Mellanox Technologies (NASDAQ:MLNX) Reaches New 1-Year High at $122.20

Mellanox Technologies, Ltd. (NASDAQ:MLNX) hit a new 52-week high on Tuesday . The stock traded as high as $122.20 and last traded at $122.12, with a volume of 735323 shares. The stock had previously closed at $121.17.

A number of research analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a “hold” rating on shares of Mellanox Technologies in a report on Thursday, January 30th. Susquehanna Bancshares raised shares of Mellanox Technologies from a “neutral” rating to a “positive” rating and increased their target price for the company from $125.00 to $145.00 in a report on Tuesday. BidaskClub cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Zacks Investment Research cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating and set a $125.00 target price for the company. in a report on Thursday, December 5th. Finally, ValuEngine raised shares of Mellanox Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $130.14.

The firm’s 50-day moving average price is $119.61 and its 200 day moving average price is $113.87. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 0.88 and a beta of 0.51.

Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Wednesday, January 29th. The semiconductor producer reported $2.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.61. Mellanox Technologies had a net margin of 15.41% and a return on equity of 21.26%. The firm had revenue of $380.00 million for the quarter, compared to analyst estimates of $333.35 million. During the same quarter last year, the business earned $1.42 earnings per share. Mellanox Technologies’s revenue was up 31.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Mellanox Technologies, Ltd. will post 7.6 EPS for the current year.

In other Mellanox Technologies news, CFO Douglas T. Ahrens sold 2,930 shares of Mellanox Technologies stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $119.99, for a total value of $351,570.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Glenda Dorchak sold 1,000 shares of Mellanox Technologies stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $120.05, for a total transaction of $120,050.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,930 shares of company stock worth $711,641. 4.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. grew its holdings in Mellanox Technologies by 12.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 823 shares of the semiconductor producer’s stock worth $96,000 after acquiring an additional 92 shares in the last quarter. Utah Retirement Systems grew its stake in Mellanox Technologies by 1.4% in the 4th quarter. Utah Retirement Systems now owns 7,150 shares of the semiconductor producer’s stock valued at $838,000 after purchasing an additional 100 shares during the period. Brinker Capital Inc. grew its stake in Mellanox Technologies by 2.8% in the 3rd quarter. Brinker Capital Inc. now owns 5,851 shares of the semiconductor producer’s stock valued at $641,000 after purchasing an additional 159 shares during the period. Janney Montgomery Scott LLC grew its stake in Mellanox Technologies by 1.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 18,397 shares of the semiconductor producer’s stock valued at $2,156,000 after purchasing an additional 181 shares during the period. Finally, CWM LLC bought a new position in Mellanox Technologies in the 4th quarter valued at $33,000. Institutional investors own 77.58% of the company’s stock.

Mellanox Technologies Company Profile (NASDAQ:MLNX)

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, markets, and sells interconnect products and solutions. 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; and 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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