Mellanox Technologies, Ltd. (MLNX) Receives $101.22 Average Target Price from Brokerages

Mellanox Technologies, Ltd. (NASDAQ:MLNX) has been given a consensus recommendation of “Buy” by the seventeen brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $101.22.

A number of research analysts recently commented on the company. Piper Jaffray Companies reissued a “buy” rating and issued a $110.00 price target on shares of Mellanox Technologies in a report on Wednesday, July 18th. BidaskClub downgraded Mellanox Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Benchmark lifted their price objective on Mellanox Technologies from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Barclays lifted their price objective on Mellanox Technologies from $103.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Finally, Rosenblatt Securities reaffirmed a “hold” rating on shares of Mellanox Technologies in a research note on Wednesday, July 18th.

NASDAQ MLNX traded up $0.35 during trading hours on Wednesday, reaching $77.20. The company’s stock had a trading volume of 4,535 shares, compared to its average volume of 354,524. Mellanox Technologies has a 1 year low of $42.25 and a 1 year high of $90.45. The stock has a market cap of $4.07 billion, a PE ratio of 84.29, a P/E/G ratio of 1.50 and a beta of 0.49.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Tuesday, July 17th. The semiconductor producer reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.16. Mellanox Technologies had a return on equity of 12.26% and a net margin of 5.61%. The company had revenue of $268.46 million for the quarter, compared to analysts’ expectations of $263.61 million. During the same period in the previous year, the firm earned $0.44 EPS. The firm’s revenue was up 26.7% compared to the same quarter last year. sell-side analysts predict that Mellanox Technologies will post 3.41 earnings per share for the current fiscal year.

In other news, insider Value Lp Starboard sold 344,677 shares of the business’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $85.03, for a total transaction of $29,307,885.31. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Marc Sultzbaugh sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $76.13, for a total value of $761,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,633 shares of company stock worth $32,655,311. Corporate insiders own 4.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLNX. Fortis Advisors LLC bought a new position in shares of Mellanox Technologies during the 2nd quarter valued at approximately $122,000. Cerebellum GP LLC bought a new position in shares of Mellanox Technologies during the 2nd quarter valued at approximately $176,000. Empirical Finance LLC bought a new position in shares of Mellanox Technologies during the 2nd quarter valued at approximately $213,000. Bayesian Capital Management LP bought a new position in shares of Mellanox Technologies during the 1st quarter valued at approximately $219,000. Finally, Franklin Resources Inc. bought a new position in shares of Mellanox Technologies during the 1st quarter valued at approximately $222,000. 75.29% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

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