Lion Point Capital LP bought a new position in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 170,000 shares of the semiconductor producer’s stock, valued at approximately $10,999,000. Mellanox Technologies makes up approximately 1.0% of Lion Point Capital LP’s investment portfolio, making the stock its 13th largest holding. Lion Point Capital LP owned about 0.33% of Mellanox Technologies as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor Group Inc. raised its holdings in Mellanox Technologies by 294.2% in the fourth quarter. Advisor Group Inc. now owns 1,573 shares of the semiconductor producer’s stock valued at $101,000 after acquiring an additional 1,174 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Mellanox Technologies by 404.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,765 shares of the semiconductor producer’s stock valued at $114,000 after acquiring an additional 1,415 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Mellanox Technologies in the fourth quarter valued at $166,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Mellanox Technologies by 36.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,955 shares of the semiconductor producer’s stock valued at $191,000 after acquiring an additional 788 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Mellanox Technologies in the fourth quarter valued at $257,000. 69.71% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on MLNX shares. DA Davidson upped their price target on shares of Mellanox Technologies to $75.00 and gave the company a “buy” rating in a report on Friday, January 12th. Piper Jaffray Companies reissued a “hold” rating and set a $73.00 target price on shares of Mellanox Technologies in a report on Friday, January 19th. Stifel Nicolaus increased their target price on shares of Mellanox Technologies from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Susquehanna Bancshares initiated coverage on shares of Mellanox Technologies in a report on Wednesday, December 13th. They set a “positive” rating and a $75.00 target price on the stock. Finally, Barclays raised shares of Mellanox Technologies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $47.00 to $55.00 in a report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Mellanox Technologies has a consensus rating of “Buy” and an average target price of $69.25.
Mellanox Technologies, Ltd. (NASDAQ MLNX) traded up $1.35 during trading on Friday, hitting $74.40. 707,407 shares of the stock traded hands, compared to its average volume of 575,406. The company has a market capitalization of $3,820.65, a price-to-earnings ratio of -190.38, a P/E/G ratio of 2.00 and a beta of 0.62. The company has a quick ratio of 2.25, a current ratio of 2.58 and a debt-to-equity ratio of 0.07. Mellanox Technologies, Ltd. has a fifty-two week low of $41.55 and a fifty-two week high of $74.50.
Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.68 by $0.14. The business had revenue of $237.60 million during the quarter, compared to analyst estimates of $235.43 million. Mellanox Technologies had a negative net margin of 2.25% and a positive return on equity of 4.76%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share. research analysts expect that Mellanox Technologies, Ltd. will post 2.45 earnings per share for the current year.
In related news, CEO Eyal Waldman sold 2,500 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $64.80, for a total value of $162,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Kagan sold 5,000 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $71.00, for a total transaction of $355,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 1,292 shares of company stock valued at $85,270 and have sold 79,971 shares valued at $5,299,940. 6.05% of the stock is currently owned by corporate insiders.
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Mellanox Technologies 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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