Jefferies: Time To Buy Mellanox Technologies (NASDAQ:MLNX)? Has $110 Valuation Target

October 2, 2018 - By Darrin Black

Mellanox Technologies, Ltd. (NASDAQ:MLNX) Logo

Investors sentiment decreased to 1.51 in Q2 2018. Its down 0.58, from 2.09 in 2018Q1. It turned negative, as 15 investors sold Mellanox Technologies, Ltd. shares while 56 reduced holdings. 54 funds opened positions while 53 raised stakes. 36.61 million shares or 1.75% more from 35.98 million shares in 2018Q1 were reported.

Two Sigma Secs Ltd Liability Com has invested 0% in Mellanox Technologies, Ltd. (NASDAQ:MLNX). Axa has 0.02% invested in Mellanox Technologies, Ltd. (NASDAQ:MLNX) for 62,000 shares. Clinton Gru Inc, a New York-based fund reported 38,169 shares. Cookson Peirce And Incorporated stated it has 1.49% in Mellanox Technologies, Ltd. (NASDAQ:MLNX). Trexquant Lp holds 0.06% or 9,897 shares. Sphera Funds Ltd reported 1% in Mellanox Technologies, Ltd. (NASDAQ:MLNX). The California-based Schwab Charles Mgmt has invested 0% in Mellanox Technologies, Ltd. (NASDAQ:MLNX). Bowen Hanes And Inc has 0.91% invested in Mellanox Technologies, Ltd. (NASDAQ:MLNX) for 230,000 shares. Menta Cap Ltd Llc holds 0.93% of its portfolio in Mellanox Technologies, Ltd. (NASDAQ:MLNX) for 47,401 shares. Hbk Invs Lp owns 46,417 shares. Moreover, Raymond James & has 0.01% invested in Mellanox Technologies, Ltd. (NASDAQ:MLNX) for 49,784 shares. 9,653 were accumulated by Janney Montgomery Scott Ltd. Advisory Services Ntwk Ltd owns 1,079 shares. Pennsylvania-based Brinker Cap has invested 0.02% in Mellanox Technologies, Ltd. (NASDAQ:MLNX). Natl Bank Hapoalim Bm holds 0.28% or 11,952 shares.

Since May 1, 2018, it had 0 insider buys, and 12 insider sales for $64.16 million activity. Sultzbaugh Marc also sold $1.72M worth of Mellanox Technologies, Ltd. (NASDAQ:MLNX) shares. 344,677 shares were sold by STARBOARD LEADERS FUND LP, worth $29.31M on Monday, July 9. Kagan Michael also sold $241,500 worth of Mellanox Technologies, Ltd. (NASDAQ:MLNX) shares. $324,767 worth of Mellanox Technologies, Ltd. (NASDAQ:MLNX) shares were sold by Shulman Yakov (Jacob). On Monday, July 23 the insider Dorchak Glenda sold $830,849. 344,677 shares were sold by Starboard Value LP, worth $29.31M.

Why Has Jefferies Given Mellanox Technologies (NASDAQ:MLNX) a $110 Price Target

The firm Jefferies has today initiated coverage on Mellanox Technologies (NASDAQ:MLNX) shares, with a “Buy” rating, while setting the price target at $110.

Mellanox Technologies, Ltd. (NASDAQ:MLNX) Ratings Coverage

Among 7 analysts covering Mellanox Technologies (NASDAQ:MLNX), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. Mellanox Technologies has $107 highest and $75 lowest target. $94.20’s average target is 24.83% above currents $75.465 stock price. Mellanox Technologies had 9 analyst reports since April 12, 2018 according to SRatingsIntel. Piper Jaffray maintained Mellanox Technologies, Ltd. (NASDAQ:MLNX) rating on Tuesday, April 17. Piper Jaffray has “Hold” rating and $8400 target. The stock has “Positive” rating by Susquehanna on Tuesday, April 17. As per Tuesday, April 17, the company rating was maintained by Rosenblatt. The company was upgraded on Thursday, April 12 by Barclays Capital. The company was maintained on Thursday, May 17 by Susquehanna. Barclays Capital maintained the stock with “Overweight” rating in Wednesday, July 18 report. Stifel Nicolaus maintained the stock with “Buy” rating in Tuesday, April 17 report. The stock of Mellanox Technologies, Ltd. (NASDAQ:MLNX) has “Overweight” rating given on Friday, May 18 by PiperJaffray. The firm earned “Neutral” rating on Wednesday, April 18 by Credit Suisse.

The stock increased 2.74% or $2.015 during the last trading session, reaching $75.465. About 60,432 shares traded. Mellanox Technologies, Ltd. (NASDAQ:MLNX) has risen 64.44% since October 2, 2017 and is uptrending. It has outperformed by 48.82% the S&P500.

Analysts await Mellanox Technologies, Ltd. (NASDAQ:MLNX) to report earnings on October, 24. They expect $0.85 earnings per share, up 142.86 % or $0.50 from last year’s $0.35 per share. MLNX’s profit will be $45.02M for 22.20 P/E if the $0.85 EPS becomes a reality. After $1.03 actual earnings per share reported by Mellanox Technologies, Ltd. for the previous quarter, Wall Street now forecasts -17.48 % negative EPS growth.

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, makes, and sells interconnect products and solutions. The company has market cap of $4.00 billion. The Company’s products facilitate data transmission between servers, storage systems, communications infrastructure equipment, and other embedded systems. It has a 72.22 P/E ratio. The firm offers InfiniBand solutions, including switch and gateway integrated circuits , adapter cards, cables, modules, and software, as well as switch, gateway, and long-haul systems; Ethernet solution for use in enterprise data center, high-performance computing, embedded environments, hyperscale Web 2.0, and cloud data centers; and Ethernet adapters.

More recent Mellanox Technologies, Ltd. (NASDAQ:MLNX) news were published by: Nasdaq.com which released: “Recent Analysis Shows Golar LNG, Grupo Aeroportuario del Centro Norte SAB de CV, Oracle, Ross Stores, Mellanox …” on September 27, 2018. Also Streetinsider.com published the news titled: “Mellanox Technologies (MLNX) to Accelerate DOE’s National Renewable Energy Laboratory’s New Supercomputer” on September 24, 2018. Nasdaq.com‘s news article titled: “Buy Semiconductors on the Dip? 3 Stocks to Consider Now” with publication date: September 12, 2018 was also an interesting one.

Mellanox Technologies, Ltd. (NASDAQ:MLNX) Ratings Chart

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