Lido Advisors LLC Takes Position in Mellanox Technologies, Ltd. (MLNX)
Lido Advisors LLC bought a new stake in Mellanox Technologies, Ltd. (NASDAQ:MLNX) in the fourth quarter, Holdings Channel reports. The fund bought 3,474 shares of the semiconductor producer’s stock, valued at approximately $320,000.
A number of other institutional investors also recently added to or reduced their stakes in the stock. QS Investors LLC lifted its position in shares of Mellanox Technologies by 1,374.0% during the fourth quarter. QS Investors LLC now owns 1,813 shares of the semiconductor producer’s stock worth $168,000 after purchasing an additional 1,690 shares in the last quarter. Geode Capital Management LLC raised its holdings in Mellanox Technologies by 11.2% in the fourth quarter. Geode Capital Management LLC now owns 43,355 shares of the semiconductor producer’s stock valued at $4,004,000 after acquiring an additional 4,363 shares in the last quarter. PEAK6 Investments LLC acquired a new stake in Mellanox Technologies in the fourth quarter valued at $693,000. Stifel Financial Corp raised its holdings in Mellanox Technologies by 5.2% in the fourth quarter. Stifel Financial Corp now owns 64,816 shares of the semiconductor producer’s stock valued at $5,987,000 after acquiring an additional 3,219 shares in the last quarter. Finally, Natixis Advisors L.P. raised its holdings in Mellanox Technologies by 7.3% in the fourth quarter. Natixis Advisors L.P. now owns 49,121 shares of the semiconductor producer’s stock valued at $4,537,000 after acquiring an additional 3,359 shares in the last quarter. Hedge funds and other institutional investors own 78.36% of the company’s stock.
MLNX has been the topic of several recent analyst reports. DA Davidson cut shares of Mellanox Technologies from a “buy” rating to a “neutral” rating and set a $128.00 price target on the stock. in a report on Tuesday, March 12th. BidaskClub raised shares of Mellanox Technologies from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd. Piper Jaffray Companies cut shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a report on Monday, March 11th. Zacks Investment Research raised shares of Mellanox Technologies from a “hold” rating to a “strong-buy” rating and set a $94.00 price target on the stock in a report on Wednesday, January 30th. Finally, Barclays cut shares of Mellanox Technologies from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $108.00 to $125.00 in a report on Tuesday, March 12th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $110.00.
Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Wednesday, January 30th. The semiconductor producer reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.12. The company had revenue of $290.07 million for the quarter, compared to analysts’ expectations of $284.96 million. Mellanox Technologies had a net margin of 12.33% and a return on equity of 16.53%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. Sell-side analysts anticipate that Mellanox Technologies, Ltd. will post 4.82 EPS for the current fiscal year.
In other Mellanox Technologies news, Director Glenda Dorchak sold 4,576 shares of the stock in a transaction on Friday, January 4th. The shares were sold at an average price of $85.00, for a total transaction of $388,960.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Amal M. Johnson sold 5,714 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $95.49, for a total transaction of $545,629.86. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.
Mellanox Technologies Company Profile
Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, and sells interconnect products and solutions worldwide. 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; 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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