Stock Analysis:Mellanox Technologies (NASDAQ:MLNX) Stock Target Raised
In a very recent research note sent to clients and investors by Piper Jaffray on 8 December, Mellanox Technologies (NASDAQ:MLNX) had its target boosted to $65.00. The firm currently has a solid “Overweight” rating on shares.
From a total of 11 analysts covering Mellanox Tech (NASDAQ:MLNX) stock, 8 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 73% of the ratings are positive. The highest target price is $75 while the lowest target price is $45. The mean of all analyst targets is $60.91 with a 30.45% above today’s ($44.92) stock price. Mellanox Tech was the topic of 7 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray maintained shares on December 8 with “Overweight” rating. DA Davidson initiated MLNX stock in a recent report from September 24 with “Buy” rating.
The stock increased 0.47% or $0.21 on December 8, striking $44.92. Approximately shares of stock traded hands. Mellanox Technologies, Ltd. (NASDAQ:MLNX) has declined 3.75% since May 6, 2015 and is downtrending. It has underperformed by 2.95% the S&P500.
The overall sentiment of institutions has decreased to 1.06 in Q2 2015. Its down 0.91, from 1.97 in 2015Q2. The ratio dropped, as 40 institutions have sold all the shares of Mellanox Technologies, Ltd. that they owned while 55 funds have taken shares off the table. 32 funds have purchased shares for the first time while 69 added to their positions. These institutions now hold 29.86 million shares or 3.01% more than the 28.99 million shares they owned in 2015Q2.
The Fund Ion Asset Management Ltd. currently is holding shares equating to 5.99% of its total portfolio in Mellanox Technologies, Ltd. representing a total of 113,796 shares. Another fund,Sg Capital Management Llc, is holding a total of 595,021 shares equating to 4.97% of their holdings. Additionally, G2 Investment Partners Management Llc has a 254,156 share stake in Mellanox Technologies, Ltd. which represents 3.59% of their total portfolio. The Fund, Shannon River Fund Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 3.45% of their total portfolio. Finally Ardsley Advisory Partners, a fund which is based in the state of Connecticut reported a total holdings of 357,000 shares.
Insider activity is a very important aspect to track on any stock. Going back to April 27, 2015, shareholders of Mellanox Technologies, Ltd. have witnessed 0 insider purchases, and a total of 1 sale equating to a net activity of approximately $100,580 . Shulman Yakov (Jacob) sold 2,374 shares worth approximately $100,580. Sultzbaugh Marc sold 2,500 shares worth approximately $125,177. Ashuri Roni sold 24,000 shares worth approximately $1.18 million. Kagan Michael sold 10,000 shares worth approximately $494,628. The company insider Dorchak Glenda sold 2,000 shares worth $99,235.
Mellanox Technologies, Ltd. is a fabless semiconductor company. The company has a market cap of $2.09 billion. The Firm designs, makes and sells interconnect products and solutions based on the InfiniBand and Ethernet standards. It has 46.86 P/E ratio. The Company’s products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.
According to Zacks Investment Research, “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.” Get a free copy of the Zacks research report on Mellanox Technologies, Ltd. (MLNX).