Brokerages predict that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will post $285.34 million in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Mellanox Technologies’ earnings. The lowest sales estimate is $285.00 million and the highest is $286.20 million. Mellanox Technologies reported sales of $237.58 million in the same quarter last year, which indicates a positive year over year growth rate of 20.1%. The company is scheduled to report its next quarterly earnings report on Thursday, January 17th.

According to Zacks, analysts expect that Mellanox Technologies will report full-year sales of $1.08 billion for the current financial year. For the next financial year, analysts forecast that the firm will report sales of $1.23 billion, with estimates ranging from $1.20 billion to $1.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Mellanox Technologies.

Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Wednesday, October 24th. The semiconductor producer reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.13. Mellanox Technologies had a return on equity of 14.72% and a net margin of 8.57%. The firm had revenue of $279.20 million for the quarter, compared to analysts’ expectations of $275.49 million. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue was up 23.7% on a year-over-year basis.

Several equities research analysts have recently weighed in on MLNX shares. BidaskClub upgraded Mellanox Technologies from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th. Jefferies Financial Group upped their price target on Mellanox Technologies from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 3rd. ValuEngine cut Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research upgraded Mellanox Technologies from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Tuesday, October 9th. Finally, Bank of America started coverage on Mellanox Technologies in a research report on Wednesday, October 10th. They set a “buy” rating and a $105.00 price target on the stock. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $102.15.

Shares of MLNX traded down $1.77 during midday trading on Friday, hitting $90.61. 921,263 shares of the company traded hands, compared to its average volume of 569,037. Mellanox Technologies has a one year low of $58.40 and a one year high of $99.14. The stock has a market cap of $4.99 billion, a PE ratio of 99.57, a P/E/G ratio of 1.38 and a beta of 0.31.

In other news, Director Amal M. Johnson sold 5,714 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $90.00, for a total transaction of $514,260.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glenda Dorchak sold 5,000 shares of the business’s stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $85.01, for a total value of $425,050.00. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Fortis Advisors LLC purchased a new position in shares of Mellanox Technologies during the second quarter worth about $122,000. USA Financial Portformulas Corp purchased a new stake in Mellanox Technologies in the third quarter worth approximately $253,000. Schwab Charles Investment Management Inc. purchased a new stake in Mellanox Technologies in the second quarter worth approximately $257,000. Pitcairn Co. purchased a new stake in Mellanox Technologies in the third quarter worth approximately $253,000. Finally, Juncture Wealth Strategies LLC purchased a new stake in Mellanox Technologies in the third quarter worth approximately $256,000. 74.03% of the stock is owned by institutional investors.

About Mellanox Technologies

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

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