According to Zacks, “MELLANOX TECHNOLOGIES is a leading supplier of semiconductor-based, interconnect products to world-class server, storage, and infrastructure OEMs servicing Fortune 500 data centers, the world’s most powerful supercomputers, and mission critical embedded applications. The company’s Virtual Protocol Interconnect enables standard communication protocols to operate over any converged network (InfiniBand, Ethernet, Data Center Ethernet) with the same software solution. Utilizing proven networking, clustering, storage, virtualization and RDMA acceleration engines, VPI optimizes application performance, power consumption, workload agility, and total system efficiency while future-proofing IT infrastructure. “
Zacks Investment Research lowered shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) from a strong-buy rating to a hold rating in a report published on Tuesday.
Several other brokerages have also weighed in on MLNX. BidaskClub raised shares of Mellanox Technologies from a sell rating to a hold rating in a research note on Wednesday, July 12th. Credit Suisse Group set a $45.00 target price on shares of Mellanox Technologies and gave the stock a hold rating in a research note on Thursday, July 27th. Roth Capital lowered shares of Mellanox Technologies from a buy rating to a neutral rating and lowered their target price for the stock from $60.00 to $53.00 in a research note on Thursday, April 27th. Piper Jaffray Companies lowered shares of Mellanox Technologies from an overweight rating to a neutral rating and set a $48.00 target price for the company. in a research note on Thursday, April 27th. Finally, Barclays PLC reaffirmed a buy rating and set a $50.00 target price (down previously from $54.00) on shares of Mellanox Technologies in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $49.86.
Mellanox Technologies (NASDAQ:MLNX) traded down 1.27% during trading on Tuesday, hitting $46.60. 254,412 shares of the company were exchanged. The stock’s 50-day moving average is $44.44 and its 200-day moving average is $47.34. Mellanox Technologies has a 12 month low of $38.75 and a 12 month high of $52.79. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 6657.14 and a beta of 0.67.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.98%. The firm had revenue of $212 million during the quarter, compared to analysts’ expectations of $209.62 million. During the same period in the prior year, the company posted $0.87 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that Mellanox Technologies will post $2.18 earnings per share for the current year.
In other news, VP Michael Kagan sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $47.50, for a total value of $237,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.05% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in Mellanox Technologies by 24.7% in the first quarter. FMR LLC now owns 3,298,585 shares of the semiconductor producer’s stock valued at $168,064,000 after buying an additional 654,046 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Mellanox Technologies by 13.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,430,727 shares of the semiconductor producer’s stock valued at $123,846,000 after buying an additional 287,806 shares during the last quarter. Ameriprise Financial Inc. raised its position in Mellanox Technologies by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 1,405,862 shares of the semiconductor producer’s stock valued at $71,629,000 after buying an additional 36,074 shares during the last quarter. FIL Ltd raised its position in Mellanox Technologies by 78.5% in the first quarter. FIL Ltd now owns 1,390,315 shares of the semiconductor producer’s stock valued at $70,836,000 after buying an additional 611,541 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. raised its position in Mellanox Technologies by 128.3% in the first quarter. Menora Mivtachim Holdings LTD. now owns 1,347,105 shares of the semiconductor producer’s stock valued at $68,635,000 after buying an additional 757,000 shares during the last quarter. 67.66% of the stock is owned by institutional investors and hedge funds.
About Mellanox Technologies
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.