Mellanox Technologies (NASDAQ:MLNX) Cut to Buy at BidaskClub

Mellanox Technologies (NASDAQ:MLNX) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Friday, June 8th.

Other research analysts have also issued research reports about the company. Benchmark lifted their price target on Mellanox Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 17th. Barclays set a $103.00 price target on Mellanox Technologies and gave the company a “buy” rating in a research note on Thursday, May 17th. Piper Jaffray Companies upgraded Mellanox Technologies from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a research report on Friday, May 18th. ValuEngine raised Mellanox Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Finally, Susquehanna Bancshares upped their target price on Mellanox Technologies from $80.00 to $90.00 and gave the company a “positive” rating in a research note on Tuesday, April 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $85.45.

NASDAQ MLNX traded down $2.00 during mid-day trading on Friday, hitting $83.90. The stock had a trading volume of 7,651 shares, compared to its average volume of 400,817. Mellanox Technologies has a twelve month low of $41.88 and a twelve month high of $88.85. The company has a market cap of $4.48 billion, a P/E ratio of 92.20, a P/E/G ratio of 1.81 and a beta of 0.57.

Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings results on Tuesday, April 17th. The semiconductor producer reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. The business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $244.93 million. Mellanox Technologies had a return on equity of 8.00% and a net margin of 3.31%. The company’s revenue was up 33.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. research analysts predict that Mellanox Technologies will post 3.16 EPS for the current fiscal year.

In other Mellanox Technologies news, CFO Yakov (Jacob) Shulman sold 4,156 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $78.14, for a total transaction of $324,749.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Marc Sultzbaugh sold 1,800 shares of the firm’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $79.75, for a total value of $143,550.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,212 shares of company stock valued at $490,344. Corporate insiders own 4.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Mellanox Technologies by 36.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,955 shares of the semiconductor producer’s stock valued at $191,000 after acquiring an additional 788 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Mellanox Technologies during the 4th quarter valued at $323,000. Public Employees Retirement Association of Colorado bought a new stake in shares of Mellanox Technologies during the 4th quarter valued at $166,000. Teacher Retirement System of Texas bought a new stake in shares of Mellanox Technologies during the 4th quarter valued at $985,000. Finally, Swiss National Bank raised its position in shares of Mellanox Technologies by 4.5% during the 4th quarter. Swiss National Bank now owns 77,121 shares of the semiconductor producer’s stock valued at $4,990,000 after acquiring an additional 3,300 shares during the last quarter. 74.48% 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.

Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

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