Mellanox Technologies, Ltd. (NASDAQ:MLNX) posted its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.07, Briefing.com reports. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The company had revenue of $225.70 million for the quarter, compared to the consensus estimate of $226.74 million. During the same period in the previous year, the business earned $0.93 EPS. Mellanox Technologies’s revenue for the quarter was up .7% compared to the same quarter last year. Mellanox Technologies updated its Q4 guidance to $0.61-0.83 EPS.
Mellanox Technologies (MLNX) traded down $0.05 on Friday, hitting $49.10. The company’s stock had a trading volume of 462,000 shares, compared to its average volume of 574,766. Mellanox Technologies has a 1 year low of $38.75 and a 1 year high of $52.79. The firm has a market cap of $2,503.15, a P/E ratio of 52.29, a price-to-earnings-growth ratio of 3.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.12 and a quick ratio of 2.43.
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In related news, CFO Yakov (Jacob) Shulman sold 2,706 shares of Mellanox Technologies stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $46.32, for a total value of $125,341.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael Kagan sold 2,500 shares of Mellanox Technologies stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $46.56, for a total value of $116,400.00. The disclosure for this sale can be found here. Insiders sold a total of 62,706 shares of company stock worth $2,943,042 in the last three months. Company insiders own 6.05% of the company’s stock.
A hedge fund recently raised its stake in Mellanox Technologies stock. State Street Corp raised its position in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,753 shares of the semiconductor producer’s stock after acquiring an additional 2,725 shares during the period. State Street Corp owned approximately 0.11% of Mellanox Technologies worth $2,329,000 at the end of the most recent quarter. 62.13% of the stock is owned by hedge funds and other institutional investors.
MLNX has been the subject of several research analyst reports. Barclays PLC lowered Mellanox Technologies from an “overweight” rating to an “underweight” rating and cut their price objective for the company from $50.00 to $48.00 in a report on Monday, October 9th. Jefferies Group LLC reissued a “sell” rating and set a $38.00 price target on shares of Mellanox Technologies in a research report on Sunday, September 10th. Benchmark Co. began coverage on Mellanox Technologies in a research note on Tuesday, August 29th. They issued a “buy” rating and a $60.00 target price on the stock. BidaskClub downgraded Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $47.00 price target on shares of Mellanox Technologies in a research note on Friday, July 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Mellanox Technologies presently has an average rating of “Hold” and a consensus price target of $51.00.
About Mellanox Technologies
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company is an integrated supplier of interconnect products and solutions based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.
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