Mellanox Technologies (Nasdaq:MLNX) is trading at unusually high volume Tuesday with 2.9 million shares changing hands. It is currently at two times its average daily volume and trading up $7.30 (+12.7%).
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Mellanox Technologies (Nasdaq: MLNX) is trading at unusually high volume Tuesday with 2.9 million shares changing hands. It is currently at two times its average daily volume and trading up $7.30 (+12.7%) at $64.89 as of 3:36 p.m. ET.
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Mellanox has a market cap of $2.39 billion and is part of the technology sector and electronics industry. Shares are down 6.2% 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 21.9, 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, notable return on equity, solid stock price performance and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Mellanox Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.