Mellanox Technologies, Ltd. (MLNX) Stake Lessened by FIL Ltd
FIL Ltd reduced its stake in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 7.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,286,934 shares of the semiconductor producer’s stock after selling 103,381 shares during the quarter. FIL Ltd owned approximately 2.57% of Mellanox Technologies worth $55,724,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of MLNX. Russell Investments Group Ltd. purchased a new stake in shares of Mellanox Technologies during the first quarter valued at $6,878,000. US Bancorp DE boosted its stake in shares of Mellanox Technologies by 521.4% during the first quarter. US Bancorp DE now owns 4,859 shares of the semiconductor producer’s stock valued at $248,000 after purchasing an additional 4,077 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Mellanox Technologies by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 734,249 shares of the semiconductor producer’s stock valued at $37,411,000 after purchasing an additional 20,063 shares during the period. Swiss National Bank boosted its stake in shares of Mellanox Technologies by 1.5% during the first quarter. Swiss National Bank now owns 72,221 shares of the semiconductor producer’s stock valued at $3,680,000 after purchasing an additional 1,100 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Mellanox Technologies by 25.2% during the first quarter. UBS Asset Management Americas Inc. now owns 20,094 shares of the semiconductor producer’s stock valued at $1,024,000 after purchasing an additional 4,047 shares during the period. 61.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) opened at 46.15 on Friday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 6592.86 and a beta of 0.65. Mellanox Technologies, Ltd. has a 52-week low of $38.75 and a 52-week high of $52.80. The firm’s 50 day moving average is $45.48 and its 200 day moving average is $46.99.
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 consensus estimate of $0.11 by ($0.01). The firm had revenue of $212.00 million during the quarter, compared to analyst estimates of $209.62 million. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.93%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. Equities analysts expect that Mellanox Technologies, Ltd. will post $2.14 earnings per share for the current year.
In other news, VP Michael Kagan sold 5,000 shares of Mellanox Technologies stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $45.01, for a total value of $225,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Yakov (Jacob) Shulman sold 2,407 shares of Mellanox Technologies 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 disclosure for this sale can be found here. Insiders sold a total of 72,453 shares of company stock valued at $3,402,241 in the last quarter. Company insiders own 6.05% of the company’s stock.
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A number of brokerages have recently issued reports on MLNX. BidaskClub lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Zacks Investment Research lowered shares of Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. TheStreet lowered shares of Mellanox Technologies from a “b-” rating to a “c” rating in a research note on Friday, August 11th. Barclays PLC reissued a “buy” rating and set a $50.00 target price (down from $54.00) on shares of Mellanox Technologies in a research note on Thursday, July 27th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Mellanox Technologies in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $51.13.
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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