A number of other equities research analysts also recently weighed in on MLNX. BidaskClub downgraded Mellanox Technologies from a hold rating to a sell rating in a report on Thursday, August 10th. Zacks Investment Research downgraded Mellanox Technologies from a strong-buy rating to a hold rating in a research note on Tuesday, August 1st. TheStreet downgraded Mellanox Technologies from a b- rating to a c rating in a research note on Friday, August 11th. Barclays PLC restated a buy rating and set a $50.00 price objective (down from $54.00) on shares of Mellanox Technologies in a research note on Thursday, July 27th. Finally, Credit Suisse Group set a $45.00 price objective on Mellanox Technologies and gave the stock a hold rating in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Mellanox Technologies has an average rating of Hold and a consensus target price of $50.88.
Shares of Mellanox Technologies (NASDAQ:MLNX) traded up 0.81% during trading on Tuesday, hitting $43.65. 347,254 shares of the stock were exchanged. The stock has a market cap of $2.20 billion, a PE ratio of 6235.71 and a beta of 0.69. The stock’s 50 day moving average price is $46.21 and its 200 day moving average price is $46.29. Mellanox Technologies has a one year low of $38.75 and a one year high of $52.80.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.93%. The firm had revenue of $212.00 million during the quarter, compared to the consensus estimate of $209.62 million. During the same quarter last year, the firm posted $0.87 earnings per share. Mellanox Technologies’s revenue was down 1.3% compared to the same quarter last year. Equities research analysts predict that Mellanox Technologies will post $2.14 EPS for the current year.
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In other news, Director Shai Cohen sold 50,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.16, for a total value of $2,358,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Yakov (Jacob) Shulman sold 2,407 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.00, for a total value of $113,129.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,453 shares of company stock valued at $3,402,241. 6.05% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its stake in shares of Mellanox Technologies by 4.6% in the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock worth $194,000 after purchasing an additional 199 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Mellanox Technologies by 4.6% in the second quarter. UBS Asset Management Americas Inc. now owns 21,011 shares of the semiconductor producer’s stock worth $910,000 after purchasing an additional 917 shares in the last quarter. Swiss National Bank grew its stake in shares of Mellanox Technologies by 2.2% in the second quarter. Swiss National Bank now owns 73,821 shares of the semiconductor producer’s stock worth $3,196,000 after purchasing an additional 1,600 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Mellanox Technologies in the second quarter worth $106,000. Finally, State Street Corp grew its stake in shares of Mellanox Technologies by 5.3% in the second quarter. State Street Corp now owns 53,753 shares of the semiconductor producer’s stock worth $2,329,000 after purchasing an additional 2,725 shares in the last quarter. 61.58% of the stock is owned by institutional investors.
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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