BidaskClub upgraded shares of Mellanox Technologies (NASDAQ:MLNX) from a buy rating to a strong-buy rating in a research note published on Saturday morning.
Several other research firms also recently issued reports on MLNX. DA Davidson boosted their price objective on shares of Mellanox Technologies to $75.00 and gave the stock a buy rating in a report on Friday, January 12th. Zacks Investment Research upgraded shares of Mellanox Technologies from a strong sell rating to a hold rating in a report on Wednesday, November 1st. Summit Redstone set a $75.00 price objective on shares of Mellanox Technologies and gave the stock a buy rating in a report on Wednesday, February 21st. Piper Jaffray Companies restated a hold rating and set a $73.00 price objective on shares of Mellanox Technologies in a report on Friday, January 19th. Finally, Benchmark boosted their price objective on shares of Mellanox Technologies from $70.00 to $80.00 and gave the stock a buy rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Mellanox Technologies currently has an average rating of Buy and an average price target of $69.25.
Mellanox Technologies (NASDAQ MLNX) opened at $68.80 on Friday. Mellanox Technologies has a twelve month low of $41.55 and a twelve month high of $70.35. The company has a current ratio of 2.58, a quick ratio of 2.25 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3,560.00, a PE ratio of -176.41, a PEG ratio of 1.93 and a beta of 0.71.
In related news, VP Marc Sultzbaugh sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $67.00, for a total value of $335,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael Kagan sold 2,500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $69.00, for a total transaction of $172,500.00. The disclosure for this sale can be found here. In the last three months, insiders purchased 1,292 shares of company stock worth $85,270 and sold 90,328 shares worth $5,853,128. Insiders own 6.05% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. increased its stake in Mellanox Technologies by 294.2% in the fourth quarter. Advisor Group Inc. now owns 1,573 shares of the semiconductor producer’s stock valued at $101,000 after acquiring an additional 1,174 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Mellanox Technologies by 404.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,765 shares of the semiconductor producer’s stock valued at $114,000 after acquiring an additional 1,415 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in Mellanox Technologies in the fourth quarter valued at about $166,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Mellanox Technologies by 36.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,955 shares of the semiconductor producer’s stock valued at $191,000 after acquiring an additional 788 shares during the period. Finally, Virtu Financial LLC bought a new stake in Mellanox Technologies in the fourth quarter valued at about $257,000. 52.44% of the stock is currently owned by institutional investors and hedge funds.
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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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