BidaskClub Lowers Mellanox Technologies (NASDAQ:MLNX) to Buy

BidaskClub cut shares of Mellanox Technologies (NASDAQ:MLNX) from a strong-buy rating to a buy rating in a research note released on Wednesday, April 3rd, BidAskClub reports.

A number of other research analysts have also recently weighed in on MLNX. DA Davidson lifted their price target on shares of Mellanox Technologies to $124.00 and gave the company a buy rating in a research report on Monday, January 28th. Barclays cut shares of Mellanox Technologies from an overweight rating to an equal weight rating and lifted their price target for the company from $108.00 to $125.00 in a research report on Tuesday, March 12th. Zacks Investment Research cut shares of Mellanox Technologies from a buy rating to a hold rating in a research report on Monday, December 31st. Jefferies Financial Group cut shares of Mellanox Technologies from a buy rating to a hold rating and reduced their price target for the company from $130.00 to $125.00 in a research report on Friday, March 29th. Finally, Stifel Nicolaus cut shares of Mellanox Technologies from a buy rating to a hold rating and set a $117.95 price target on the stock. in a research report on Thursday, March 14th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $115.00.

Shares of NASDAQ MLNX traded down $0.24 during midday trading on Wednesday, reaching $120.26. 457,319 shares of the stock were exchanged, compared to its average volume of 1,480,435. Mellanox Technologies has a 52-week low of $65.68 and a 52-week high of $121.13. The company has a market cap of $6.53 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.30.

Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Tuesday, April 16th. The semiconductor producer reported $1.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.30). Mellanox Technologies had a return on equity of 18.28% and a net margin of 12.69%. The company had revenue of $305.20 million during the quarter, compared to analyst estimates of $300.40 million. During the same period in the prior year, the business posted $0.98 earnings per share. Mellanox Technologies’s revenue was up 21.6% on a year-over-year basis. As a group, analysts expect that Mellanox Technologies will post 4.9 EPS for the current fiscal year.

In related news, Director Glenda Dorchak sold 4,000 shares of Mellanox Technologies stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $118.30, for a total value of $473,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amal M. Johnson sold 5,714 shares of Mellanox Technologies stock in a transaction on Monday, February 4th. The stock was sold at an average price of $95.49, for a total transaction of $545,629.86. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Mellanox Technologies by 38.6% during the third quarter. Vanguard Group Inc. now owns 520,710 shares of the semiconductor producer’s stock valued at $38,247,000 after purchasing an additional 145,078 shares during the last quarter. Icon Advisers Inc. Co. increased its stake in Mellanox Technologies by 18.1% during the fourth quarter. Icon Advisers Inc. Co. now owns 11,100 shares of the semiconductor producer’s stock valued at $1,025,000 after purchasing an additional 1,700 shares during the last quarter. Navellier & Associates Inc increased its stake in Mellanox Technologies by 24.7% during the fourth quarter. Navellier & Associates Inc now owns 29,396 shares of the semiconductor producer’s stock valued at $2,716,000 after purchasing an additional 5,814 shares during the last quarter. Chase Investment Counsel Corp bought a new stake in Mellanox Technologies during the fourth quarter valued at $832,000. Finally, Pier 88 Investment Partners LLC bought a new stake in Mellanox Technologies during the fourth quarter valued at $467,000. Hedge funds and other institutional investors own 77.97% of the company’s stock.

Mellanox Technologies Company Profile

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, markets, and sells interconnect products and solutions. 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; and 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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