Mellanox Technologies Ltd. (MLNX) : Analyst Rating Update

Mellanox Technologies Ltd. (MLNX) : The consensus on Mellanox Technologies Ltd. (MLNX) based on 12 analyst recommendation on the company stock is 1.5, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 9 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Mellanox Technologies Ltd. (MLNX) : Average target price received by Mellanox Technologies Ltd. (MLNX) is $63.27 with an expected standard deviation of $10.3. The most aggressive target on the stock is $85, whereas the most downbeat target is $50. 11 financial analysts are currently covering the stock.

Mellanox Technologies Ltd. (NASDAQ:MLNX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $46.28 and $45.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $48.10. The buying momentum continued till the end and the stock did not give up its gains. It closed at $47.85, notching a gain of 3.10% for the day. The total traded volume was 578,058 . The stock had closed at $46.41 on the previous day.

Also, Summit Redstone Partners initiates coverage on Mellanox Technologies Ltd. (NASDAQ:MLNX). The shares have now been rated Buy by the stock experts at the ratings house. Summit Redstone Partners announces the current price target of $65 per share on Mellanox Technologies Ltd.. The rating by the firm was issued on June 21, 2016. The company shares have rallied 1.89% from its 1 Year high price. On Mar 23, 2016, the shares registered one year high at $55.80 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $47.09 and the 200 Day Moving Average price is recorded at $46.69.

Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company designs, manufactures and sells interconnect products and solutions based on the InfiniBand and Ethernet standards. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems. Its products include integrated circuits (ICs), adapter cards, switch systems, cables, modules, software, services and accessories for networking solution focused on computing, storage and communication applications used in multiple markets, including high-performance computing, Web 2.0, storage, financial services, enterprise data center and cloud. Its InfiniBand products include adapter ICs and cards (ConnectX and Connect-IB product family) and switch ICs (InfiniScale, SwitchX, SwitchX-2 and Switch-IB product families) and systems, gateway ICs (BridgeX product family) and gateway systems, long-haul systems (MetroX), software, cables and modules.

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