Sheets Smith Wealth Management acquired a new position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,166 shares of the semiconductor producer’s stock, valued at approximately $662,000.
Several other large investors have also added to or reduced their stakes in MLNX. USA Financial Portformulas Corp acquired a new stake in shares of Mellanox Technologies in the third quarter worth $253,000. Pitcairn Co. acquired a new stake in shares of Mellanox Technologies in the third quarter worth $253,000. Juncture Wealth Strategies LLC acquired a new stake in shares of Mellanox Technologies in the third quarter worth $256,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Mellanox Technologies in the second quarter worth $257,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Mellanox Technologies in the third quarter worth $257,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.
MLNX stock opened at $85.70 on Friday. The firm has a market cap of $4.59 billion, a P/E ratio of 94.18, a PEG ratio of 0.99 and a beta of 0.29. Mellanox Technologies, Ltd. has a one year low of $58.40 and a one year high of $99.14.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings data on Wednesday, October 24th. The semiconductor producer reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.13. The business had revenue of $279.20 million for the quarter, compared to the consensus estimate of $275.49 million. Mellanox Technologies had a net margin of 8.57% and a return on equity of 14.72%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. Equities analysts expect that Mellanox Technologies, Ltd. will post 3.56 EPS for the current year.
A number of research firms have recently weighed in on MLNX. BidaskClub lowered shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Zacks Investment Research upgraded shares of Mellanox Technologies from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Tuesday, October 9th. Jefferies Financial Group began coverage on shares of Mellanox Technologies in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $110.00 price objective on the stock. Bank of America began coverage on shares of Mellanox Technologies in a research note on Wednesday, October 10th. They issued a “buy” rating and a $105.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Mellanox Technologies from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $98.00 to $100.00 in a research note on Thursday, October 25th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $102.15.
In other Mellanox Technologies news, Director Glenda Dorchak sold 5,000 shares of the stock in a transaction on Friday, October 26th. The shares were sold at an average price of $85.01, for a total transaction of $425,050.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Amal M. Johnson sold 5,714 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $90.00, for a total transaction of $514,260.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,290 shares of company stock worth $1,328,270. Insiders own 4.20% of the company’s stock.
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Mellanox Technologies Profile
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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