Market Overview

UPDATE: FBN Securities Downgrades Mellanox Technologies to Sector Perform on Lower Guidance

Related MLNX
The Top 25 Analysts On Wall Street
Mid-Morning Market Update: Markets Edge Lower; Macy's Lowers Full-Year Forecast
Is it Time to Buy Mellanox Technologies? (Fox Business)

FBN Securities reduced its rating on Mellanox Technologies (NASDAQ: MLNX) from Outperform to Sector Perform and lowered its price target from $100 to $60.

FBN Securities commented, "We are lowering our PT from $100 to $60 to reflect the recent trend of disappointing news (remember that the stock declined from around $105 to the $70s at the time of its Oct. earnings call on concerns about weaker guidance and declining margins; it previously guided FQ4 revenue of $145-150M, lower than prior $157M consensus, and it previously guided FQ4 NG GM at 68.5-69.5%, below our prior 70.5% at the time). Now, the company is lowering the revenue (but not GM) guidance further still, and still expects NG opex growth of 6-8% Q/Q."

Mellanox Technologies closed at $61.19 on Wednesday.

Latest Ratings for MLNX

DateFirmActionFromTo
Dec 2014BarclaysUpgradesEqual-weightOverweight
Dec 2014BarclaysUpgradesEqual-weightOverweight
Oct 2014Credit SuisseMaintainsNeutral

View More Analyst Ratings for MLNX
View the Latest Analyst Ratings

Posted-In: FBN SecuritiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (MLNX)

Around the Web, We're Loving...

Get Benzinga's Newsletters