Mellanox Technologies, Ltd. (MLNX) VP Michael Kagan Sells 2,500 Shares of Stock
Mellanox Technologies, Ltd. (NASDAQ:MLNX) VP Michael Kagan sold 2,500 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $46.56, for a total transaction of $116,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Michael Kagan also recently made the following trade(s):
- On Monday, August 28th, Michael Kagan sold 5,000 shares of Mellanox Technologies stock. The stock was sold at an average price of $45.01, for a total transaction of $225,050.00.
Shares of Mellanox Technologies, Ltd. (NASDAQ MLNX) opened at 47.10 on Wednesday. Mellanox Technologies, Ltd. has a 12 month low of $38.75 and a 12 month high of $52.80. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 6728.57 and a beta of 0.65. The company has a 50-day moving average price of $45.30 and a 200-day moving average price of $47.07.
Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $212.00 million for the quarter, compared to analysts’ expectations of $209.62 million. Mellanox Technologies had a return on equity of 5.93% and a net margin of 0.09%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 EPS. On average, analysts expect that Mellanox Technologies, Ltd. will post $2.14 EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in MLNX. Chicago Partners Investment Group LLC purchased a new position in Mellanox Technologies during the 2nd quarter worth approximately $106,000. SG Americas Securities LLC purchased a new position in Mellanox Technologies during the 2nd quarter worth approximately $122,000. First Interstate Bank purchased a new position in shares of Mellanox Technologies in the 1st quarter valued at approximately $159,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Mellanox Technologies in the 1st quarter valued at approximately $186,000. Finally, Legal & General Group Plc grew its stake in shares of Mellanox Technologies by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 61.58% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Jefferies Group LLC restated an “underperform” rating and set a $38.00 price target on shares of Mellanox Technologies in a research note on Tuesday, June 20th. BidaskClub lowered Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Piper Jaffray Companies restated a “hold” rating and set a $47.00 price target on shares of Mellanox Technologies in a research note on Friday, July 28th. TheStreet lowered Mellanox Technologies from a “b-” rating to a “c” rating in a research note on Friday, August 11th. Finally, Barclays PLC restated a “buy” rating and set a $50.00 price target (down previously from $54.00) on shares of Mellanox Technologies in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $51.13.
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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