Tyers Asset Management LLC purchased a new stake in Mellanox Technologies, Ltd. (NASDAQ:MLNX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 656 shares of the semiconductor producer’s stock, valued at approximately $73,000.
Several other large investors also recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Mellanox Technologies by 1.8% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,922,386 shares of the semiconductor producer’s stock valued at $227,534,000 after purchasing an additional 33,874 shares during the last quarter. Alpine Associates Management Inc. increased its holdings in shares of Mellanox Technologies by 31.8% in the second quarter. Alpine Associates Management Inc. now owns 1,565,900 shares of the semiconductor producer’s stock valued at $173,298,000 after purchasing an additional 377,390 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Mellanox Technologies by 27.0% in the first quarter. Neuberger Berman Group LLC now owns 1,404,302 shares of the semiconductor producer’s stock valued at $166,207,000 after purchasing an additional 298,466 shares during the last quarter. Renaissance Technologies LLC grew its position in Mellanox Technologies by 0.9% in the second quarter. Renaissance Technologies LLC now owns 1,221,383 shares of the semiconductor producer’s stock worth $135,170,000 after acquiring an additional 10,600 shares during the period. Finally, CNH Partners LLC purchased a new position in Mellanox Technologies in the first quarter worth approximately $111,064,000. 75.99% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Marc Sultzbaugh sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $109.25, for a total transaction of $819,375.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Glenda Dorchak sold 1,750 shares of the firm’s stock in a transaction 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 owns 20,716 shares of the company’s stock, valued at $2,322,677.92. The disclosure for this sale can be found here. Insiders sold 11,750 shares of company stock valued at $1,288,085 over the last quarter. 4.20% of the stock is currently owned by company insiders.
Several research analysts recently weighed in on MLNX shares. ValuEngine lowered Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. BidaskClub lowered Mellanox Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 31st. Finally, Zacks Investment Research upgraded Mellanox Technologies from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $117.99.
Mellanox Technologies stock traded up $0.18 during mid-day trading on Friday, hitting $111.44. The company’s stock had a trading volume of 221,351 shares, compared to its average volume of 385,296. The firm has a market capitalization of $6.10 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 0.93 and a beta of 0.46. Mellanox Technologies, Ltd. has a 1 year low of $65.68 and a 1 year high of $121.13. The stock’s fifty day moving average is $109.15 and its two-hundred day moving average is $113.01.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor producer reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.10). The business had revenue of $310.30 million during the quarter, compared to analysts’ expectations of $307.24 million. Mellanox Technologies had a return on equity of 16.86% and a net margin of 14.09%. The company’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. As a group, analysts predict that Mellanox Technologies, Ltd. will post 5.51 earnings per share for the current fiscal year.
Mellanox Technologies Company Profile
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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