Benchmark Reiterates Buy Rating for Mellanox Technologies (MLNX)

Benchmark restated their buy rating on shares of Mellanox Technologies (NASDAQ:MLNX) in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $90.00 price target on the semiconductor producer’s stock, up from their previous price target of $80.00.

Several other brokerages have also recently issued reports on MLNX. DA Davidson lifted their target price on shares of Mellanox Technologies to $75.00 and gave the stock a buy rating in a research note on Friday, January 12th. Summit Redstone set a $75.00 target price on shares of Mellanox Technologies and gave the stock a buy rating in a research note on Wednesday, February 21st. Piper Jaffray reaffirmed a hold rating and set a $73.00 target price on shares of Mellanox Technologies in a research note on Friday, January 19th. Zacks Investment Research raised shares of Mellanox Technologies from a hold rating to a strong-buy rating and set a $74.00 target price on the stock in a research note on Wednesday, December 27th. Finally, Barclays raised shares of Mellanox Technologies from an equal weight rating to an overweight rating and set a $90.00 target price on the stock in a research note on Thursday, April 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $75.25.

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Shares of MLNX opened at $78.35 on Friday. Mellanox Technologies has a 52-week low of $41.55 and a 52-week high of $79.37. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.25 and a current ratio of 2.58. The firm has a market cap of $4,063.22, a price-to-earnings ratio of 86.10, a price-to-earnings-growth ratio of 2.09 and a beta of 0.54.

Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share (EPS) for the quarter, topping 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 4.76%. The company had revenue of $237.60 million for the quarter, compared to analysts’ expectations of $235.43 million. During the same quarter in the previous year, the company posted $0.82 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. analysts forecast that Mellanox Technologies will post 2.49 earnings per share for the current fiscal year.

In other news, insider Jonathan Khazam purchased 400 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were purchased at an average price of $66.50 per share, with a total value of $26,600.00. Following the transaction, the insider now owns 1,450 shares in the company, valued at approximately $96,425. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Marc Sultzbaugh sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $67.00, for a total transaction of $335,000.00. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,292 shares of company stock worth $85,270 and have sold 54,381 shares worth $3,628,808. Insiders own 6.05% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. NWQ Investment Management Company LLC boosted its position in shares of Mellanox Technologies by 25.0% during the 4th quarter. NWQ Investment Management Company LLC now owns 1,661,267 shares of the semiconductor producer’s stock valued at $107,484,000 after acquiring an additional 332,528 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its holdings in Mellanox Technologies by 2.9% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,220,678 shares of the semiconductor producer’s stock valued at $78,978,000 after buying an additional 34,913 shares during the period. OppenheimerFunds Inc. raised its holdings in Mellanox Technologies by 12.5% in the 4th quarter. OppenheimerFunds Inc. now owns 1,130,477 shares of the semiconductor producer’s stock valued at $73,142,000 after buying an additional 125,327 shares during the period. Neuberger Berman Group LLC raised its holdings in Mellanox Technologies by 9.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 947,429 shares of the semiconductor producer’s stock valued at $44,671,000 after buying an additional 81,664 shares during the period. Finally, Meitav Dash Investments Ltd. purchased a new stake in Mellanox Technologies in the 4th quarter valued at about $53,317,000. 68.07% of the stock is currently owned by hedge funds and other institutional investors.

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Mellanox Technologies Company Profile

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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