ArrowMark Colorado Holdings LLC Purchases 35,000 Shares of Mellanox Technologies, Ltd. (MLNX)
ArrowMark Colorado Holdings LLC lifted its position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 46.7% in the fourth quarter, HoldingsChannel reports. The firm owned 110,000 shares of the semiconductor producer’s stock after acquiring an additional 35,000 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Mellanox Technologies were worth $7,117,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of MLNX. AO Asset Management LP acquired a new position in shares of Mellanox Technologies in the fourth quarter valued at $24,348,000. Senvest Management LLC raised its stake in shares of Mellanox Technologies by 27.5% in the third quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock valued at $51,257,000 after purchasing an additional 234,424 shares in the last quarter. 13D Management LLC acquired a new position in shares of Mellanox Technologies in the fourth quarter valued at $12,681,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Mellanox Technologies by 24,616.2% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 184,383 shares of the semiconductor producer’s stock valued at $11,930,000 after purchasing an additional 183,637 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Mellanox Technologies by 15.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,185,765 shares of the semiconductor producer’s stock valued at $55,909,000 after purchasing an additional 156,119 shares in the last quarter. Institutional investors and hedge funds own 68.65% of the company’s stock.
Shares of Mellanox Technologies, Ltd. (MLNX) opened at $72.60 on Friday. Mellanox Technologies, Ltd. has a 1 year low of $41.55 and a 1 year high of $73.00. The firm has a market capitalization of $3,770.00, a price-to-earnings ratio of -186.15, a price-to-earnings-growth ratio of 2.03 and a beta of 0.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.58 and a quick ratio of 2.25.
A number of brokerages recently commented on MLNX. Stifel Nicolaus upped their target price on Mellanox Technologies from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Longbow Research upgraded Mellanox Technologies from a “neutral” rating to a “buy” rating in a research note on Friday, December 1st. Susquehanna Bancshares restated a “positive” rating and issued a $80.00 target price (up from $75.00) on shares of Mellanox Technologies in a research note on Friday, January 19th. Loop Capital began coverage on Mellanox Technologies in a research note on Monday, January 29th. They issued a “buy” rating and a $84.00 target price for the company. Finally, Barclays upgraded Mellanox Technologies from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $47.00 to $55.00 in a research note on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $69.25.
In other news, CFO Yakov (Jacob) Shulman sold 12,590 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $65.75, for a total transaction of $827,792.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eyal Waldman sold 5,000 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $64.90, for a total value of $324,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 1,292 shares of company stock worth $85,270 and have sold 79,971 shares worth $5,299,940. 6.05% of the stock is currently owned by corporate insiders.
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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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