifted by stock analysts at Stifel Nicolaus from $53.00 to $70.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the semiconductor producer’s stock. Stifel Nicolaus’ price target points to a potential upside of 17.94% from the stock’s current price.

A number of other equities research analysts have also issued reports on MLNX. BidaskClub lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. TheStreet lowered shares of Mellanox Technologies from a “b-” rating to a “c” rating in a report on Friday, August 11th. Benchmark started coverage on shares of Mellanox Technologies in a report on Tuesday, August 29th. They set a “buy” rating and a $60.00 target price for the company. KeyCorp reaffirmed a “hold” rating on shares of Mellanox Technologies in a report on Friday, September 1st. Finally, Jefferies Group reaffirmed a “sell” rating and set a $38.00 target price on shares of Mellanox Technologies in a report on Sunday, September 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $54.22.

Mellanox Technologies (MLNX) opened at $59.35 on Thursday. Mellanox Technologies has a 12-month low of $39.70 and a 12-month high of $62.00. The firm 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. The company has a current ratio of 3.12, a quick ratio of 2.78 and a debt-to-equity ratio of 0.17.

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

In related news, VP Michael Kagan sold 2,293 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $59.00, for a total value of $135,287.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Yakov (Jacob) Shulman sold 2,706 shares of the company’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 disclosure for this sale can be found here. Insiders sold 237,628 shares of company stock valued at $11,900,567 in the last three months. 6.05% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Mellanox Technologies during the second quarter worth about $122,000. Legal & General Group Plc boosted its stake in Mellanox Technologies by 4.6% during the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock worth $194,000 after buying an additional 199 shares during the period. Juncture Wealth Strategies LLC purchased a new position in Mellanox Technologies during the third quarter worth about $222,000. Dynamic Technology Lab Private Ltd purchased a new position in Mellanox Technologies during the second quarter worth about $259,000. Finally, Sciencast Management LP purchased a new position in Mellanox Technologies during the second quarter worth about $333,000. 60.84% of the stock is owned by hedge funds and other institutional investors.

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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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