Mellanox Technologies Ltd. (NASDAQ:MLNX) has been given a consensus rating of “Buy” by the nineteen ratings firms that are currently covering the company. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $62.10.
A number of brokerages recently weighed in on MLNX. Brean Capital restated a “buy” rating on shares of Mellanox Technologies in a report on Monday, July 18th. Credit Suisse Group AG restated a “buy” rating and set a $60.00 target price on shares of Mellanox Technologies in a report on Thursday, July 21st. Zacks Investment Research upgraded shares of Mellanox Technologies from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, July 21st. Jefferies Group restated a “hold” rating on shares of Mellanox Technologies in a report on Wednesday, June 8th. Finally, Summit Research restated a “buy” rating and set a $65.00 target price on shares of Mellanox Technologies in a report on Wednesday, June 22nd.
In related news, Director Amal M. Johnson sold 3,571 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $46.07, for a total value of $164,515.97. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Glenda Dorchak sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $42.02, for a total transaction of $84,040.00. The disclosure for this sale can be found here. 6.32% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Mellanox Technologies by 113.4% in the first quarter. Wellington Management Group LLP now owns 4,531,006 shares of the company’s stock worth $246,169,000 after buying an additional 2,407,984 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Mellanox Technologies by 1,105.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,191,556 shares of the company’s stock worth $57,147,000 after buying an additional 1,092,675 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Mellanox Technologies during the second quarter worth about $44,176,000. Cortina Asset Management LLC raised its position in Mellanox Technologies by 385.4% in the second quarter. Cortina Asset Management LLC now owns 510,388 shares of the company’s stock worth $24,478,000 after buying an additional 405,233 shares during the last quarter. Finally, Fiera Capital Corp purchased a new position in Mellanox Technologies during the second quarter worth about $15,258,000. Institutional investors and hedge funds own 66.18% of the company’s stock.
Shares of Mellanox Technologies (NASDAQ:MLNX) opened at 43.25 on Friday. Mellanox Technologies has a 52 week low of $37.54 and a 52 week high of $55.80. The stock has a market capitalization of $2.08 billion, a PE ratio of 34.27 and a beta of 0.45. The stock’s 50 day moving average is $42.29 and its 200 day moving average is $46.48.
Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Wednesday, July 20th. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.04. The firm earned $214.80 million during the quarter, compared to analysts’ expectations of $212.79 million. Mellanox Technologies had a net margin of 7.98% and a return on equity of 10.76%. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. Analysts anticipate that Mellanox Technologies will post $3.56 EPS for the current fiscal year.
About Mellanox Technologies
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company designs, manufactures and sells interconnect products and solutions primarily based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment.
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