Sciencast Management LP Takes $333,000 Position in Mellanox Technologies, Ltd. (MLNX)
Sciencast Management LP purchased a new position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,700 shares of the semiconductor producer’s stock, valued at approximately $333,000.
Other large investors have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in Mellanox Technologies in the 1st quarter worth approximately $22,861,000. JPMorgan Chase & Co. increased its holdings in Mellanox Technologies by 57.7% in the 1st quarter. JPMorgan Chase & Co. now owns 151,088 shares of the semiconductor producer’s stock worth $7,697,000 after buying an additional 55,275 shares during the period. Vanguard Group Inc. increased its holdings in Mellanox Technologies by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 133,428 shares of the semiconductor producer’s stock worth $6,798,000 after buying an additional 8,841 shares during the period. Geode Capital Management LLC increased its holdings in Mellanox Technologies by 16.3% in the 1st quarter. Geode Capital Management LLC now owns 27,026 shares of the semiconductor producer’s stock worth $1,376,000 after buying an additional 3,784 shares during the period. Finally, Handelsinvest Investeringsforvaltning increased its holdings in Mellanox Technologies by 63.0% in the 2nd quarter. Handelsinvest Investeringsforvaltning now owns 87,200 shares of the semiconductor producer’s stock worth $3,776,000 after buying an additional 33,700 shares during the period. Institutional investors own 61.58% of the company’s stock.
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In other news, CFO Yakov (Jacob) Shulman sold 2,407 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $47.00, for a total value of $113,129.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Shai Cohen sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total value of $2,358,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 72,453 shares of company stock worth $3,402,241. Corporate insiders own 6.05% of the company’s stock.
Shares of Mellanox Technologies, Ltd. (NASDAQ MLNX) traded down 4.00% during midday trading on Monday, hitting $45.60. 167,911 shares of the stock were exchanged. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 6514.29 and a beta of 0.69. The firm has a 50 day moving average of $46.34 and a 200-day moving average of $46.75. Mellanox Technologies, Ltd. has a one year low of $38.75 and a one year high of $52.79.
Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). The company had revenue of $212.00 million during the quarter, compared to analyst estimates of $209.62 million. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.93%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. Equities analysts expect that Mellanox Technologies, Ltd. will post $2.14 EPS for the current year.
MLNX has been the topic of several research reports. Jefferies Group LLC reiterated a “sell” rating and issued a $38.00 price target on shares of Mellanox Technologies in a report on Sunday, September 10th. Benchmark Co. initiated coverage on shares of Mellanox Technologies in a report on Tuesday, August 29th. They issued a “buy” rating and a $60.00 price target on the stock. BidaskClub downgraded shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Barclays PLC downgraded shares of Mellanox Technologies from an “overweight” rating to an “underweight” rating and set a $50.00 price target on the stock. in a report on Monday. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $47.00 price target on shares of Mellanox Technologies in a report on Friday, July 28th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Mellanox Technologies has a consensus rating of “Hold” and a consensus price target of $51.13.
Mellanox Technologies Company Profile
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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