NEW YORK (

TheStreet

) --

Mellanox Technologies

(Nasdaq:

MLNX

) hit a new 52-week high Thursday as it is currently trading at $97.70, above its previous 52-week high of $96.50 with 663,778 shares traded as of 10 a.m. ET. Average volume has been 811,300 shares over the past 30 days.

Mellanox has a market cap of $3.67 billion and is part of the

technology

sector and

electronics

industry. Shares are up 187.6% year to date as of the close of trading on Wednesday.

Mellanox technologies, Ltd., a fabless semiconductor company, produces and supplies interconnect products for computing, storage, and communication applications in the computing, Web 2.0, storage, financial services, database, and cloud markets. The company has a P/E ratio of 43.5, below the average electronics industry P/E ratio of 70.7 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, expanding profit margins, good cash flow from operations and compelling growth in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full

Mellanox Ratings Report

.

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