Maxim Group Initiates Coverage on Mellanox Technologies (MLNX)
Equities research analysts at Maxim Group initiated coverage on shares of Mellanox Technologies (NASDAQ: MLNX) in a research note issued to investors on Friday. The firm set a “buy” rating and a $65.00 price target on the stock.
MLNX has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus raised their price target on shares of Mellanox Technologies from $45.00 to $63.00 in a research note to investors on Thursday, April 19th. They now have a “buy” rating on the stock. Separately, analysts at Lazard Capital upgraded shares of Mellanox Technologies from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, April 19th. Finally, analysts at Mizuho upgraded shares of Mellanox Technologies from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, April 19th. They now have a $65.00 price target on the stock, up previously from $42.00.
Mellanox Technologies opened at 57.65 on Friday. Mellanox Technologies has a 52-week low of $25.81 and a 52-week high of $67.20. The company has a market cap of $2.307 billion and a price-to-earnings ratio of 97.22.
The company last announced its quarterly results on Wednesday, April 18th. It reported $0.51 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.33 EPS by $0.18. The company’s quarterly revenue was up 61.1% on a year-over-year basis. Analysts expect that Mellanox Technologies will post $0.68 EPS next quarter.
Mellanox Technologies, Ltd. (Mellanox) is a fabless semiconductor company that produces and supplies interconnect products that facilitate data transmission between servers, storage systems and communications infrastructure equipment and other embedded systems.