Mellanox Technologies, Ltd. (MLNX) Sets 52-Week High; Strong Momentum for Holders

January 21, 2018 - By Peter Erickson

Investors sentiment increased to 0.95 in 2017 Q3. Its up 0.02, from 0.93 in 2017Q2. It increased, as 23 investors sold Mellanox Technologies, Ltd. shares while 40 reduced holdings. 17 funds opened positions while 43 raised stakes. 29.80 million shares or 0.19% more from 29.75 million shares in 2017Q2 were reported.
213,572 are held by Ivory Investment Management Ltd Limited Liability Company. Canada Pension Plan Board holds 89,615 shares or 0.01% of its portfolio. Granahan Invest Management Ma reported 81,600 shares. Blackrock Incorporated invested 0% in Mellanox Technologies, Ltd. (NASDAQ:MLNX). Cubist Systematic Strategies Ltd Co holds 0.02% or 6,301 shares in its portfolio. Ubs Asset Mngmt Americas, a Illinois-based fund reported 21,094 shares. Magnetar Llc holds 0% or 4,264 shares in its portfolio. Fincl Bank Of Montreal Can owns 326 shares. State Street holds 57,816 shares or 0% of its portfolio. Menora Mivtachim Limited has invested 3.51% in Mellanox Technologies, Ltd. (NASDAQ:MLNX). Moreover, Vanguard Group has 0% invested in Mellanox Technologies, Ltd. (NASDAQ:MLNX) for 151,551 shares. Peak6 Invs L P holds 0% or 12,408 shares in its portfolio. Credit Suisse Ag reported 20,102 shares or 0% of all its holdings. Eagle Glob Advsrs Ltd Llc invested 0.01% of its portfolio in Mellanox Technologies, Ltd. (NASDAQ:MLNX). Cipher Ltd Partnership reported 4,961 shares or 0.02% of all its holdings.

Since July 31, 2017, it had 0 buys, and 7 insider sales for $4.23 million activity. 5,000 shares valued at $231,790 were sold by Sultzbaugh Marc on Friday, September 8. Shares for $356,815 were sold by Dorchak Glenda. Kagan Michael also sold $225,050 worth of Mellanox Technologies, Ltd. (NASDAQ:MLNX) on Monday, August 28. 12,590 shares were sold by Shulman Yakov (Jacob), worth $827,730 on Tuesday, January 2.

The stock of Mellanox Technologies, Ltd. (NASDAQ:MLNX) hit a new 52-week high and has $70.35 target or 7.00 % above today’s $65.75 share price. The 6 months bullish chart indicates low risk for the $3.35 billion company. The 1-year high was reported on Jan, 21 by Barchart.com. If the $70.35 price target is reached, the company will be worth $234.43 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.00% or $0.65 during the last trading session, reaching $65.75. About 2.01M shares traded or 170.60% up from the average. Mellanox Technologies, Ltd. (NASDAQ:MLNX) has risen 12.09% since January 21, 2017 and is uptrending. It has underperformed by 4.61% the S&P500.

Analysts await Mellanox Technologies, Ltd. (NASDAQ:MLNX) to report earnings on February, 7. They expect $0.35 earnings per share, down 28.57 % or $0.14 from last year’s $0.49 per share. MLNX’s profit will be $17.83M for 46.96 P/E if the $0.35 EPS becomes a reality. After $0.35 actual earnings per share reported by Mellanox Technologies, Ltd. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

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

Among 19 analysts covering Mellanox Tech (NASDAQ:MLNX), 10 have Buy rating, 1 Sell and 8 Hold. Therefore 53% are positive. Mellanox Tech had 47 analyst reports since July 23, 2015 according to SRatingsIntel. As per Thursday, December 7, the company rating was maintained by Piper Jaffray. The firm has “Overweight” rating given on Tuesday, December 8 by Piper Jaffray. On Wednesday, February 24 the stock rating was upgraded by Topeka Capital Markets to “Buy”. The firm has “Underweight” rating given on Thursday, October 26 by Barclays Capital. Stifel Nicolaus maintained Mellanox Technologies, Ltd. (NASDAQ:MLNX) rating on Thursday, July 23. Stifel Nicolaus has “Buy” rating and $75 target. On Friday, January 19 the stock rating was upgraded by CFRA to “Buy”. The rating was maintained by Piper Jaffray on Friday, January 19 with “Hold”. The firm has “Buy” rating by Stifel Nicolaus given on Monday, September 25. The stock has “Hold” rating by Topeka Capital Markets on Thursday, January 28. KeyBanc Capital Markets maintained Mellanox Technologies, Ltd. (NASDAQ:MLNX) on Monday, October 16 with “Hold” rating.

More important recent Mellanox Technologies, Ltd. (NASDAQ:MLNX) news were published by: Nasdaq.com which released: “Mellanox Technologies Ltd. (MLNX) Has Risen To A New High On Q4 Results” on January 19, 2018, also Businesswire.com published article titled: “Mellanox Technologies, Ltd. Schedules Release of Fourth Quarter 2017 Financial …”, Nasdaq.com published: “Earnings Reaction History: Mellanox Technologies, Ltd., 40.0% Follow-Through …” on January 18, 2018. More interesting news about Mellanox Technologies, Ltd. (NASDAQ:MLNX) was released by: Seekingalpha.com and their article: “Mellanox Tech +5.2% after Q4 beats, upside revenue guidance” with publication date: January 18, 2018.

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, makes, and sells interconnect products and solutions. The company has market cap of $3.35 billion. The Company’s products facilitate data transmission between servers, storage systems, communications infrastructure equipment, and other embedded systems. It currently has negative earnings. 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.

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