Stock Investors Bid Up Shares of Mellanox Technologies, Up 1.4%

Published on Wed, 06/17/2015 - 11:47
By Mallory Stone in Market movers, MLNX, market movers, mellanox technologies, nasdaq:mlnx

Mellanox Technologies (NASDAQ:MLNX), a company whose shares are moving quickly, is trading 1.3% higher to $52.28. The Dow is trading fractionally higher to 17,916 and the S&P is currently trading fractionally higher to 2,097.

There is potential upside of 12.0% for shares of Mellanox Technologies based on a current price of $52.28 and an average consensus analyst price target of $58.54. The stock should discover initial support at its 50-day moving average (MA) of $48.44 and subsequent support at its 200-day MA of $45.32.

Mellanox Technologies Ltd. designs and develops semiconductor-based, high-performance interconnect products. The Company's products facilitate data transmission between servers and storage systems through communications infrastructure equipment.

Over the past year, Mellanox Technologies has traded in a range of $24.51 to $120.05 and is now at $52.28, 113% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

By Mallory Stone
mstone@fnno.com

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