Analysts’ Recent Ratings Changes for Mellanox Technologies (MLNX)

Mellanox Technologies (NASDAQ: MLNX) has recently received a number of price target changes and ratings updates:

  • 4/3/2019 – Mellanox Technologies was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 4/1/2019 – Mellanox Technologies was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Mellanox is a fabless semiconductor company that develops high-speed interconnects solutions. The company is benefiting from robust demand for ethernet adapters, switches and LinkX cables. Solid demand of its Gigabit EDR solutions in machine learning, artificial intelligence, high-performance computing, database, storage and more bode well. Further, robust demand for Mellanox’s InfiniBand solutions is a key catalyst. Mellanox has also won several contracts from the likes of NetApp, the University of Toronto and NASA Ames Research Center, which reflects sturdy demand for its solutions. Recently, NVIDIA inked a definitive agreement to acquire Mellanox for a total enterprise value of around $6.9 billion. Notably, shares of Mellanox have outperformed the industry in the past year. However, exposure to foreign currency, stiff competition & customer concentration remain headwinds.”
  • 3/29/2019 – Mellanox Technologies was downgraded by analysts at Jefferies Financial Group Inc from a “buy” rating to a “hold” rating. They now have a $125.00 price target on the stock, down previously from $130.00.
  • 3/27/2019 – Mellanox Technologies was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 3/20/2019 – Mellanox Technologies was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 3/14/2019 – Mellanox Technologies was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $117.95 price target on the stock.
  • 3/13/2019 – Mellanox Technologies was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 3/12/2019 – Mellanox Technologies was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating. They now have a $128.00 price target on the stock.
  • 3/12/2019 – Mellanox Technologies was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $125.00 price target on the stock, up previously from $108.00.
  • 3/11/2019 – Mellanox Technologies was downgraded by analysts at Susquehanna Bancshares Inc from a “positive” rating to a “neutral” rating.
  • 3/11/2019 – Mellanox Technologies was downgraded by analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating.
  • 2/27/2019 – Mellanox Technologies was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of MLNX traded down $0.14 during trading hours on Monday, hitting $119.13. The stock had a trading volume of 23,597 shares, compared to its average volume of 1,175,817. Mellanox Technologies, Ltd. has a 12 month low of $65.68 and a 12 month high of $119.40. The firm has a market capitalization of $6.47 billion, a P/E ratio of 30.94, a PEG ratio of 1.33 and a beta of 0.30.

Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, January 30th. The semiconductor producer reported $1.42 EPS for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $284.96 million. During the same quarter in the previous year, the company posted $0.82 earnings per share. Mellanox Technologies’s revenue was up 22.1% compared to the same quarter last year. On average, research analysts anticipate that Mellanox Technologies, Ltd. will post 4.82 earnings per share for the current fiscal year.

In other Mellanox Technologies news, Director Glenda Dorchak sold 4,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $118.30, for a total transaction of $473,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amal M. Johnson sold 5,714 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were 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. Insiders own 4.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Havens Advisors LLC purchased a new position in shares of Mellanox Technologies in the first quarter valued at about $7,812,000. Calamos Advisors LLC purchased a new position in shares of Mellanox Technologies in the first quarter valued at about $509,000. Geode Capital Management LLC lifted its position in shares of Mellanox Technologies by 11.2% in the fourth quarter. Geode Capital Management LLC now owns 43,355 shares of the semiconductor producer’s stock valued at $4,004,000 after acquiring an additional 4,363 shares in the last quarter. Norges Bank purchased a new position in shares of Mellanox Technologies in the fourth quarter valued at about $49,296,000. Finally, FMR LLC lifted its position in shares of Mellanox Technologies by 65.1% in the fourth quarter. FMR LLC now owns 456,324 shares of the semiconductor producer’s stock valued at $42,155,000 after acquiring an additional 179,848 shares in the last quarter. 77.93% of the stock is owned by institutional investors and hedge funds.

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.

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