Equities analysts predict that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will report $226.70 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Mellanox Technologies’ earnings. The highest sales estimate is $228.22 million and the lowest is $225.00 million. Mellanox Technologies reported sales of $224.21 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.1%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, October 25th.

On average, analysts expect that Mellanox Technologies will report full year sales of $226.70 million for the current year, with estimates ranging from $862.60 million to $878.00 million. For the next fiscal year, analysts forecast that the business will report sales of $984.76 million per share, with estimates ranging from $953.90 million to $1.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Mellanox Technologies.

Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). Mellanox Technologies had a return on equity of 5.93% and a net margin of 0.09%. The company had revenue of $212.00 million during the quarter, compared to the consensus estimate of $209.62 million. During the same period in the previous year, the firm posted $0.87 EPS. Mellanox Technologies’s revenue for the quarter was down 1.3% on a year-over-year basis.

A number of brokerages have recently issued reports on MLNX. KeyCorp restated a “hold” rating on shares of Mellanox Technologies in a research note on Tuesday. BidaskClub cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Zacks Investment Research cut shares of Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. TheStreet cut shares of Mellanox Technologies from a “b-” rating to a “c” rating in a research note on Friday, August 11th. Finally, Barclays PLC restated a “buy” rating and issued a $50.00 price objective (down previously from $54.00) on shares of Mellanox Technologies in a research note on Thursday, July 27th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Mellanox Technologies presently has a consensus rating of “Hold” and a consensus price target of $50.88.

In other Mellanox Technologies news, CFO Yakov (Jacob) Shulman sold 2,407 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.00, for a total value of $113,129.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shai Cohen sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total transaction of $2,358,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 72,453 shares of company stock valued at $3,402,241 in the last quarter. 6.05% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Chicago Partners Investment Group LLC acquired a new stake in Mellanox Technologies in the 2nd quarter valued at about $106,000. SG Americas Securities LLC acquired a new stake in Mellanox Technologies in the 2nd quarter valued at about $122,000. Oppenheimer Asset Management Inc. acquired a new stake in Mellanox Technologies in the 1st quarter valued at about $186,000. Legal & General Group Plc increased its position 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 acquiring an additional 199 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Mellanox Technologies in the 1st quarter valued at about $236,000. Hedge funds and other institutional investors own 61.58% of the company’s stock.

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Shares of Mellanox Technologies (NASDAQ MLNX) opened at 43.65 on Friday. The company has a market cap of $2.20 billion, a P/E ratio of 6235.71 and a beta of 0.69. The company’s 50 day moving average is $46.21 and its 200-day moving average is $46.29. Mellanox Technologies has a 12 month low of $38.75 and a 12 month high of $52.79.

Mellanox Technologies Company Profile

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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Earnings History and Estimates for Mellanox Technologies (NASDAQ:MLNX)

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