Barclays PLC lowered shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) from an overweight rating to an underweight rating in a report released on Monday, MarketBeat.com reports. Barclays PLC currently has $48.00 price target on the semiconductor producer’s stock, down from their prior price target of $50.00.
Other equities analysts also recently issued reports about the company. BidaskClub raised Mellanox Technologies from a sell rating to a hold rating in a report on Tuesday, August 1st. Zacks Investment Research cut Mellanox Technologies from a strong-buy rating to a hold rating in a research note on Tuesday, August 1st. KeyCorp restated a hold rating on shares of Mellanox Technologies in a research note on Friday, September 1st. Jefferies Group LLC restated a sell rating and set a $38.00 price target on shares of Mellanox Technologies in a research note on Sunday, September 10th. Finally, Piper Jaffray Companies restated a hold rating and set a $47.00 price target on shares of Mellanox Technologies in a research note on Friday, July 28th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Mellanox Technologies presently has a consensus rating of Hold and an average price target of $50.88.
Shares of Mellanox Technologies (NASDAQ:MLNX) opened at 44.70 on Monday. The stock has a market capitalization of $2.25 billion, a PE ratio of 6385.71 and a beta of 0.69. The firm has a 50-day moving average of $46.55 and a 200 day moving average of $46.60. Mellanox Technologies has a 1-year low of $38.75 and a 1-year high of $52.79.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Mellanox Technologies had a return on equity of 5.93% and a net margin of 0.09%. The company had revenue of $212.00 million for the quarter, compared to analyst estimates of $209.62 million. During the same period in the prior year, the firm posted $0.87 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. Analysts predict that Mellanox Technologies will post $2.14 EPS for the current year.
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In related news, Director Shai Cohen sold 12,546 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $47.00, for a total transaction of $589,662.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael Kagan sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $45.01, for a total value of $225,050.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,453 shares of company stock worth $3,402,241. Company insiders own 6.05% of the company’s stock.
Several large investors have recently made changes to their positions in MLNX. Chicago Partners Investment Group LLC purchased a new stake in shares of Mellanox Technologies during the 2nd quarter valued at about $106,000. SG Americas Securities LLC purchased a new stake in shares of Mellanox Technologies during the 2nd quarter valued at about $122,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Mellanox Technologies during the 1st quarter valued at about $186,000. Legal & General Group Plc raised its holdings in shares of Mellanox Technologies by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after buying an additional 199 shares during the period. Finally, Harbour Capital Advisors LLC raised its holdings in shares of Mellanox Technologies by 4,230.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 9,743 shares of the semiconductor producer’s stock valued at $225,000 after buying an additional 9,518 shares during the period. Institutional investors and hedge funds own 61.58% 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.
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