Tyers Asset Management LLC bought a new position in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) during the second quarter, Holdings Channel.com reports. The fund bought 656 shares of the semiconductor producer’s stock, valued at approximately $73,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of MLNX. Alpine Associates Management Inc. acquired a new stake in shares of Mellanox Technologies during the first quarter worth about $140,672,000. CNH Partners LLC acquired a new stake in shares of Mellanox Technologies during the first quarter worth about $111,064,000. Vivaldi Asset Management LLC acquired a new stake in shares of Mellanox Technologies during the first quarter worth about $38,577,000. ARP Americas LP acquired a new stake in shares of Mellanox Technologies during the first quarter worth about $37,512,000. Finally, Neuberger Berman Group LLC increased its position in shares of Mellanox Technologies by 27.0% during the first quarter. Neuberger Berman Group LLC now owns 1,404,302 shares of the semiconductor producer’s stock worth $166,207,000 after purchasing an additional 298,466 shares in the last quarter. Institutional investors and hedge funds own 75.99% of the company’s stock.
Shares of NASDAQ MLNX traded up $0.18 during midday trading on Friday, reaching $111.44. 221,351 shares of the company were exchanged, compared to its average volume of 385,296. Mellanox Technologies, Ltd. has a 1 year low of $65.68 and a 1 year high of $121.13. The stock has a fifty day simple moving average of $109.15 and a 200 day simple moving average of $113.01. The stock has a market cap of $6.10 billion, a P/E ratio of 28.95, a PEG ratio of 0.93 and a beta of 0.46.
Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor producer reported $1.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.10). Mellanox Technologies had a return on equity of 16.86% and a net margin of 14.09%. The company had revenue of $310.30 million for the quarter, compared to analysts’ expectations of $307.24 million. During the same period in the prior year, the business earned $1.25 EPS. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts predict that Mellanox Technologies, Ltd. will post 5.51 earnings per share for the current year.
In related news, Director Glenda Dorchak sold 1,750 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $112.12, for a total transaction of $196,210.00. Following the transaction, the director now owns 20,716 shares of the company’s stock, valued at $2,322,677.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Marc Sultzbaugh sold 7,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $109.25, for a total value of $819,375.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,750 shares of company stock worth $1,288,085. Corporate insiders own 4.20% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Mellanox Technologies from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Tuesday, July 16th. BidaskClub cut Mellanox Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 31st. Finally, ValuEngine cut Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Mellanox Technologies currently has an average rating of “Hold” and an average price target of $117.99.
About Mellanox Technologies
Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, markets, and sells interconnect products and solutions. 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; and 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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