Mellanox Technologies (MLNX) Cut to “Equal Weight” at Barclays

Barclays lowered shares of Mellanox Technologies (NASDAQ:MLNX) from an overweight rating to an equal weight rating in a research report sent to investors on Tuesday morning, Marketbeat reports. They currently have $125.00 target price on the semiconductor producer’s stock, up from their previous target price of $108.00.

Several other equities research analysts have also commented on the stock. DA Davidson boosted their price objective on shares of Mellanox Technologies to $124.00 and gave the stock a buy rating in a research note on Monday, January 28th. BidaskClub lowered shares of Mellanox Technologies from a hold rating to a sell rating in a research note on Thursday, January 24th. Jefferies Financial Group boosted their price objective on shares of Mellanox Technologies from $110.00 to $130.00 and gave the stock a buy rating in a research note on Monday, December 3rd. Zacks Investment Research lowered shares of Mellanox Technologies from a buy rating to a hold rating in a research note on Monday, December 31st. Finally, Piper Jaffray Companies lowered shares of Mellanox Technologies from an overweight rating to a neutral rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $109.27.

Shares of MLNX opened at $118.02 on Tuesday. Mellanox Technologies has a 1-year low of $65.68 and a 1-year high of $119.10. The stock has a market cap of $6.40 billion, a PE ratio of 30.65, a P/E/G ratio of 1.32 and a beta of 0.29.



Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings data on Wednesday, January 30th. The semiconductor producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.30 by $0.12. Mellanox Technologies had a net margin of 12.33% and a return on equity of 16.53%. The business had revenue of $290.07 million for the quarter, compared to analyst estimates of $284.96 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Mellanox Technologies’s quarterly revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts forecast that Mellanox Technologies will post 4.82 earnings per share for the current fiscal year.

In other Mellanox Technologies news, Director Amal M. Johnson sold 5,714 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $95.49, for a total transaction of $545,629.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Glenda Dorchak sold 4,576 shares of the firm’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $85.00, for a total transaction of $388,960.00. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its position in Mellanox Technologies by 31.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,989,408 shares of the semiconductor producer’s stock valued at $183,783,000 after purchasing an additional 480,571 shares during the period. Senvest Management LLC boosted its holdings in shares of Mellanox Technologies by 16.3% in the 3rd quarter. Senvest Management LLC now owns 1,986,776 shares of the semiconductor producer’s stock valued at $145,929,000 after buying an additional 279,057 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Mellanox Technologies by 22.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,394,062 shares of the semiconductor producer’s stock valued at $102,389,000 after buying an additional 252,239 shares in the last quarter. FIL Ltd boosted its holdings in shares of Mellanox Technologies by 15.1% in the 3rd quarter. FIL Ltd now owns 929,435 shares of the semiconductor producer’s stock valued at $68,267,000 after buying an additional 121,592 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Mellanox Technologies by 16.4% in the 3rd quarter. Renaissance Technologies LLC now owns 793,183 shares of the semiconductor producer’s stock valued at $58,259,000 after buying an additional 111,700 shares in the last quarter. 78.36% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Mellanox Technologies (NASDAQ:MLNX)

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