Mellanox Technologies, Ltd. (MLNX) Position Lessened by Russell Investments Group Ltd.
Russell Investments Group Ltd. lowered its position in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 33.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,253 shares of the semiconductor producer’s stock after selling 41,330 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.16% of Mellanox Technologies worth $3,831,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Mellanox Technologies during the 2nd quarter worth about $122,000. 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. Juncture Wealth Strategies LLC acquired a new stake in Mellanox Technologies in the 3rd quarter valued at about $222,000. Dynamic Technology Lab Private Ltd acquired a new stake in Mellanox Technologies in the 2nd quarter valued at about $259,000. Finally, Sciencast Management LP acquired a new stake in Mellanox Technologies in the 2nd quarter valued at about $333,000. Institutional investors and hedge funds own 60.84% of the company’s stock.
In other news, Director Amal M. Johnson sold 2,857 shares of Mellanox Technologies stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $57.60, for a total transaction of $164,563.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shai Cohen sold 50,000 shares of Mellanox Technologies stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $47.15, for a total transaction of $2,357,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,128 shares of company stock valued at $11,784,167. 6.05% of the stock is owned by corporate insiders.
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 consensus estimate of $0.64 by $0.07. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The company had revenue of $225.70 million during the quarter, compared to analysts’ expectations of $226.74 million. During the same quarter in the previous year, the company earned $0.93 EPS. Mellanox Technologies’s revenue was up .7% on a year-over-year basis. research analysts expect that Mellanox Technologies, Ltd. will post 0.84 earnings per share for the current year.
Several equities research analysts have weighed in on MLNX shares. Zacks Investment Research upgraded shares of Mellanox Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Barclays cut shares of Mellanox Technologies from an “overweight” rating to an “underweight” rating and lowered their price objective for the company from $50.00 to $48.00 in a research report on Monday, October 9th. Stifel Nicolaus lowered their price objective on shares of Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. KeyCorp restated a “hold” rating on shares of Mellanox Technologies in a research report on Tuesday, October 17th. Finally, BidaskClub upgraded shares of Mellanox Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $56.30.
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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