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TheStreet Wire

Mellanox Stock Hits New 52-Week High (MLNX)

By TheStreet Wire 02/24/12 - 10:40 AM EST

Find out if (MLNX) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Mellanox Technologies (Nasdaq:MLNX) hit a new 52-week high Friday as it is currently trading at $38.96, above its previous 52-week high of $38.70 with 37,137 shares traded as of 10:15 a.m. ET. Average volume has been 247,700 shares over the past 30 days.

Mellanox has a market cap of $1.26 billion and is part of the technology sector and electronics industry. Shares are up 16.8% year to date as of the close of trading on Thursday.

Mellanox Technologies, Ltd., a fabless semiconductor company, engages in the design, development, marketing, and sale of interconnect products primarily in North America, Israel, Europe, and Asia. The company has a P/E ratio of 35.4, below the average electronics industry P/E ratio of 266.1 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Mellanox as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Mellanox Ratings Report.

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