Mellanox Technologies (NASDAQ:MLNX) posted its earnings results on Wednesday. The semiconductor producer reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.10), Morningstar.com reports. The firm had revenue of $310.30 million for the quarter, compared to the consensus estimate of $307.24 million. Mellanox Technologies had a net margin of 14.09% and a return on equity of 17.35%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share.
NASDAQ MLNX traded up $0.58 during trading on Friday, hitting $113.67. The company’s stock had a trading volume of 4,577 shares, compared to its average volume of 361,162. The company has a current ratio of 3.38, a quick ratio of 2.99 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $6.26 billion, a P/E ratio of 29.53, a PEG ratio of 1.06 and a beta of 0.36. The firm’s 50 day moving average is $111.64. Mellanox Technologies has a fifty-two week low of $65.68 and a fifty-two week high of $121.13.
A number of analysts have weighed in on the company. Rosenblatt Securities increased their target price on QUALCOMM from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, July 16th. Jefferies Financial Group cut their price target on MAV Beauty Brands from C$15.00 to C$14.00 in a research note on Friday, March 29th. ValuEngine lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Mellanox Technologies currently has a consensus rating of “Hold” and a consensus target price of $117.99.
In related news, Director Glenda Dorchak sold 1,750 shares of Mellanox Technologies 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 completion of the sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Steve Sanghi bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average cost of $110.54 per share, with a total value of $2,210,800.00. The disclosure for this purchase can be found here. 4.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new position in Mellanox Technologies during the 2nd quarter worth about $49,000. FNY Investment Advisers LLC lifted its stake in Mellanox Technologies by 483.2% during the 2nd quarter. FNY Investment Advisers LLC now owns 47,646 shares of the semiconductor producer’s stock worth $5,272,000 after acquiring an additional 39,476 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Mellanox Technologies by 1.9% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 590,754 shares of the semiconductor producer’s stock worth $65,379,000 after acquiring an additional 11,130 shares in the last quarter. Cerebellum GP LLC lifted its stake in Mellanox Technologies by 7.6% during the 2nd quarter. Cerebellum GP LLC now owns 3,003 shares of the semiconductor producer’s stock worth $332,000 after acquiring an additional 212 shares in the last quarter. Finally, Intl Fcstone Inc. acquired a new position in Mellanox Technologies during the 2nd quarter worth about $473,000. Institutional investors own 74.96% of the company’s stock.
Mellanox Technologies Company Profile
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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