Loop Capital Increases Mellanox Technologies (MLNX) Price Target to $100.00

Mellanox Technologies (NASDAQ:MLNX) had its price objective hoisted by analysts at Loop Capital to $100.00 in a research note issued on Friday, The Fly reports. The firm currently has a “positive” rating on the semiconductor producer’s stock. Loop Capital’s price objective points to a potential upside of 28.95% from the stock’s current price.

Several other brokerages have also issued reports on MLNX. DA Davidson set a $91.00 price target on Mellanox Technologies and gave the company a “buy” rating in a research note on Friday. Barclays raised Mellanox Technologies from an “equal weight” rating to an “overweight” rating and set a $90.00 price target on the stock in a research note on Thursday. BidaskClub raised Mellanox Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 24th. Piper Jaffray reissued a “hold” rating and issued a $73.00 price target on shares of Mellanox Technologies in a research note on Friday, January 19th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $80.00 price target on shares of Mellanox Technologies in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Mellanox Technologies presently has an average rating of “Buy” and a consensus price target of $74.42.

Shares of MLNX opened at $77.55 on Friday. Mellanox Technologies has a 52-week low of $41.55 and a 52-week high of $79.37. The company has a current ratio of 2.58, a quick ratio of 2.25 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $4,021.32, a price-to-earnings ratio of 85.22, a price-to-earnings-growth ratio of 2.10 and a beta of 0.54.



Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.14. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 2.25%. The firm had revenue of $237.60 million for the quarter, compared to analyst estimates of $235.43 million. During the same period in the previous year, the firm earned $0.82 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. equities analysts predict that Mellanox Technologies will post 2.45 earnings per share for the current year.

In other news, Director Shai Cohen sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $66.04, for a total transaction of $2,311,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Khazam acquired 400 shares of the firm’s 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 acquisition, the insider now owns 1,450 shares of the company’s stock, valued at $96,425. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,292 shares of company stock valued at $85,270 and have sold 54,381 shares valued at $3,628,808. Insiders own 6.05% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB bought a new stake in Mellanox Technologies during the fourth quarter worth $299,000. Meitav Dash Investments Ltd. bought a new stake in Mellanox Technologies during the fourth quarter worth $53,317,000. Symmetry Peak Management LLC grew its holdings in Mellanox Technologies by 16.7% during the fourth quarter. Symmetry Peak Management LLC now owns 43,750 shares of the semiconductor producer’s stock worth $2,831,000 after buying an additional 6,250 shares in the last quarter. LPL Financial LLC bought a new stake in Mellanox Technologies during the fourth quarter worth $597,000. Finally, Millennium Management LLC grew its holdings in Mellanox Technologies by 28.0% during the fourth quarter. Millennium Management LLC now owns 352,697 shares of the semiconductor producer’s stock worth $22,819,000 after buying an additional 77,074 shares in the last quarter. Institutional investors and hedge funds own 68.07% of the company’s stock.

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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.

The Fly

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