Jefferies Group LLC Reaffirms Underperform Rating for Mellanox Technologies, Ltd. (MLNX)

Mellanox Technologies, Ltd. (NASDAQ:MLNX)‘s stock had its “underperform” rating reiterated by equities researchers at Jefferies Group LLC in a report released on Tuesday. They currently have a $38.00 target price on the semiconductor producer’s stock. Jefferies Group LLC’s price target points to a potential downside of 13.24% from the company’s previous close.

A number of other equities research analysts have also issued reports on MLNX. Rosenblatt Securities initiated coverage on shares of Mellanox Technologies in a research note on Wednesday, February 22nd. They issued a “neutral” rating on the stock. TheStreet upgraded shares of Mellanox Technologies from a “c+” rating to a “b-” rating in a research note on Monday, February 27th. Zacks Investment Research upgraded shares of Mellanox Technologies from a “strong sell” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Wednesday, April 5th. Piper Jaffray Companies downgraded shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating and set a $48.00 price objective for the company. in a research report on Thursday, April 27th. Finally, Credit Suisse Group downgraded shares of Mellanox Technologies from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $50.00 to $45.00 in a research report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Mellanox Technologies presently has an average rating of “Hold” and an average price target of $53.89.

Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

Shares of Mellanox Technologies (MLNX) traded down 1.9409% during trading on Tuesday, hitting $42.9499. The company’s stock had a trading volume of 276,765 shares. The firm’s 50 day moving average price is $46.69 and its 200-day moving average price is $46.72. Mellanox Technologies has a 52 week low of $38.75 and a 52 week high of $52.80. The company has a market cap of $2.13 billion, a PE ratio of 163.9309 and a beta of 0.77.

Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Wednesday, April 26th. The semiconductor producer reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by $0.20. The company had revenue of $188.65 million during the quarter, compared to analyst estimates of $204.70 million. Mellanox Technologies had a net margin of 1.58% and a return on equity of 8.12%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS. On average, analysts predict that Mellanox Technologies will post $2.34 earnings per share for the current year.

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In other Mellanox Technologies news, VP Michael Kagan sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $47.50, for a total value of $237,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.05% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Interstate Bank purchased a new position in Mellanox Technologies during the first quarter valued at approximately $159,000. First Mercantile Trust Co. purchased a new position in Mellanox Technologies during the first quarter valued at approximately $174,000. Oppenheimer Asset Management Inc. purchased a new position in Mellanox Technologies during the first quarter valued at approximately $186,000. Wexford Capital LP purchased a new position in Mellanox Technologies during the first quarter valued at approximately $204,000. Finally, Highbridge Capital Management LLC purchased a new position in Mellanox Technologies during the first quarter valued at approximately $236,000. Hedge funds and other institutional investors own 69.05% of the company’s stock.

Mellanox Technologies Company Profile

Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company is an integrated supplier of interconnect products and solutions based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MLNX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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