Mellanox Technologies, Ltd. (NASDAQ:MLNX) – Investment analysts at KeyCorp boosted their Q2 2018 earnings per share (EPS) estimates for shares of Mellanox Technologies in a research report issued on Tuesday. KeyCorp analyst J. Vinh now anticipates that the semiconductor producer will post earnings of $0.45 per share for the quarter, up from their prior forecast of $0.31. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Mellanox Technologies’ FY2018 earnings at $2.06 EPS.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.07. The business had revenue of $225.70 million during the quarter, compared to the consensus estimate of $226.74 million. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. Mellanox Technologies’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 earnings per share.
Other research analysts also recently issued research reports about the company. DA Davidson boosted their price target on Mellanox Technologies to $75.00 and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised Mellanox Technologies from a “hold” rating to a “strong-buy” rating and set a $74.00 price target for the company in a research note on Wednesday, December 27th. Stifel Nicolaus boosted their price target on Mellanox Technologies from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. BidaskClub raised Mellanox Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. Finally, Barclays set a $47.00 price target on Mellanox Technologies and gave the company a “sell” rating in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.20.
Mellanox Technologies (NASDAQ MLNX) traded up $1.35 during mid-day trading on Friday, reaching $66.30. The company had a trading volume of 330,287 shares, compared to its average volume of 329,275. The firm has a market capitalization 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 has a fifty-two week low of $40.70 and a fifty-two week high of $66.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12.
In other Mellanox Technologies news, CFO Yakov (Jacob) Shulman sold 2,706 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $46.32, for a total transaction of $125,341.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shai Cohen sold 50,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $47.15, for a total value of $2,357,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 260,718 shares of company stock valued at $13,455,300. Insiders own 6.05% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Mellanox Technologies during the second quarter worth about $122,000. Legal & General Group Plc grew its holdings in shares of Mellanox Technologies by 4.6% during 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 during the last quarter. Juncture Wealth Strategies LLC bought a new stake in shares of Mellanox Technologies during the third quarter worth about $222,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Mellanox Technologies during the second quarter worth about $259,000. Finally, Sciencast Management LP bought a new stake in shares of Mellanox Technologies during the second quarter worth about $333,000. 60.81% of the stock is owned by hedge funds and other institutional investors.
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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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