Mellanox Technologies (MLNX) Downgraded to “Hold” at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Mellanox Technologies (NASDAQ:MLNX) from a buy rating to a hold rating in a report released on Thursday morning, MarketBeat Ratings reports. They currently have $117.95 price objective on the semiconductor producer’s stock.

Other equities analysts have also recently issued reports about the stock. DA Davidson boosted their target price on shares of Mellanox Technologies to $124.00 and gave the company a buy rating in a research report on Monday, January 28th. BidaskClub upgraded shares of Mellanox Technologies from a hold rating to a buy rating in a research report on Wednesday, February 27th. Jefferies Financial Group boosted their target price on shares of Mellanox Technologies from $110.00 to $130.00 and gave the company a buy rating in a research report on Monday, December 3rd. Barclays cut shares of Mellanox Technologies from an overweight rating to an equal weight rating and boosted their target price for the company from $108.00 to $125.00 in a research report on Tuesday, March 12th. Finally, Zacks Investment Research cut shares of Mellanox Technologies from a buy rating to a hold rating in a research report on Monday, December 31st. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $110.00.

Shares of Mellanox Technologies stock opened at $117.97 on Thursday. Mellanox Technologies has a twelve month low of $65.68 and a twelve month high of $119.10. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 1.32 and a beta of 0.29.

Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, January 30th. The semiconductor producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.12. Mellanox Technologies had a net margin of 12.33% and a return on equity of 16.53%. The business had revenue of $290.07 million during the quarter, compared to analysts’ expectations of $284.96 million. During the same quarter in the previous year, the company earned $0.82 EPS. The business’s revenue was up 22.1% on a year-over-year basis. Equities analysts expect that Mellanox Technologies will post 4.82 earnings per share for the current fiscal year.

In related news, Director Glenda Dorchak sold 4,576 shares of Mellanox Technologies stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $85.00, for a total transaction of $388,960.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amal M. Johnson sold 5,714 shares of Mellanox Technologies stock in a transaction that occurred on Monday, February 4th. The shares were 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.

Institutional investors have recently made changes to their positions in the stock. Private Capital Group LLC grew its holdings in shares of Mellanox Technologies by 259.4% during the 4th quarter. Private Capital Group LLC now owns 787 shares of the semiconductor producer’s stock valued at $73,000 after purchasing an additional 568 shares during the last quarter. QS Investors LLC grew its holdings in shares of Mellanox Technologies by 1,374.0% during the 4th quarter. QS Investors LLC now owns 1,813 shares of the semiconductor producer’s stock valued at $168,000 after purchasing an additional 1,690 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in shares of Mellanox Technologies during the 4th quarter valued at approximately $205,000. Dixon Hubard Feinour & Brown Inc. VA bought a new stake in shares of Mellanox Technologies during the 4th quarter valued at approximately $217,000. Finally, SG Americas Securities LLC bought a new stake in shares of Mellanox Technologies during the 4th quarter valued at approximately $238,000. 78.36% of the stock is currently owned by institutional investors.

About Mellanox Technologies

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.

Further Reading: Why Dividend Stocks May Be Right for You

Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

Receive News & Ratings for Mellanox Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mellanox Technologies and related companies with MarketBeat.com's FREE daily email newsletter.