Mellanox Technologies, Ltd. (MLNX) VP Marc Sultzbaugh Sells 5,000 Shares of Stock
Mellanox Technologies, Ltd. (NASDAQ:MLNX) VP Marc Sultzbaugh sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $49.00, for a total value of $245,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) opened at $49.10 on Tuesday. Mellanox Technologies, Ltd. has a twelve month low of $38.75 and a twelve month high of $52.79. The company has a market capitalization of $2,500.60, a P/E ratio of 52.23, a P/E/G ratio of 3.40 and a beta of 0.54. The company has a quick ratio of 2.78, a current ratio of 3.12 and a debt-to-equity ratio of 0.17.
Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.07. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The business had revenue of $225.70 million for the quarter, compared to analysts’ expectations of $226.74 million. During the same period in the prior year, the business posted $0.93 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. equities analysts predict that Mellanox Technologies, Ltd. will post 0.83 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the business. Chicago Partners Investment Group LLC acquired a new position in Mellanox Technologies in the second quarter valued at approximately $106,000. SG Americas Securities LLC acquired a new position in Mellanox Technologies in the second quarter valued at approximately $122,000. Legal & General Group Plc lifted its stake in Mellanox Technologies by 4.6% in the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after buying an additional 199 shares during the period. Juncture Wealth Strategies LLC acquired a new position in Mellanox Technologies in the third quarter valued at approximately $222,000. Finally, Harbour Capital Advisors LLC lifted its stake in 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 valued at $225,000 after buying an additional 9,518 shares during the period. 59.41% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the company. BidaskClub upgraded Mellanox Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Benchmark Co. assumed coverage on Mellanox Technologies in a research report on Tuesday, August 29th. They issued a “buy” rating and a $60.00 target price on the stock. Jefferies Group LLC restated a “sell” rating and set a $38.00 price target on shares of Mellanox Technologies in a report on Sunday, September 10th. TheStreet cut Mellanox Technologies from a “b-” rating to a “c” rating in a report on Friday, August 11th. Finally, KeyCorp restated a “hold” rating on shares of Mellanox Technologies in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $51.00.
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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