Verition Fund Management LLC purchased a new stake in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,581 shares of the semiconductor producer’s stock, valued at approximately $723,000.

Other large investors have also made changes to their positions in the company. Fortis Advisors LLC bought a new stake in Mellanox Technologies during the 2nd quarter valued at approximately $122,000. Cerebellum GP LLC bought a new stake in Mellanox Technologies during the 2nd quarter valued at approximately $176,000. Empirical Finance LLC bought a new stake in Mellanox Technologies during the 2nd quarter valued at approximately $213,000. Bayesian Capital Management LP bought a new stake in Mellanox Technologies during the 1st quarter valued at approximately $219,000. Finally, Franklin Resources Inc. bought a new stake in Mellanox Technologies during the 1st quarter valued at approximately $222,000. Institutional investors own 75.29% of the company’s stock.

Shares of MLNX opened at $76.60 on Wednesday. Mellanox Technologies, Ltd. has a 52 week low of $42.25 and a 52 week high of $90.45. The company has a market capitalization of $4.07 billion, a PE ratio of 30.04, a P/E/G ratio of 1.50 and a beta of 0.49.

Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Tuesday, July 17th. The semiconductor producer reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. Mellanox Technologies had a return on equity of 12.26% and a net margin of 5.61%. The firm had revenue of $268.46 million for the quarter, compared to analysts’ expectations of $263.61 million. During the same period in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. research analysts predict that Mellanox Technologies, Ltd. will post 3.41 earnings per share for the current year.

In other news, VP Marc Sultzbaugh sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $76.13, for a total value of $761,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Clifton Thomas Weatherford sold 4,617 shares of the business’s stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $83.90, for a total value of $387,366.30. Following the completion of the sale, the director now directly owns 6,000 shares in the company, valued at $503,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 385,633 shares of company stock worth $32,655,311. Insiders own 4.20% of the company’s stock.

Several research firms have weighed in on MLNX. Piper Jaffray Companies reaffirmed a “buy” rating and set a $110.00 price objective on shares of Mellanox Technologies in a research report on Wednesday, July 18th. BidaskClub cut Mellanox Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Benchmark lifted their price objective on Mellanox Technologies from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 18th. Barclays lifted their price objective on Mellanox Technologies from $103.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, July 18th. Finally, Rosenblatt Securities reaffirmed a “hold” rating on shares of Mellanox Technologies in a research report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $98.50.

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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Institutional Ownership by Quarter for Mellanox Technologies (NASDAQ:MLNX)

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