Analysts predict that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will post earnings per share of $1.31 for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Mellanox Technologies’ earnings, with the highest EPS estimate coming in at $1.34 and the lowest estimate coming in at $1.23. Mellanox Technologies reported earnings of $0.82 per share during the same quarter last year, which would suggest a positive year over year growth rate of 59.8%. The firm is scheduled to issue its next earnings results on Thursday, January 17th.
On average, analysts expect that Mellanox Technologies will report full-year earnings of $4.87 per share for the current fiscal year, with EPS estimates ranging from $4.78 to $4.90. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.99 per share, with EPS estimates ranging from $5.54 to $6.55. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Mellanox Technologies.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Wednesday, October 24th. The semiconductor producer reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.13. Mellanox Technologies had a net margin of 8.57% and a return on equity of 14.72%. The firm had revenue of $279.20 million for the quarter, compared to analysts’ expectations of $275.49 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 23.7% on a year-over-year basis.
Several equities research analysts recently issued reports on MLNX shares. BidaskClub upgraded shares of Mellanox Technologies from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. Jefferies Financial Group raised their target price on shares of Mellanox Technologies from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Monday. ValuEngine cut shares of Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 4th. Zacks Investment Research upgraded shares of Mellanox Technologies from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Tuesday, October 9th. Finally, Bank of America started coverage on shares of Mellanox Technologies in a report on Wednesday, October 10th. They issued a “buy” rating and a $105.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Mellanox Technologies currently has a consensus rating of “Buy” and an average price target of $102.15.
In other Mellanox Technologies news, Director Amal M. Johnson sold 5,714 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $90.00, for a total value of $514,260.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Glenda Dorchak sold 5,000 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $85.01, for a total transaction of $425,050.00. The disclosure for this sale can be found here. Insiders sold 20,714 shares of company stock worth $1,700,610 over the last quarter. Insiders own 4.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MLNX. Morgan Stanley raised its position in Mellanox Technologies by 562.2% in the second quarter. Morgan Stanley now owns 1,072,024 shares of the semiconductor producer’s stock worth $90,373,000 after acquiring an additional 910,142 shares during the period. Renaissance Technologies LLC raised its position in Mellanox Technologies by 72.2% in the second quarter. Renaissance Technologies LLC now owns 681,483 shares of the semiconductor producer’s stock worth $57,449,000 after acquiring an additional 285,800 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its position in Mellanox Technologies by 15.2% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,132,734 shares of the semiconductor producer’s stock worth $179,789,000 after acquiring an additional 280,711 shares during the period. Senvest Management LLC raised its position in Mellanox Technologies by 16.3% in the third quarter. Senvest Management LLC now owns 1,986,776 shares of the semiconductor producer’s stock worth $145,929,000 after acquiring an additional 279,057 shares during the period. Finally, Neuberger Berman Group LLC raised its position in Mellanox Technologies by 22.1% in the third quarter. Neuberger Berman Group LLC now owns 1,394,062 shares of the semiconductor producer’s stock worth $102,389,000 after acquiring an additional 252,239 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.
Shares of MLNX stock opened at $94.57 on Thursday. Mellanox Technologies has a 12-month low of $57.25 and a 12-month high of $99.14. The company has a market capitalization of $4.97 billion, a P/E ratio of 103.92, a P/E/G ratio of 1.44 and a beta of 0.31.
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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