Mellanox Technologies (NASDAQ:MLNX) had its price objective increased by Jefferies Financial Group from $110.00 to $130.00 in a report published on Monday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the semiconductor producer’s stock.
Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Mellanox Technologies from a hold rating to a sell rating in a research report on Friday, August 17th. Zacks Investment Research downgraded shares of Mellanox Technologies from a strong-buy rating to a hold rating in a research report on Wednesday, September 19th. JPMorgan Chase & Co. upgraded shares of Mellanox Technologies from a neutral rating to an overweight rating and raised their price objective for the company from $98.00 to $100.00 in a research report on Thursday, October 25th. Bank of America assumed coverage on shares of Mellanox Technologies in a research report on Wednesday, October 10th. They set a buy rating and a $105.00 price objective on the stock. Finally, ValuEngine downgraded shares of Mellanox Technologies from a strong-buy rating to a buy rating in a research report on Tuesday, September 4th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $102.15.
Shares of Mellanox Technologies stock opened at $94.34 on Monday. The firm has a market cap of $5.06 billion, a PE ratio of 103.57, a price-to-earnings-growth ratio of 1.40 and a beta of 0.31. Mellanox Technologies has a 1-year low of $58.40 and a 1-year high of $99.14.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings data on Wednesday, October 24th. The semiconductor producer reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.13. The firm had revenue of $279.20 million for the quarter, compared to the consensus estimate of $275.49 million. Mellanox Technologies had a net margin of 8.57% and a return on equity of 14.72%. The company’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the firm earned $0.71 EPS. As a group, equities research analysts forecast that Mellanox Technologies will post 3.56 earnings per share for the current fiscal year.
In other Mellanox Technologies news, Director Glenda Dorchak sold 5,000 shares of Mellanox Technologies stock in a transaction on Friday, October 26th. The shares were sold at an average price of $85.01, for a total value of $425,050.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amal M. Johnson sold 5,714 shares of Mellanox Technologies stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $90.00, for a total transaction of $514,260.00. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Fortis Advisors LLC bought a new stake in Mellanox Technologies in the 2nd quarter valued at $122,000. USA Financial Portformulas Corp bought a new stake in Mellanox Technologies in the 3rd quarter valued at $253,000. Schwab Charles Investment Management Inc. bought a new stake in Mellanox Technologies in the 2nd quarter valued at $257,000. Pitcairn Co. bought a new stake in Mellanox Technologies in the 3rd quarter valued at $253,000. Finally, Juncture Wealth Strategies LLC bought a new stake in Mellanox Technologies in the 3rd quarter valued at $256,000. Institutional investors own 74.03% of the company’s stock.
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.
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