Wall Street analysts expect Mellanox Technologies, Ltd. (NASDAQ:MLNX) to announce $322.27 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Mellanox Technologies’ earnings, with the highest sales estimate coming in at $337.50 million and the lowest estimate coming in at $314.20 million. Mellanox Technologies posted sales of $279.21 million during the same quarter last year, which suggests a positive year-over-year growth rate of 15.4%. The company is scheduled to issue its next earnings results on Wednesday, October 23rd.

On average, analysts expect that Mellanox Technologies will report full year sales of $1.28 billion for the current fiscal year, with estimates ranging from $1.25 billion to $1.32 billion. For the next financial year, analysts anticipate that the business will report sales of $1.43 billion, with estimates ranging from $1.38 billion to $1.49 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Mellanox Technologies.

Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor producer reported $1.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.10). The company had revenue of $310.30 million during the quarter, compared to the consensus estimate of $307.24 million. Mellanox Technologies had a net margin of 14.09% and a return on equity of 16.86%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS.

A number of brokerages recently issued reports on MLNX. BidaskClub lowered Mellanox Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 31st. Zacks Investment Research raised Mellanox Technologies from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Tuesday, July 16th. Finally, ValuEngine cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Mellanox Technologies presently has a consensus rating of “Hold” and a consensus target price of $117.99.

In other Mellanox Technologies news, VP Marc Sultzbaugh sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $109.00, for a total transaction of $272,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Glenda Dorchak sold 1,750 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $112.12, for a total value of $196,210.00. Following the transaction, the director now directly owns 20,716 shares in the company, valued at approximately $2,322,677.92. The disclosure for this sale can be found here. Insiders have sold a total of 11,750 shares of company stock worth $1,288,085 over the last three months. Insiders own 4.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLNX. Bank of Montreal Can lifted its stake in Mellanox Technologies by 30.7% in the first quarter. Bank of Montreal Can now owns 426 shares of the semiconductor producer’s stock valued at $51,000 after acquiring an additional 100 shares during the last quarter. Comerica Bank raised its holdings in shares of Mellanox Technologies by 4.8% in the 2nd quarter. Comerica Bank now owns 3,290 shares of the semiconductor producer’s stock valued at $368,000 after purchasing an additional 150 shares during the period. Lido Advisors LLC raised its holdings in shares of Mellanox Technologies by 4.7% in the 1st quarter. Lido Advisors LLC now owns 3,636 shares of the semiconductor producer’s stock valued at $430,000 after purchasing an additional 162 shares during the period. Cerebellum GP LLC lifted its stake in Mellanox Technologies by 7.6% in the 2nd quarter. Cerebellum GP LLC now owns 3,003 shares of the semiconductor producer’s stock valued at $332,000 after purchasing an additional 212 shares during the last quarter. Finally, USA Financial Portformulas Corp lifted its stake in Mellanox Technologies by 19.4% in the 2nd quarter. USA Financial Portformulas Corp now owns 2,188 shares of the semiconductor producer’s stock valued at $259,000 after purchasing an additional 356 shares during the last quarter. 75.99% of the stock is owned by institutional investors.

Shares of NASDAQ:MLNX traded up $1.37 during mid-day trading on Friday, reaching $110.45. 440,134 shares of the stock were exchanged, compared to its average volume of 980,454. The company has a market cap of $6.01 billion, a P/E ratio of 28.69, a P/E/G ratio of 0.92 and a beta of 0.46. Mellanox Technologies has a one year low of $65.68 and a one year high of $121.13. The stock’s 50 day simple moving average is $109.24 and its 200-day simple moving average is $112.95.

About Mellanox Technologies

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, markets, and sells interconnect products and solutions. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment, and other embedded systems. The company offers InfiniBand solutions, including switch and gateway integrated circuits (ICs), adapter cards, cables, modules, and software, as well as switch, gateway, and long-haul systems; and Ethernet solutions, such as Ethernet switch products and Ethernet adapters for use in enterprise data center, high-performance computing, embedded environments, hyperscale, Web 2.0, and cloud data centers.

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Earnings History and Estimates for Mellanox Technologies (NASDAQ:MLNX)

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