Mellanox Technologies, Ltd. (NASDAQ:MLNX) released its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07, Briefing.com reports. The business had revenue of $225.70 million during the quarter, compared to analyst estimates of $226.74 million. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. Mellanox Technologies’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $0.93 EPS. Mellanox Technologies updated its Q4 guidance to $0.61-0.83 EPS.
Mellanox Technologies (MLNX) opened at $49.10 on Friday. The company has a quick ratio of 2.43, a current ratio of 3.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2,503.15, a P/E ratio of 52.29, a P/E/G ratio of 3.41 and a beta of 0.54. Mellanox Technologies has a 1-year low of $38.75 and a 1-year high of $52.79.
In related news, CFO Yakov (Jacob) Shulman sold 2,706 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $46.32, for a total value of $125,341.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael Kagan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $46.56, for a total transaction of $116,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 62,706 shares of company stock worth $2,943,042. 6.05% of the stock is currently owned by insiders.
An institutional investor recently raised its position in Mellanox Technologies stock. State Street Corp lifted its stake in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 5.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,753 shares of the semiconductor producer’s stock after buying an additional 2,725 shares during the quarter. State Street Corp owned approximately 0.11% of Mellanox Technologies worth $2,329,000 at the end of the most recent reporting period. 62.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on MLNX shares. BidaskClub lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Stifel Nicolaus reduced their price objective on shares of Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Credit Suisse Group set a $45.00 price objective on shares of Mellanox Technologies and gave the company a “hold” rating in a research note on Thursday, July 27th. Finally, Barclays PLC lowered shares of Mellanox Technologies from an “overweight” rating to an “underweight” rating and reduced their price objective for the company from $50.00 to $48.00 in a research note on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $51.00.
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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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