Mellanox Technologies Ltd. (MLNX) Earns Sector Weight Rating from Analysts at Pacific Crest
Pacific Crest started coverage on shares of Mellanox Technologies Ltd. (NASDAQ:MLNX) in a report issued on Thursday. The firm set a “sector weight” rating on the stock.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Mellanox Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. FBN Securities decreased their price objective on Mellanox Technologies from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Thursday, April 21st. Vetr upgraded Mellanox Technologies from a “buy” rating to a “strong-buy” rating and set a $60.32 price objective for the company in a report on Monday, April 18th. Brean Capital reiterated a “buy” rating on shares of Mellanox Technologies in a report on Monday, July 18th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $64.00 price target on shares of Mellanox Technologies in a report on Sunday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $63.08.
Mellanox Technologies (NASDAQ:MLNX) traded down 0.82% during mid-day trading on Thursday, hitting $40.11. The company had a trading volume of 390,791 shares. The firm has a market capitalization of $1.93 billion, a PE ratio of 31.78 and a beta of 0.45. The company’s 50 day moving average price is $42.98 and its 200-day moving average price is $47.21. Mellanox Technologies has a 12-month low of $33.41 and a 12-month high of $55.80.
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Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.04. The business earned $214.80 million during the quarter, compared to the consensus estimate of $212.79 million. Mellanox Technologies had a return on equity of 10.76% and a net margin of 7.98%. Mellanox Technologies’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. On average, analysts forecast that Mellanox Technologies will post $3.56 EPS for the current fiscal year.
In other Mellanox Technologies news, Director Glenda Dorchak sold 2,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $42.02, for a total value of $84,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eyal Waldman sold 28,576 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $43.92, for a total transaction of $1,255,057.92. The disclosure for this sale can be found here. 6.32% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Seven Eight Capital LLC purchased a new stake in Mellanox Technologies during the first quarter valued at approximately $114,000. Sei Investments Co. raised its stake in Mellanox Technologies by 58.5% in the second quarter. Sei Investments Co. now owns 2,349 shares of the company’s stock valued at $112,000 after buying an additional 867 shares during the period. ClariVest Asset Management LLC purchased a new stake in Mellanox Technologies during the second quarter valued at approximately $148,000. BlackRock Fund Advisors raised its stake in Mellanox Technologies by 5.2% in the second quarter. BlackRock Fund Advisors now owns 3,859 shares of the company’s stock valued at $185,000 after buying an additional 192 shares during the period. Finally, LPL Financial LLC purchased a new stake in Mellanox Technologies during the first quarter valued at approximately $222,000. Hedge funds and other institutional investors own 66.18% of the company’s stock.
Mellanox Technologies Company Profile
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company designs, manufactures and sells interconnect products and solutions primarily based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment.
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