Legal & General Group Plc increased its stake in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 46.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,588 shares of the semiconductor producer’s stock after buying an additional 2,100 shares during the period. Legal & General Group Plc’s holdings in Mellanox Technologies were worth $311,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Mellanox Technologies in the 2nd quarter valued at approximately $122,000. Juncture Wealth Strategies LLC acquired a new position in shares of Mellanox Technologies in the 3rd quarter valued at approximately $222,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Mellanox Technologies in the 2nd quarter valued at approximately $259,000. Sciencast Management LP acquired a new position in shares of Mellanox Technologies in the 2nd quarter valued at approximately $333,000. Finally, Cubist Systematic Strategies LLC increased its position in Mellanox Technologies by 1,357.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,200 shares of the semiconductor producer’s stock worth $442,000 after purchasing an additional 9,500 shares in the last quarter. 60.81% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on MLNX shares. Zacks Investment Research cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Barclays lowered shares of Mellanox Technologies from an “overweight” rating to an “underweight” rating and reduced their target price for the stock from $50.00 to $48.00 in a report on Monday, October 9th. KeyCorp reissued a “hold” rating on shares of Mellanox Technologies in a report on Tuesday, October 17th. JPMorgan Chase & Co. lowered shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, October 26th. Finally, Stifel Nicolaus reduced their price objective on shares of Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Mellanox Technologies currently has a consensus rating of “Hold” and a consensus target price of $59.20.
Mellanox Technologies, Ltd. (MLNX) traded up $1.35 during trading on Friday, hitting $66.30. 330,287 shares of the company were exchanged, compared to its average volume of 329,275. The company has a quick ratio of 2.78, a current ratio of 3.12 and a debt-to-equity ratio of 0.17. Mellanox Technologies, Ltd. has a 52 week low of $40.70 and a 52 week high of $66.70. The firm has a market cap of $3,307.83, a P/E ratio of 69.10, a PEG ratio of 2.28 and a beta of 0.62.
Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $226.74 million. During the same quarter in the previous year, the company earned $0.93 EPS. Mellanox Technologies’s quarterly revenue was up .7% compared to the same quarter last year. analysts anticipate that Mellanox Technologies, Ltd. will post 0.84 earnings per share for the current fiscal year.
In other Mellanox Technologies news, VP Michael Kagan sold 2,500 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $47.50, for a total transaction of $118,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eyal Waldman sold 121,772 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $50.00, for a total transaction of $6,088,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 260,718 shares of company stock worth $13,455,300. Corporate insiders own 6.05% of the company’s stock.
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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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