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Mellanox (MLNX) in Focus: Stock Moves 7.8% Higher

Zacks

Mellanox Technologies, Ltd. MLNX was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 18.7% in the past one-month time frame.

The move came after the company reported that it will be acquired by NVIDIA for $6.9 billion.

The company has seen five positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few months, suggesting that more solid trading could be ahead for Mellanox. So, make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

Mellanox currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.


Another stock worth considering in the Electronics – Semiconductors industry is Synaptics Incorporated SYNA which carries a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.

Is MLNX going up? Or down? Predict to see what others think:

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