Mellanox Technologies, Ltd. (MLNX) Given Average Recommendation of “Buy” by Analysts

Mellanox Technologies, Ltd. (NASDAQ:MLNX) has been given a consensus rating of “Buy” by the sixteen research firms that are currently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $112.00.

A number of analysts have recently issued reports on the company. BidaskClub raised Mellanox Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 13th. DA Davidson lowered Mellanox Technologies from a “buy” rating to a “neutral” rating and set a $128.00 target price on the stock. in a research note on Tuesday, March 12th. Susquehanna Bancshares lowered Mellanox Technologies from a “positive” rating to a “neutral” rating in a research note on Monday, March 11th. Barclays lowered Mellanox Technologies from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $108.00 to $125.00 in a research note on Tuesday, March 12th. Finally, Zacks Investment Research upgraded Mellanox Technologies from a “hold” rating to a “strong-buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, January 30th.

In other Mellanox Technologies news, Director Glenda Dorchak sold 4,576 shares of the firm’s stock in a transaction on Friday, January 4th. The stock was sold at an average price of $85.00, for a total transaction of $388,960.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Amal M. Johnson sold 5,714 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $95.49, for a total value of $545,629.86. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in Mellanox Technologies by 11.2% during the 4th quarter. Geode Capital Management LLC now owns 43,355 shares of the semiconductor producer’s stock worth $4,004,000 after acquiring an additional 4,363 shares during the period. Norges Bank bought a new position in Mellanox Technologies during the 4th quarter worth $49,296,000. FMR LLC increased its stake in Mellanox Technologies by 65.1% during the 4th quarter. FMR LLC now owns 456,324 shares of the semiconductor producer’s stock worth $42,155,000 after acquiring an additional 179,848 shares during the period. Nordea Investment Management AB increased its stake in Mellanox Technologies by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 42,800 shares of the semiconductor producer’s stock worth $3,954,000 after acquiring an additional 400 shares during the period. Finally, APG Asset Management N.V. bought a new position in Mellanox Technologies during the 4th quarter worth $566,000. Hedge funds and other institutional investors own 76.94% of the company’s stock.

Shares of MLNX traded down $0.06 during mid-day trading on Wednesday, reaching $117.72. The company’s stock had a trading volume of 74,297 shares, compared to its average volume of 2,780,785. Mellanox Technologies has a 1-year low of $65.68 and a 1-year high of $119.10. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 1.31 and a beta of 0.29.

Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings data on Wednesday, January 30th. The semiconductor producer reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.12. Mellanox Technologies had a return on equity of 16.53% and a net margin of 12.33%. The company had revenue of $290.07 million during the quarter, compared to analysts’ expectations of $284.96 million. During the same period last year, the firm posted $0.82 earnings per share. The business’s revenue was up 22.1% on a year-over-year basis. As a group, analysts forecast that Mellanox Technologies will post 4.82 earnings per share for the current year.

Mellanox Technologies Company Profile

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, and sells interconnect products and solutions worldwide. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment, and other embedded systems. The company offers InfiniBand solutions, including switch and gateway integrated circuits (ICs), adapter cards, cables, modules, and software, as well as switch, gateway, and long-haul systems; Ethernet solutions, such as Ethernet switch products and Ethernet adapters for use in enterprise data center, high-performance computing, embedded environments, hyperscale, Web 2.0, and cloud data centers.

See Also: Producer Price Index (PPI)

Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

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