Mellanox Technologies, Ltd. (MLNX) Director Glenda Dorchak Sells 8,000 Shares
Mellanox Technologies, Ltd. (NASDAQ:MLNX) Director Glenda Dorchak sold 8,000 shares of Mellanox Technologies stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $50.00, for a total transaction of $400,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) opened at $49.10 on Tuesday. Mellanox Technologies, Ltd. has a 12 month low of $38.75 and a 12 month high of $52.79. The company has a quick ratio of 2.78, a current ratio of 3.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2,500.60, a P/E ratio of 52.23, a P/E/G ratio of 3.40 and a beta of 0.54.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The company had revenue of $225.70 million during the quarter, compared to the consensus estimate of $226.74 million. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. equities research analysts forecast that Mellanox Technologies, Ltd. will post 0.83 EPS for the current fiscal year.
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A number of institutional investors have recently modified their holdings of MLNX. UBS Asset Management Americas Inc. lifted its stake in Mellanox Technologies by 25.2% in the first quarter. UBS Asset Management Americas Inc. now owns 20,094 shares of the semiconductor producer’s stock worth $1,024,000 after acquiring an additional 4,047 shares during the last quarter. Vanguard Group Inc. lifted its stake in Mellanox Technologies by 7.1% in the first quarter. Vanguard Group Inc. now owns 133,428 shares of the semiconductor producer’s stock worth $6,798,000 after acquiring an additional 8,841 shares during the last quarter. Geode Capital Management LLC lifted its stake in Mellanox Technologies by 16.3% in the first quarter. Geode Capital Management LLC now owns 27,026 shares of the semiconductor producer’s stock worth $1,376,000 after acquiring an additional 3,784 shares during the last quarter. Paloma Partners Management Co purchased a new position in Mellanox Technologies in the first quarter worth approximately $306,000. Finally, Wellington Shields & Co. LLC purchased a new position in Mellanox Technologies in the second quarter worth approximately $264,000. Institutional investors own 59.41% of the company’s stock.
A number of equities research analysts have weighed in on MLNX shares. BidaskClub cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Stifel Nicolaus dropped their price target on shares of Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. Credit Suisse Group set a $45.00 price target on shares of Mellanox Technologies and gave the company a “hold” rating in a research report on Thursday, July 27th. Finally, Barclays PLC cut shares of Mellanox Technologies from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $50.00 to $48.00 in a report on Monday, October 9th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $51.00.
Mellanox Technologies Company Profile
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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