Mellanox Technologies (MLNX) PT Raised to $80.00

Mellanox Technologies (NASDAQ:MLNX) had its target price upped by equities researchers at Benchmark from $70.00 to $80.00 in a research report issued on Friday. The firm presently has a “buy” rating on the semiconductor producer’s stock. Benchmark’s target price would indicate a potential upside of 21.67% from the stock’s current price.

A number of other analysts also recently commented on MLNX. DA Davidson boosted their price objective on Mellanox Technologies to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Zacks Investment Research downgraded Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Longbow Research raised Mellanox Technologies from a “neutral” rating to a “buy” rating in a research note on Friday, December 1st. KeyCorp reissued a “hold” rating on shares of Mellanox Technologies in a research note on Tuesday, October 17th. Finally, Barclays set a $47.00 price objective on Mellanox Technologies and gave the stock a “sell” rating in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Mellanox Technologies has a consensus rating of “Hold” and an average target price of $65.30.

Shares of Mellanox Technologies (NASDAQ:MLNX) opened at $65.75 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12. The firm has a market capitalization of $3,348.58, a price-to-earnings ratio of 70.70, a price-to-earnings-growth ratio of 2.30 and a beta of 0.62. Mellanox Technologies has a 12 month low of $40.70 and a 12 month high of $69.00.

Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.14. Mellanox Technologies had a positive return on equity of 4.81% and a negative net margin of 2.25%. The firm had revenue of $237.60 million for the quarter, compared to the consensus estimate of $235.43 million. During the same quarter in the previous year, the business earned $0.82 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. equities research analysts expect that Mellanox Technologies will post 1.78 earnings per share for the current fiscal year.

In related news, CFO Yakov (Jacob) Shulman sold 2,706 shares of Mellanox Technologies stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $46.32, for a total value of $125,341.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Shai Cohen sold 50,000 shares of Mellanox Technologies stock in a transaction on Monday, October 30th. The stock was sold at an average price of $47.15, for a total value of $2,357,500.00. The disclosure for this sale can be found here. Insiders sold a total of 260,718 shares of company stock worth $13,455,300 over the last 90 days. Insiders own 6.05% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MLNX. Capital Research Global Investors grew its holdings in shares of Mellanox Technologies by 29.8% in the 2nd quarter. Capital Research Global Investors now owns 2,139,726 shares of the semiconductor producer’s stock worth $92,650,000 after acquiring an additional 490,726 shares during the last quarter. Menora Mivtachim Holdings LTD. grew its holdings in shares of Mellanox Technologies by 36.2% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 1,834,105 shares of the semiconductor producer’s stock worth $86,478,000 after acquiring an additional 487,000 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Mellanox Technologies in the 2nd quarter worth $12,617,000. Senvest Management LLC grew its holdings in shares of Mellanox Technologies by 27.5% in the 3rd quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock worth $51,257,000 after acquiring an additional 234,424 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Mellanox Technologies by 15.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,185,765 shares of the semiconductor producer’s stock worth $55,909,000 after acquiring an additional 156,119 shares during the last quarter. Institutional investors and hedge funds own 60.81% of the company’s stock.

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About Mellanox Technologies

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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