Q3 2017 EPS Estimates for Mellanox Technologies, Ltd. Decreased by Analyst (NASDAQ:MLNX)
Mellanox Technologies, Ltd. (NASDAQ:MLNX) – Research analysts at DA Davidson cut their Q3 2017 EPS estimates for shares of Mellanox Technologies in a research report issued to clients and investors on Monday. DA Davidson analyst M. Kelleher now forecasts that the semiconductor producer will post earnings per share of $0.31 for the quarter, down from their prior forecast of $0.34. DA Davidson also issued estimates for Mellanox Technologies’ Q4 2017 earnings at $0.41 EPS, FY2017 earnings at $0.84 EPS, Q1 2018 earnings at $0.19 EPS, Q2 2018 earnings at $0.29 EPS, Q3 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.56 EPS and FY2018 earnings at $1.51 EPS.
MLNX has been the subject of several other research reports. Zacks Investment Research lowered shares of Mellanox Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 3rd. BidaskClub lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reiterated an “underperform” rating and issued a $38.00 price objective on shares of Mellanox Technologies in a research note on Tuesday, June 20th. Credit Suisse Group lowered shares of Mellanox Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $50.00 to $45.00 in a research note on Thursday, April 27th. Finally, Barclays PLC reiterated a “buy” rating and issued a $50.00 price objective (down previously from $54.00) on shares of Mellanox Technologies in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Mellanox Technologies currently has an average rating of “Hold” and a consensus target price of $49.86.
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Mellanox Technologies (NASDAQ MLNX) opened at 44.70 on Wednesday. The firm’s 50-day moving average price is $44.54 and its 200-day moving average price is $47.31. Mellanox Technologies has a 12 month low of $38.75 and a 12 month high of $52.80. The firm has a market cap of $2.24 billion, a P/E ratio of 6385.71 and a beta of 0.68.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $212 million for the quarter, compared to analyst estimates of $209.62 million. Mellanox Technologies had a return on equity of 5.93% and a net margin of 0.09%. Mellanox Technologies’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.87 EPS.
Several large investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Mellanox Technologies during the fourth quarter valued at about $13,983,000. Stifel Financial Corp raised its stake in shares of Mellanox Technologies by 1.0% in the first quarter. Stifel Financial Corp now owns 79,712 shares of the semiconductor producer’s stock valued at $4,053,000 after buying an additional 758 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Mellanox Technologies during the first quarter valued at about $22,861,000. Canada Pension Plan Investment Board raised its stake in shares of Mellanox Technologies by 395.1% in the first quarter. Canada Pension Plan Investment Board now owns 26,315 shares of the semiconductor producer’s stock valued at $1,341,000 after buying an additional 21,000 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Mellanox Technologies by 57.7% in the first quarter. JPMorgan Chase & Co. now owns 151,088 shares of the semiconductor producer’s stock valued at $7,697,000 after buying an additional 55,275 shares during the last quarter. Institutional investors own 67.63% of the company’s stock.
In other news, Director Shai Cohen sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total transaction of $2,358,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Yakov (Jacob) Shulman sold 2,407 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $47.00, for a total transaction of $113,129.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,953 shares of company stock valued at $3,060,791. 6.05% of the stock is currently owned by company insiders.
About Mellanox Technologies
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company is an integrated supplier of interconnect products and solutions based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.
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