Analysts Anticipate Mellanox Technologies, Ltd. (MLNX) Will Post Earnings of $0.11 Per Share
Equities analysts expect that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will post $0.11 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Mellanox Technologies’ earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.13. Mellanox Technologies posted earnings per share of $0.50 in the same quarter last year, which suggests a negative year over year growth rate of 78%. The company is expected to issue its next quarterly earnings results on Wednesday, July 19th.
According to Zacks, analysts expect that Mellanox Technologies will report full-year earnings of $1.09 per share for the current fiscal year, with EPS estimates ranging from $0.94 to $1.22. For the next fiscal year, analysts anticipate that the business will post earnings of $2.08 per share, with EPS estimates ranging from $1.54 to $2.66. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Mellanox Technologies.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Wednesday, April 26th. The semiconductor producer reported $0.29 EPS for the quarter, missing the consensus estimate of $0.49 by $0.20. Mellanox Technologies had a return on equity of 10.68% and a net margin of 2.16%. The company had revenue of $188.65 million for the quarter, compared to analyst estimates of $204.70 million. During the same period last year, the company posted $0.81 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis.
Several analysts recently commented on MLNX shares. TheStreet upgraded shares of Mellanox Technologies from a “c+” rating to a “b-” rating in a report on Monday, February 27th. Zacks Investment Research upgraded shares of Mellanox Technologies from a “strong sell” rating to a “buy” rating and set a $57.00 price target for the company in a report on Wednesday, April 5th. Credit Suisse Group AG restated a “buy” rating and set a $50.00 price target on shares of Mellanox Technologies in a report on Sunday, February 5th. Barclays PLC restated a “buy” rating on shares of Mellanox Technologies in a report on Friday, February 3rd. Finally, Rosenblatt Securities started coverage on shares of Mellanox Technologies in a report on Wednesday, February 22nd. They set a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Mellanox Technologies has a consensus rating of “Hold” and an average target price of $53.89.
Shares of Mellanox Technologies (NASDAQ:MLNX) traded down 0.52% during trading on Thursday, reaching $47.90. 310,015 shares of the company traded hands. The firm has a market capitalization of $2.38 billion, a PE ratio of 182.82 and a beta of 0.56. Mellanox Technologies has a 12 month low of $38.75 and a 12 month high of $52.79. The firm has a 50-day moving average price of $48.72 and a 200-day moving average price of $46.37.
In other Mellanox Technologies news, VP Michael Kagan sold 5,000 shares of Mellanox Technologies stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $47.50, for a total value of $237,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.32% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Capital Fund Management S.A. boosted its stake in Mellanox Technologies by 6.5% in the third quarter. Capital Fund Management S.A. now owns 15,969 shares of the semiconductor producer’s stock worth $691,000 after buying an additional 980 shares during the period. Virginia Retirement Systems ET AL raised its position in Mellanox Technologies by 31.3% in the third quarter. Virginia Retirement Systems ET AL now owns 33,600 shares of the semiconductor producer’s stock worth $1,453,000 after buying an additional 8,000 shares in the last quarter. Blue Rock Advisors LLC raised its position in Mellanox Technologies by 8.7% in the third quarter. Blue Rock Advisors LLC now owns 13,911 shares of the semiconductor producer’s stock worth $602,000 after buying an additional 1,112 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Mellanox Technologies by 30.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,202,857 shares of the semiconductor producer’s stock worth $52,024,000 after buying an additional 281,750 shares in the last quarter. Finally, Westpac Banking Corp purchased a new position in Mellanox Technologies during the third quarter worth approximately $143,000. Hedge funds and other institutional investors own 61.94% of the company’s stock.
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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