Mellanox Technologies (NASDAQ:MLNX) Upgraded at BidaskClub

BidaskClub upgraded shares of Mellanox Technologies (NASDAQ:MLNX) from a strong sell rating to a sell rating in a research report released on Tuesday morning, BidAskClub reports.

A number of other equities research analysts also recently issued reports on MLNX. ValuEngine downgraded shares of Mellanox Technologies from a hold rating to a sell rating in a research report on Wednesday, August 28th. Zacks Investment Research raised shares of Mellanox Technologies from a hold rating to a buy rating and set a $125.00 price objective for the company in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $117.99.

Shares of MLNX stock opened at $111.96 on Tuesday. Mellanox Technologies has a 1 year low of $65.68 and a 1 year high of $121.13. The firm has a fifty day moving average price of $108.91 and a 200-day moving average price of $113.15. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 0.94 and a beta of 0.46.

Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor producer reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.10). Mellanox Technologies had a net margin of 14.09% and a return on equity of 16.86%. The business had revenue of $310.30 million for the quarter, compared to the consensus estimate of $307.24 million. During the same period in the previous year, the firm earned $1.25 EPS. The company’s revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts expect that Mellanox Technologies will post 5.51 earnings per share for the current fiscal year.

In related news, VP Marc Sultzbaugh sold 7,500 shares of Mellanox Technologies stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $109.25, for a total transaction of $819,375.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Glenda Dorchak sold 1,750 shares of Mellanox Technologies stock in a transaction on Monday, July 8th. The shares were sold at an average price of $112.12, for a total transaction of $196,210.00. Following the transaction, the director now owns 20,716 shares in the company, valued at approximately $2,322,677.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,750 shares of company stock worth $1,288,085. 4.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLNX. Bank of Montreal Can lifted its stake in shares of Mellanox Technologies by 30.7% during the 1st quarter. Bank of Montreal Can now owns 426 shares of the semiconductor producer’s stock valued at $51,000 after buying an additional 100 shares in the last quarter. Laurion Capital Management LP purchased a new position in shares of Mellanox Technologies during the 1st quarter valued at $829,000. Penserra Capital Management LLC lifted its stake in shares of Mellanox Technologies by 347.7% during the 1st quarter. Penserra Capital Management LLC now owns 2,216 shares of the semiconductor producer’s stock valued at $262,000 after buying an additional 1,721 shares in the last quarter. S. Muoio & CO. LLC purchased a new position in shares of Mellanox Technologies during the 1st quarter valued at $1,420,000. Finally, ARP Americas LP purchased a new position in shares of Mellanox Technologies during the 1st quarter valued at $37,512,000. Institutional investors own 75.96% of the company’s stock.

About Mellanox Technologies

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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