Mellanox Technologies (NASDAQ:MLNX) Downgraded by ValuEngine

ValuEngine cut shares of Mellanox Technologies (NASDAQ:MLNX) from a buy rating to a hold rating in a research report released on Wednesday, ValuEngine reports.

MLNX has been the subject of several other reports. Rosenblatt Securities boosted their price objective on QUALCOMM from $70.00 to $82.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Jefferies Financial Group decreased their price objective on MAV Beauty Brands from C$15.00 to C$14.00 in a research report on Friday, March 29th. Zacks Investment Research upgraded Golub Capital BDC from a hold rating to a buy rating and set a $20.00 price objective for the company in a research report on Tuesday, July 16th. Finally, BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $117.99.

Shares of MLNX opened at $111.55 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.38 and a quick ratio of 2.99. The company has a 50 day simple moving average of $111.36. Mellanox Technologies has a 52-week low of $65.68 and a 52-week high of $121.13. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 1.04 and a beta of 0.36.

In other news, Director Steve Sanghi purchased 20,000 shares of Mellanox Technologies stock in a transaction on Wednesday, June 5th. The stock was purchased at an average price of $110.54 per share, with a total value of $2,210,800.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Glenda Dorchak sold 1,750 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $112.12, for a total value of $196,210.00. Following the transaction, the director now directly owns 20,716 shares of the company’s stock, valued at approximately $2,322,677.92. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MLNX. Bank of Montreal Can boosted its position in Mellanox Technologies by 30.7% during the 1st quarter. Bank of Montreal Can now owns 426 shares of the semiconductor producer’s stock worth $51,000 after acquiring an additional 100 shares during the last quarter. Security National Trust Co. acquired a new stake in shares of Mellanox Technologies in the 1st quarter valued at approximately $59,000. Private Capital Group LLC boosted its holdings in shares of Mellanox Technologies by 15.4% in the 1st quarter. Private Capital Group LLC now owns 908 shares of the semiconductor producer’s stock valued at $107,000 after buying an additional 121 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Mellanox Technologies by 63.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 926 shares of the semiconductor producer’s stock valued at $110,000 after buying an additional 359 shares during the last quarter. Finally, QS Investors LLC boosted its holdings in shares of Mellanox Technologies by 1,374.0% in the 4th quarter. QS Investors LLC now owns 1,813 shares of the semiconductor producer’s stock valued at $168,000 after buying an additional 1,690 shares during the last quarter. 75.09% of the stock is owned by hedge funds and other institutional investors.

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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