Analysts expect Mellanox Technologies (NASDAQ:MLNX) to report sales of $260.00 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Mellanox Technologies’ earnings, with the highest sales estimate coming in at $262.00 million and the lowest estimate coming in at $257.00 million. Mellanox Technologies posted sales of $211.96 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.7%. The company is expected to report its next earnings report on Wednesday, July 25th.
On average, analysts expect that Mellanox Technologies will report full year sales of $1.04 billion for the current fiscal year, with estimates ranging from $1.04 billion to $1.05 billion. For the next year, analysts expect that the firm will report sales of $1.12 billion per share, with estimates ranging from $1.10 billion to $1.14 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Mellanox Technologies.
Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings data on Tuesday, April 17th. The semiconductor producer reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.13. Mellanox Technologies had a return on equity of 8.18% and a net margin of 3.31%. The business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $244.93 million. During the same quarter last year, the business posted $0.29 EPS. The business’s revenue was up 33.0% on a year-over-year basis.
Several equities research analysts have weighed in on MLNX shares. Stifel Nicolaus increased their price objective on Mellanox Technologies from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. BidaskClub upgraded Mellanox Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 24th. Zacks Investment Research upgraded Mellanox Technologies from a “hold” rating to a “strong-buy” rating and set a $74.00 price objective for the company in a report on Wednesday, December 27th. Summit Redstone set a $75.00 price objective on Mellanox Technologies and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Benchmark increased their price objective on Mellanox Technologies from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Mellanox Technologies presently has an average rating of “Buy” and an average target price of $79.58.
NASDAQ MLNX traded down $1.50 on Friday, hitting $75.75. The company’s stock had a trading volume of 418,833 shares, compared to its average volume of 519,863. Mellanox Technologies has a 52-week low of $41.55 and a 52-week high of $79.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.25 and a current ratio of 2.58. The stock has a market cap of $4,029.32, a P/E ratio of 83.24, a price-to-earnings-growth ratio of 2.07 and a beta of 0.54.
In other news, VP Michael Kagan sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $71.00, for a total value of $355,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eyal Waldman sold 1,975 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $65.23, for a total value of $128,829.25. The disclosure for this sale can be found here. In the last 90 days, insiders bought 1,292 shares of company stock valued at $85,270 and sold 54,381 shares valued at $3,628,808. Company insiders own 6.05% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MLNX. State Street Corp lifted its stake in shares of Mellanox Technologies by 5.3% in the 2nd quarter. State Street Corp now owns 53,753 shares of the semiconductor producer’s stock valued at $2,329,000 after purchasing an additional 2,725 shares during the period. Legal & General Group Plc lifted its stake in shares of Mellanox Technologies by 46.8% in the 3rd quarter. Legal & General Group Plc now owns 6,588 shares of the semiconductor producer’s stock valued at $311,000 after purchasing an additional 2,100 shares during the period. OxFORD Asset Management LLP purchased a new position in shares of Mellanox Technologies in the 3rd quarter valued at approximately $390,000. Stifel Financial Corp lifted its stake in shares of Mellanox Technologies by 9.2% in the 3rd quarter. Stifel Financial Corp now owns 63,589 shares of the semiconductor producer’s stock valued at $2,993,000 after purchasing an additional 5,354 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Mellanox Technologies by 4.8% in the 3rd quarter. California Public Employees Retirement System now owns 99,332 shares of the semiconductor producer’s stock valued at $4,684,000 after purchasing an additional 4,532 shares during the period. Institutional investors own 68.07% of the company’s stock.
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About Mellanox Technologies
Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, and sells interconnect products and solutions worldwide. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment, and other embedded systems. The company offers InfiniBand solutions, including switch and gateway integrated circuits (ICs), adapter cards, cables, modules, and software, as well as switch, gateway, and long-haul systems; Ethernet solutions, such as Ethernet switch products and Ethernet adapters for use in enterprise data center, high-performance computing, embedded environments, hyperscale, Web 2.0, and cloud data centers.
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