Wall Street brokerages expect that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will post earnings of $0.61 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Mellanox Technologies’ earnings. The highest EPS estimate is $0.66 and the lowest is $0.53. Mellanox Technologies reported earnings of $0.29 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 110.3%. The company is expected to announce its next earnings results on Wednesday, April 25th.
On average, analysts expect that Mellanox Technologies will report full year earnings of $3.17 per share for the current fiscal year, with EPS estimates ranging from $2.89 to $3.33. For the next year, analysts expect that the company will post earnings of $3.92 per share, with EPS estimates ranging from $3.40 to $4.18. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover Mellanox Technologies.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings data on Thursday, January 18th. The semiconductor producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. Mellanox Technologies had a positive return on equity of 4.81% and a negative net margin of 2.25%. The company had revenue of $237.60 million during the quarter, compared to the consensus estimate of $235.43 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year.
Several analysts have issued reports on MLNX shares. JPMorgan Chase & Co. downgraded shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Stifel Nicolaus cut their target price 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. Barclays set a $47.00 target price on shares of Mellanox Technologies and gave the company a “sell” rating in a research note on Thursday, October 26th. Zacks Investment Research raised shares of Mellanox Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, DA Davidson boosted their target price on shares of Mellanox Technologies from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $67.45.
Shares of Mellanox Technologies (NASDAQ:MLNX) traded up $1.10 during trading hours on Tuesday, hitting $62.95. The stock had a trading volume of 428,720 shares, compared to its average volume of 666,154. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.12 and a quick ratio of 2.78. Mellanox Technologies has a one year low of $41.55 and a one year high of $69.00. The firm has a market cap of $3,210.00, a P/E ratio of -161.41, a PEG ratio of 2.05 and a beta of 0.71.
In other news, CFO Yakov (Jacob) Shulman sold 2,406 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $65.39, for a total value of $157,328.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Shai Cohen sold 35,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $66.04, for a total transaction of $2,311,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 1,292 shares of company stock worth $85,270 and sold 90,121 shares worth $5,815,915. Corporate insiders own 6.05% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MLNX. Meitav Dash Investments Ltd. acquired a new position in Mellanox Technologies during the fourth quarter worth $53,317,000. Menora Mivtachim Holdings LTD. increased its position in Mellanox Technologies by 36.2% during the third quarter. Menora Mivtachim Holdings LTD. now owns 1,834,105 shares of the semiconductor producer’s stock worth $86,478,000 after buying an additional 487,000 shares during the last quarter. Two Sigma Investments LP increased its position in Mellanox Technologies by 1,493.4% during the fourth quarter. Two Sigma Investments LP now owns 422,117 shares of the semiconductor producer’s stock worth $27,311,000 after buying an additional 395,626 shares during the last quarter. AO Asset Management LP acquired a new position in Mellanox Technologies during the fourth quarter worth $24,348,000. Finally, NWQ Investment Management Company LLC increased its position in Mellanox Technologies by 25.0% during the fourth quarter. NWQ Investment Management Company LLC now owns 1,661,267 shares of the semiconductor producer’s stock worth $107,484,000 after buying an additional 332,528 shares during the last quarter. 52.44% of the stock is currently owned by institutional investors and hedge funds.
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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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