Mellanox Stock Gaps Up On Today's Open (MLNX)

NEW YORK ( TheStreet) -- Shares of Mellanox Technologies (Nasdaq: MLNX) were gapping up Thursday morning with an open price 39.7% higher than Wednesday's closing price. The stock closed at $66.38 Wednesday and opened today's trading at $92.71.

The average volume for Mellanox has been 652,300 shares per day over the past 30 days. Mellanox has a market cap of $2.52 billion and is part of the technology sector and electronics industry. Shares are up 91.6% 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 44.1, below the average electronics industry P/E ratio of 103.7 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, compelling growth in net income, good cash flow from operations and expanding profit margins. 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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