In a report released today, Ryan Koontz from Rosenblatt Securities maintained a Hold rating on Mellanox (NASDAQ: MLNX). The company’s shares opened today at $87.25, close to its 52-week high of $90.45.
Mellanox has an analyst consensus of Strong Buy, with a price target consensus of $110.38.
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Based on Mellanox’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $16.53 million. In comparison, last year the company had a GAAP net loss of $7.99 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. Last month, Marc Sultzbaugh, the Sr. VP World Wide Sales of MLNX sold 20,000 shares for a total of $1,724,567.
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Mellanox Technologies Ltd. engages in the development, manufacture, marketing and sale of interconnect products. It includes integrated circuits, adapter cards, switch systems, multi-core and network processors, systems on a chip, cables, modules, software, services, and accessories.
