Mellanox Technologies, Ltd. (MLNX) Position Raised by Legal & General Group Plc
Legal & General Group Plc increased its holdings in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 4.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,488 shares of the semiconductor producer’s stock after buying an additional 199 shares during the period. Legal & General Group Plc’s holdings in Mellanox Technologies were worth $194,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MLNX. Chicago Partners Investment Group LLC purchased a new stake in shares of Mellanox Technologies in the second quarter worth $106,000. SG Americas Securities LLC purchased a new stake in shares of Mellanox Technologies in the second quarter worth $122,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Mellanox Technologies in the first quarter worth $186,000. Harbour Capital Advisors LLC raised its position in shares of Mellanox Technologies by 4,230.2% in the second quarter. Harbour Capital Advisors LLC now owns 9,743 shares of the semiconductor producer’s stock worth $225,000 after buying an additional 9,518 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Mellanox Technologies in the first quarter worth $236,000. Institutional investors own 61.58% of the company’s stock.
In related news, VP Michael Kagan sold 5,000 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $45.01, for a total value of $225,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Shai Cohen sold 50,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $47.16, for a total transaction of $2,358,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 72,453 shares of company stock worth $3,402,241 over the last 90 days. Corporate insiders own 6.05% of the company’s stock.
A number of brokerages recently issued reports on MLNX. Barclays PLC downgraded Mellanox Technologies from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $50.00 to $48.00 in a research report on Monday. BidaskClub upgraded Mellanox Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 1st. KeyCorp restated a “hold” rating on shares of Mellanox Technologies in a research report on Friday, September 1st. Finally, Jefferies Group LLC restated a “sell” rating and set a $38.00 price target on shares of Mellanox Technologies in a research report on Sunday, September 10th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Mellanox Technologies currently has a consensus rating of “Hold” and an average target price of $50.88.
Mellanox Technologies, Ltd. (MLNX) opened at 44.70 on Friday. Mellanox Technologies, Ltd. has a 12-month low of $38.75 and a 12-month high of $52.79. The stock has a market cap of $2.25 billion, a P/E ratio of 6385.71 and a beta of 0.69. The stock has a 50 day moving average price of $46.55 and a 200 day moving average price of $46.60.
Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business had revenue of $212.00 million for the quarter, compared to analysts’ expectations of $209.62 million. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.93%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, analysts forecast that Mellanox Technologies, Ltd. will post $2.14 earnings per share for the current fiscal year.
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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