Mellanox Technologies (NASDAQ:MLNX) released its quarterly earnings data on Tuesday. The semiconductor producer reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.14, Briefing.com reports. Mellanox Technologies had a net margin of 12.33% and a return on equity of 16.53%. The business had revenue of $305.20 million for the quarter, compared to analysts’ expectations of $300.40 million. During the same quarter last year, the company earned $0.98 EPS. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year.
Shares of MLNX opened at $119.32 on Wednesday. The stock has a market capitalization of $6.46 billion, a P/E ratio of 30.99, a P/E/G ratio of 1.33 and a beta of 0.30. Mellanox Technologies has a 52-week low of $65.68 and a 52-week high of $119.40.
A number of analysts recently weighed in on MLNX shares. DA Davidson increased their price objective on shares of Mellanox Technologies to $124.00 and gave the stock a “buy” rating in a report on Monday, January 28th. BidaskClub raised shares of Mellanox Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. Barclays cut shares of Mellanox Technologies from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $108.00 to $125.00 in a report on Tuesday, March 12th. Zacks Investment Research cut shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a report on Monday, December 31st. Finally, Stifel Nicolaus cut shares of Mellanox Technologies from a “buy” rating to a “hold” rating and set a $117.95 price objective on the stock. in a report on Thursday, March 14th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $109.58.
In related news, Director Amal M. Johnson sold 5,714 shares of the stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $95.49, for a total value of $545,629.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glenda Dorchak sold 4,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $118.30, for a total transaction of $473,200.00. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in MLNX. Massachusetts Financial Services Co. MA raised its position in Mellanox Technologies by 31.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,989,408 shares of the semiconductor producer’s stock valued at $183,783,000 after acquiring an additional 480,571 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Mellanox Technologies by 22.1% during the third quarter. Neuberger Berman Group LLC now owns 1,394,062 shares of the semiconductor producer’s stock valued at $102,389,000 after acquiring an additional 252,239 shares during the period. Windacre Partnership LLC bought a new position in shares of Mellanox Technologies during the fourth quarter valued at $66,883,000. Two Sigma Investments LP lifted its holdings in shares of Mellanox Technologies by 37.9% during the fourth quarter. Two Sigma Investments LP now owns 713,897 shares of the semiconductor producer’s stock valued at $65,950,000 after acquiring an additional 196,024 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Mellanox Technologies by 49.2% during the fourth quarter. Two Sigma Advisers LP now owns 663,925 shares of the semiconductor producer’s stock valued at $61,333,000 after acquiring an additional 219,000 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.
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Mellanox Technologies Company 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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