Benchmark Boosts Mellanox Technologies (MLNX) Price Target to $80.00

Mellanox Technologies (NASDAQ:MLNX) had its price objective increased by Benchmark from $70.00 to $80.00 in a report released on Friday morning, The Fly reports. They currently have a buy rating on the semiconductor producer’s stock.

Several other analysts have also recently commented on the stock. Barclays cut shares of Mellanox Technologies from an overweight rating to an underweight rating and decreased their price objective for the company from $50.00 to $48.00 in a research note on Monday, October 9th. Stifel Nicolaus lifted their price objective on shares of Mellanox Technologies from $53.00 to $70.00 and gave the company a buy rating in a research note on Thursday, December 7th. JPMorgan Chase & Co. cut shares of Mellanox Technologies from an overweight rating to a neutral rating in a research note on Thursday, October 26th. Susquehanna Bancshares started coverage on shares of Mellanox Technologies in a research note on Wednesday, December 13th. They set a positive rating and a $75.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Mellanox Technologies from a hold rating to a strong-buy rating and set a $74.00 price objective for the company in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $65.80.

Shares of Mellanox Technologies (NASDAQ:MLNX) opened at $66.90 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12. Mellanox Technologies has a 12 month low of $40.70 and a 12 month high of $69.00. The company has a market cap of $3,410.00, a P/E ratio of -171.54, a price-to-earnings-growth ratio of 2.30 and a beta of 0.62.

Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings data on Thursday, January 18th. The semiconductor producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.68 by $0.14. Mellanox Technologies had a negative net margin of 2.25% and a positive return on equity of 4.81%. The business had revenue of $237.60 million during the quarter, compared to analysts’ expectations of $235.43 million. During the same period in the previous year, the business posted $0.82 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. equities research analysts predict that Mellanox Technologies will post 1.78 earnings per share for the current year.

In related news, CFO Yakov (Jacob) Shulman sold 12,590 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $65.75, for a total value of $827,792.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amal M. Johnson sold 2,857 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $57.60, for a total transaction of $164,563.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 260,718 shares of company stock valued at $13,455,300. Company insiders own 6.05% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Mellanox Technologies by 404.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,765 shares of the semiconductor producer’s stock valued at $114,000 after purchasing an additional 1,415 shares during the period. SG Americas Securities LLC purchased a new stake in Mellanox Technologies in the 2nd quarter worth $122,000. Legal & General Group Plc increased its holdings in Mellanox Technologies by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock worth $194,000 after acquiring an additional 199 shares in the last quarter. Juncture Wealth Strategies LLC purchased a new stake in Mellanox Technologies in the 3rd quarter worth $222,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Mellanox Technologies in the 2nd quarter worth $259,000. Hedge funds and other institutional investors own 60.70% of the company’s stock.

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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.

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Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

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