Shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) hit a new 52-week high during mid-day trading on Thursday after Stifel Nicolaus raised their price target on the stock from $80.00 to $94.00. Stifel Nicolaus currently has a buy rating on the stock. Mellanox Technologies traded as high as $69.85 and last traded at $62.95, with a volume of 305200 shares traded. The stock had previously closed at $62.95.
A number of other analysts have also issued reports on MLNX. JPMorgan Chase & Co. lowered shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Barclays set a $47.00 price target on shares of Mellanox Technologies and gave the stock a “sell” rating in a research note on Thursday, October 26th. Zacks Investment Research upgraded shares of Mellanox Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 1st. DA Davidson boosted their price target on shares of Mellanox Technologies from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Finally, Longbow Research upgraded shares of Mellanox Technologies from a “neutral” rating to a “buy” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $69.25.
In related news, CEO Eyal Waldman sold 1,975 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $65.23, for a total transaction of $128,829.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shai Cohen sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $66.04, for a total transaction of $2,311,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 1,292 shares of company stock worth $85,270 and have sold 90,121 shares worth $5,815,915. 6.05% of the stock is currently owned by corporate insiders.
The company has a current ratio of 2.58, a quick ratio of 2.78 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3,560.00, a price-to-earnings ratio of -176.15, a PEG ratio of 2.08 and a beta of 0.71.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.14. The firm had revenue of $237.60 million during the quarter, compared to the consensus estimate of $235.43 million. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 2.25%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share. research analysts anticipate that Mellanox Technologies, Ltd. will post 1.95 EPS for the current fiscal year.
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Mellanox Technologies Company Profile
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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