Insider Selling: Mellanox Technologies, Ltd. (MLNX) VP Sells 5,000 Shares of Stock
Mellanox Technologies, Ltd. (NASDAQ:MLNX) VP Marc Sultzbaugh sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $49.00, for a total value of $245,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Mellanox Technologies, Ltd. (MLNX) traded down $0.05 during midday trading on Monday, reaching $49.10. The company’s stock had a trading volume of 462,000 shares, compared to its average volume of 574,766. The company has a current ratio of 3.12, a quick ratio of 2.78 and a debt-to-equity ratio of 0.17. The company has a market cap of $2,480.00, a P/E ratio of 52.23, a P/E/G ratio of 3.40 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 issued its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.07. The company had revenue of $225.70 million for 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 company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. sell-side analysts expect that Mellanox Technologies, Ltd. will post 0.83 earnings per share for the current year.
A number of brokerages recently weighed in on MLNX. BidaskClub raised Mellanox Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Benchmark Co. began coverage on Mellanox Technologies in a research note on Tuesday, August 29th. They issued a “buy” rating and a $60.00 price objective on the stock. Jefferies Group LLC reissued a “sell” rating and issued a $38.00 price objective on shares of Mellanox Technologies in a research note on Sunday, September 10th. TheStreet downgraded Mellanox Technologies from a “b-” rating to a “c” rating in a research note on Friday, August 11th. Finally, KeyCorp reissued a “hold” rating on shares of Mellanox Technologies in a research note on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $51.00.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Mellanox Technologies by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 133,428 shares of the semiconductor producer’s stock worth $6,798,000 after buying an additional 8,841 shares during the period. Geode Capital Management LLC increased its position in shares of Mellanox Technologies by 16.3% during the first quarter. Geode Capital Management LLC now owns 27,026 shares of the semiconductor producer’s stock valued at $1,376,000 after purchasing an additional 3,784 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Mellanox Technologies during the third quarter valued at approximately $519,000. Paloma Partners Management Co bought a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $306,000. Finally, ETF Managers Group LLC bought a new stake in shares of Mellanox Technologies during the second quarter valued at approximately $578,000. 59.41% of the stock is currently owned by institutional investors.
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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