Eyal Waldman Sells 121,772 Shares of Mellanox Technologies, Ltd. (MLNX) Stock
Mellanox Technologies, Ltd. (NASDAQ:MLNX) CEO Eyal Waldman sold 121,772 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $50.00, for a total value of $6,088,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) opened at $48.80 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12. The firm has a market capitalization of $2,500.60, a P/E ratio of 52.23, a PEG ratio of 3.39 and a beta of 0.54. Mellanox Technologies, Ltd. has a 52 week low of $38.75 and a 52 week high of $52.79.
Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.07. The business had revenue of $225.70 million during the quarter, compared to the consensus estimate of $226.74 million. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 EPS. research analysts anticipate that Mellanox Technologies, Ltd. will post 0.83 earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in MLNX. Chicago Partners Investment Group LLC acquired a new position in shares of Mellanox Technologies during the 2nd quarter worth approximately $106,000. SG Americas Securities LLC acquired a new position in Mellanox Technologies in the 2nd quarter valued at $122,000. Legal & General Group Plc raised its stake in Mellanox Technologies by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after purchasing an additional 199 shares during the last quarter. Juncture Wealth Strategies LLC acquired a new position in Mellanox Technologies in the 3rd quarter valued at $222,000. Finally, Harbour Capital Advisors LLC raised its stake in Mellanox Technologies by 4,230.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 9,743 shares of the semiconductor producer’s stock valued at $225,000 after purchasing an additional 9,518 shares during the last quarter. 59.41% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on MLNX shares. Barclays PLC reiterated a “buy” rating and issued a $50.00 target price (down previously from $54.00) on shares of Mellanox Technologies in a research report on Thursday, July 27th. Zacks Investment Research raised Mellanox Technologies from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, July 27th. Benchmark Co. initiated coverage on Mellanox Technologies in a report on Tuesday, August 29th. They issued a “buy” rating and a $60.00 price target for the company. Stifel Nicolaus decreased their price target on Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Finally, TheStreet downgraded Mellanox Technologies from a “b-” rating to a “c” rating in a report on Friday, August 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently 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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