Mellanox Stock Hits New 52-Week High (MLNX)

NEW YORK ( TheStreet) -- Mellanox Technologies (Nasdaq: MLNX) hit a new 52-week high Tuesday as it is currently trading at $43.39, above its previous 52-week high of $42.50 with 58,114 shares traded as of 9:35 a.m. ET. Average volume has been 280,200 shares over the past 30 days.

Mellanox has a market cap of $1.67 billion and is part of the technology sector and electronics industry. Shares are up 28.1% year to date as of the close of trading on Monday.

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 158.2, below the average electronics industry P/E ratio of 160.4 and above the S&P 500 P/E ratio of 17.7.

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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