Bank Hapoalim BM Sells 8,688 Shares of Mellanox Technologies, Ltd. (MLNX)
Bank Hapoalim BM reduced its position in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 22.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,819 shares of the semiconductor producer’s stock after selling 8,688 shares during the period. Bank Hapoalim BM owned approximately 0.06% of Mellanox Technologies worth $1,453,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC purchased a new position in Mellanox Technologies during the second quarter worth about $106,000. SG Americas Securities LLC purchased a new position in Mellanox Technologies during the second quarter worth about $122,000. Legal & General Group Plc raised its holdings in Mellanox Technologies by 4.6% during the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock worth $194,000 after purchasing an additional 199 shares in the last quarter. Juncture Wealth Strategies LLC purchased a new position in Mellanox Technologies during the third quarter worth about $222,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Mellanox Technologies during the second quarter worth about $259,000. 59.41% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Michael Kagan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $45.01, for a total transaction of $225,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glenda Dorchak sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $50.00, for a total transaction of $400,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,478 shares of company stock valued at $9,676,642. 6.05% of the stock is currently owned by corporate insiders.
Shares of Mellanox Technologies, Ltd. (MLNX) traded down $0.30 during trading on Wednesday, reaching $48.80. 643,100 shares of the company’s stock were exchanged, compared to its average volume of 574,636. Mellanox Technologies, Ltd. has a 12 month low of $38.75 and a 12 month high of $52.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12. The stock has a market capitalization of $2,500.60, a PE ratio of 52.23, a PEG ratio of 3.39 and a beta of 0.54.
Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.07. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The company had revenue of $225.70 million during the quarter, compared to analysts’ expectations of $226.74 million. During the same period last year, the company posted $0.93 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. research analysts predict that Mellanox Technologies, Ltd. will post 0.83 earnings per share for the current fiscal year.
Several research firms recently issued reports on MLNX. BidaskClub cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Zacks Investment Research cut shares of Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 1st. TheStreet cut shares of Mellanox Technologies from a “b-” rating to a “c” rating in a report on Friday, August 11th. Barclays PLC set a $47.00 price target on shares of Mellanox Technologies and gave the stock a “sell” rating in a report on Thursday, October 26th. Finally, KeyCorp reissued a “hold” rating on shares of Mellanox Technologies in a report on Friday, September 1st. Three equities research 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’s stock. The company presently has an average rating of “Hold” and a consensus price target of $51.00.
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Mellanox Technologies 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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