ETF Managers Group LLC Invests $578,000 in Mellanox Technologies, Ltd. (MLNX) Stock
ETF Managers Group LLC purchased a new stake in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,353 shares of the semiconductor producer’s stock, valued at approximately $578,000.
Other hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in Mellanox Technologies during the 1st quarter valued at $22,861,000. JPMorgan Chase & Co. increased its stake in Mellanox Technologies by 57.7% during the 1st quarter. JPMorgan Chase & Co. now owns 151,088 shares of the semiconductor producer’s stock valued at $7,697,000 after purchasing an additional 55,275 shares in the last quarter. Vanguard Group Inc. increased its stake in Mellanox Technologies by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 133,428 shares of the semiconductor producer’s stock valued at $6,798,000 after purchasing an additional 8,841 shares in the last quarter. Handelsinvest Investeringsforvaltning increased its stake in Mellanox Technologies by 63.0% during the 2nd quarter. Handelsinvest Investeringsforvaltning now owns 87,200 shares of the semiconductor producer’s stock valued at $3,776,000 after purchasing an additional 33,700 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Mellanox Technologies by 943.8% during the 1st quarter. Sei Investments Co. now owns 34,739 shares of the semiconductor producer’s stock valued at $1,770,000 after purchasing an additional 31,411 shares in the last quarter. Institutional investors and hedge funds own 61.58% of the company’s stock.
MLNX has been the subject of a number of recent research reports. Jefferies Group LLC restated a “sell” rating and set a $38.00 price target on shares of Mellanox Technologies in a research note on Sunday, September 10th. Benchmark Co. initiated coverage on shares of Mellanox Technologies in a research note on Tuesday, August 29th. They set a “buy” rating and a $60.00 price target for the company. BidaskClub lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. 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. Finally, Zacks Investment Research upgraded shares of Mellanox Technologies from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $51.13.
In other news, Director Shai Cohen sold 12,546 shares of Mellanox Technologies stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $47.00, for a total transaction of $589,662.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Yakov (Jacob) Shulman sold 2,407 shares of Mellanox Technologies stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.00, for a total value of $113,129.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,453 shares of company stock valued at $3,402,241. Corporate insiders own 6.05% of the company’s stock.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) traded down 0.3247% during midday trading on Friday, reaching $47.3956. 20,451 shares of the company’s stock traded hands. Mellanox Technologies, Ltd. has a one year low of $38.75 and a one year high of $52.80. The stock’s 50 day moving average price is $46.23 and its 200-day moving average price is $46.79. The stock has a market cap of $2.38 billion, a PE ratio of 6770.7998 and a beta of 0.69.
Mellanox Technologies (NASDAQ:MLNX) last released 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 return on equity of 5.93% and a net margin of 0.09%. The business had revenue of $212.00 million during the quarter, compared to the consensus estimate of $209.62 million. During the same quarter in the previous year, the business posted $0.87 earnings per share. Mellanox Technologies’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities analysts predict that Mellanox Technologies, Ltd. will post $2.14 earnings per share for the current year.
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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