Can Mellanox Technologies, Ltd. (MLNX)’s Tomorrow be Different? The Stock Just Broke Its High

November 21, 2017 - By Winifred Garcia

Investors sentiment decreased to 0.93 in 2017 Q2. Its down 0.16, from 1.09 in 2017Q1. It dropped, as 20 investors sold Mellanox Technologies, Ltd. shares while 53 reduced holdings. 31 funds opened positions while 37 raised stakes. 29.75 million shares or 9.85% less from 32.99 million shares in 2017Q1 were reported.
Credit Agricole S A holds 29,300 shares or 0% of its portfolio. Canada Pension Plan Invest Board holds 26,315 shares. Pnc Fincl Gru reported 100,809 shares. Tradewinds Mngmt Ltd Liability Corporation reported 400 shares. Jpmorgan Chase Communication reported 48,284 shares. Geode Capital Limited Liability Com, Massachusetts-based fund reported 31,844 shares. Ivory Ltd Liability Corporation holds 182,365 shares. Envestnet Asset Management holds 0% of its portfolio in Mellanox Technologies, Ltd. (NASDAQ:MLNX) for 8,641 shares. Citadel Lc has 0% invested in Mellanox Technologies, Ltd. (NASDAQ:MLNX). Harber Asset Mngmt Limited Liability Company reported 1.33% stake. Creative Planning accumulated 163 shares. National Bank Of Montreal Can has 326 shares for 0% of their portfolio. 7,500 are owned by Eagle Glob Advsr Ltd. Tower Ltd Liability Com (Trc) holds 0% or 800 shares. Roystone Ltd Partnership invested in 93,000 shares.

The stock of Mellanox Technologies, Ltd. (NASDAQ:MLNX) hit a new 52-week high and has $60.29 target or 7.00 % above today’s $56.35 share price. The 9 months bullish chart indicates low risk for the $2.87 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $60.29 price target is reached, the company will be worth $200.90M 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.

About 1.80 million shares traded or 138.18% up from the average. Mellanox Technologies, Ltd. (NASDAQ:MLNX) has risen 12.09% since November 21, 2016 and is uptrending. It has underperformed by 4.61% the S&P500.

Investors wait Mellanox Technologies, Ltd. (NASDAQ:MLNX) to report on February, 7. its quarterly earnings Wall Street analysts expect $0.35 EPS, down $0.14 or 28.57 % from last year’s $0.49 same quarter earnings. This translates into $17.79 million profit for MLNX giving the stock a 40.32 P/E. This is assuming the current $0.35 EPS is accurate. Mellanox Technologies, Ltd.’s Wall Street analysts see 0.00 % EPS growth, taking into account the $0.35 EPS reproted in the previous quarter,

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

Among 16 analysts covering Mellanox Tech (NASDAQ:MLNX), 8 have Buy rating, 2 Sell and 6 Hold. Therefore 50% are positive. Mellanox Tech has $80 highest and $38.0 lowest target. $55.79’s average target is -0.99% below currents $56.35 stock price. Mellanox Tech had 37 analyst reports since July 23, 2015 according to SRatingsIntel. The company was maintained on Monday, July 10 by Jefferies. The stock of Mellanox Technologies, Ltd. (NASDAQ:MLNX) has “Underperform” rating given on Monday, November 21 by Jefferies. The firm earned “Buy” rating on Thursday, September 24 by DA Davidson. The stock of Mellanox Technologies, Ltd. (NASDAQ:MLNX) earned “Buy” rating by Stifel Nicolaus on Thursday, January 28. Brean Capital initiated it with “Buy” rating and $55 target in Monday, May 9 report. The stock has “Underweight” rating by Barclays Capital on Thursday, October 26. Credit Suisse upgraded the shares of MLNX in report on Monday, January 11 to “Outperform” rating. Roth Capital maintained it with “Hold” rating and $5300 target in Monday, July 24 report. The stock of Mellanox Technologies, Ltd. (NASDAQ:MLNX) has “Neutral” rating given on Thursday, October 26 by JP Morgan. As per Thursday, February 25, the company rating was reinitiated by JP Morgan.

More notable recent Mellanox Technologies, Ltd. (NASDAQ:MLNX) news were published by: Businesswire.com which released: “Mellanox Interconnect Solutions Boost Qualcomm Arm-Based Data Center Platforms …” on November 08, 2017, also Foxbusiness.com with their article: “Starboard Acquires Stake in Mellanox — WSJ” published on November 21, 2017, Wsj.com published: “Starboard Value Takes 10.7% Stake in Mellanox Technologies” on November 20, 2017. More interesting news about Mellanox Technologies, Ltd. (NASDAQ:MLNX) were released by: Nasdaq.com and their article: “Mellanox Technologies Breaks Above 200-Day Moving Average – Bullish for MLNX” published on October 30, 2017 as well as Seekingalpha.com‘s news article titled: “Mellanox Technologies’ (MLNX) CEO Eyal Waldman on Q3 2017 Results – Earnings …” with publication date: October 26, 2017.

Mellanox Technologies, Ltd. is a fabless semiconductor company. The company has market cap of $2.87 billion. The Firm is an integrated supplier of interconnect products and solutions based on the InfiniBand and Ethernet standards. It currently has negative earnings. The Firm operates in the development, manufacturing, marketing and sales of interconnect products segment.

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