MML Investors Services LLC boosted its holdings in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 57.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,739 shares of the semiconductor producer’s stock after acquiring an additional 1,736 shares during the period. MML Investors Services LLC’s holdings in Mellanox Technologies were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Fortis Advisors LLC acquired a new stake in Mellanox Technologies in the 2nd quarter valued at about $122,000. USA Financial Portformulas Corp acquired a new stake in Mellanox Technologies in the 3rd quarter valued at about $253,000. Pitcairn Co. acquired a new stake in Mellanox Technologies in the 3rd quarter valued at about $253,000. Juncture Wealth Strategies LLC acquired a new stake in Mellanox Technologies in the 3rd quarter valued at about $256,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in Mellanox Technologies in the 2nd quarter valued at about $257,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on MLNX shares. BidaskClub cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 17th. ValuEngine cut shares of Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. Zacks Investment Research cut shares of Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Jefferies Financial Group started coverage on shares of Mellanox Technologies in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $110.00 price objective on the stock. Finally, Bank of America started coverage on shares of Mellanox Technologies in a research note on Wednesday, October 10th. They issued a “buy” rating and a $105.00 price objective on the stock. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $102.15.
In other news, Director Glenda Dorchak sold 5,000 shares of the stock in a transaction dated Friday, October 26th. The shares were sold at an average price of $85.01, for a total transaction of $425,050.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amal M. Johnson sold 5,714 shares of the stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $90.00, for a total transaction of $514,260.00. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.
NASDAQ:MLNX opened at $92.03 on Friday. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 1.40 and a beta of 0.31. Mellanox Technologies, Ltd. has a 12-month low of $58.40 and a 12-month high of $99.14.
Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Wednesday, October 24th. The semiconductor producer reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.13. The company had revenue of $279.20 million for the quarter, compared to analyst estimates of $275.49 million. Mellanox Technologies had a net margin of 8.57% and a return on equity of 14.72%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. As a group, equities research analysts predict that Mellanox Technologies, Ltd. will post 3.56 earnings per share for the current year.
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Mellanox Technologies Profile
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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