Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 0.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,152,909 shares of the semiconductor producer’s stock after acquiring an additional 20,175 shares during the quarter. Mellanox Technologies makes up about 4.2% of Clal Insurance Enterprises Holdings Ltd’s investment portfolio, making the stock its 5th biggest position. Clal Insurance Enterprises Holdings Ltd’s holdings in Mellanox Technologies were worth $158,131,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Fortis Advisors LLC bought a new position in Mellanox Technologies during the 2nd quarter worth $122,000. Cerebellum GP LLC bought a new position in Mellanox Technologies during the 2nd quarter worth $176,000. Empirical Finance LLC bought a new position in Mellanox Technologies during the 2nd quarter worth $213,000. USA Financial Portformulas Corp bought a new position in Mellanox Technologies during the 3rd quarter worth $253,000. Finally, Schwab Charles Investment Management Inc. bought a new position in Mellanox Technologies during the 2nd quarter worth $257,000. Hedge funds and other institutional investors own 75.41% of the company’s stock.
In related news, Director Glenda Dorchak sold 5,000 shares of the firm’s stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $85.01, for a total transaction of $425,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Marc Sultzbaugh sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $76.13, for a total value of $761,300.00. The disclosure for this sale can be found here. Insiders have sold 18,339 shares of company stock valued at $1,462,809 in the last ninety days. Company insiders own 4.20% of the company’s stock.
A number of research analysts recently commented on MLNX shares. BidaskClub upgraded Mellanox Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Rosenblatt Securities reissued a “hold” rating on shares of Mellanox Technologies in a research note on Wednesday, July 18th. Piper Jaffray Companies reissued a “buy” rating and issued a $110.00 price target on shares of Mellanox Technologies in a research note on Wednesday, July 18th. Benchmark increased their price target on Mellanox Technologies from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Finally, Barclays increased their price target on Mellanox Technologies from $103.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $100.62.
NASDAQ:MLNX opened at $87.10 on Friday. Mellanox Technologies, Ltd. has a 1 year low of $43.55 and a 1 year high of $90.45. The firm has a market capitalization of $4.36 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 1.22 and a beta of 0.54.
Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings results on Wednesday, October 24th. The semiconductor producer reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.13. Mellanox Technologies had a return on equity of 15.11% and a net margin of 8.57%. The company had revenue of $279.20 million during the quarter, compared to analysts’ expectations of $275.49 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, research analysts expect that Mellanox Technologies, Ltd. will post 3.56 EPS for the current year.
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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