Oppenheimer Asset Management Inc. Invests $186,000 in Mellanox Technologies, Ltd. (NASDAQ:MLNX)
Oppenheimer Asset Management Inc. acquired a new position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,654 shares of the semiconductor producer’s stock, valued at approximately $186,000.
Other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. purchased a new stake in Mellanox Technologies during the first quarter worth approximately $52,836,000. Menora Mivtachim Holdings LTD. raised its stake in shares of Mellanox Technologies by 128.3% in the first quarter. Menora Mivtachim Holdings LTD. now owns 1,347,105 shares of the semiconductor producer’s stock worth $68,635,000 after buying an additional 757,000 shares during the period. Snow Capital Management LP bought a new stake in shares of Mellanox Technologies during the first quarter worth about $33,813,000. FMR LLC raised its stake in shares of Mellanox Technologies by 24.7% in the first quarter. FMR LLC now owns 3,298,585 shares of the semiconductor producer’s stock worth $168,064,000 after buying an additional 654,046 shares during the period. Finally, FIL Ltd raised its stake in shares of Mellanox Technologies by 78.5% in the first quarter. FIL Ltd now owns 1,390,315 shares of the semiconductor producer’s stock worth $70,836,000 after buying an additional 611,541 shares during the period. 67.63% of the stock is currently owned by institutional investors.
Mellanox Technologies, Ltd. (NASDAQ MLNX) traded down 0.89% during mid-day trading on Tuesday, hitting $44.70. The stock had a trading volume of 265,852 shares. The company has a market capitalization of $2.24 billion, a P/E ratio of 6385.71 and a beta of 0.68. Mellanox Technologies, Ltd. has a 52 week low of $38.75 and a 52 week high of $52.80. The stock’s 50-day moving average is $44.54 and its 200 day moving average is $47.31.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by $0.01. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.98%. The firm had revenue of $212 million for the quarter, compared to analyst estimates of $209.62 million. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities analysts forecast that Mellanox Technologies, Ltd. will post $2.14 earnings per share for the current fiscal year.
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A number of equities research analysts have recently issued reports on MLNX shares. Piper Jaffray Companies lowered Mellanox Technologies from an “overweight” rating to a “neutral” rating and set a $48.00 target price on the stock. in a research report on Thursday, April 27th. Credit Suisse Group lowered Mellanox Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $50.00 to $45.00 in a research report on Thursday, April 27th. Roth Capital lowered Mellanox Technologies from a “buy” rating to a “neutral” rating and cut their target price for the stock from $60.00 to $53.00 in a research report on Thursday, April 27th. Zacks Investment Research downgraded Mellanox Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. Finally, Jefferies Group LLC lowered their price target on Mellanox Technologies from $41.00 to $38.00 and set an “underperform” rating on the stock in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Mellanox Technologies has a consensus rating of “Hold” and an average target price of $49.86.
In other Mellanox Technologies news, CFO Yakov (Jacob) Shulman sold 2,407 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.00, for a total transaction of $113,129.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Shai Cohen sold 12,546 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $47.00, for a total transaction of $589,662.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,953 shares of company stock valued at $3,060,791. Company insiders own 6.05% 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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