Mellanox Technologies, Ltd. (MLNX) Sees Strong Trading Volume

Shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) saw an uptick in trading volume on Tuesday . 3,201,300 shares were traded during mid-day trading, an increase of 446% from the previous session’s volume of 585,810 shares.The stock last traded at $56.50 and had previously closed at $51.05.

A number of brokerages recently commented on MLNX. BidaskClub downgraded shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. TheStreet downgraded shares of Mellanox Technologies from a “b-” rating to a “c” rating in a research note on Friday, August 11th. Barclays PLC reissued a “buy” rating and issued a $50.00 price objective (down previously from $54.00) on shares of Mellanox Technologies in a research note on Thursday, July 27th. Finally, KeyCorp reissued a “hold” rating on shares of Mellanox Technologies in a research note on Friday, September 1st. Three 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 stock. The company presently has a consensus rating of “Hold” and a consensus price target of $51.00.

The firm has a market cap of $2,550.00, a price-to-earnings ratio of 53.24, a PEG ratio of 3.46 and a beta of 0.54. The company has a current ratio of 3.12, a quick ratio of 2.78 and a debt-to-equity ratio of 0.17.

Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $225.70 million for the quarter, compared to analyst estimates of $226.74 million. During the same period in the previous year, the company earned $0.93 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. analysts forecast that Mellanox Technologies, Ltd. will post 0.83 EPS for the current fiscal year.

In other news, VP Michael Kagan sold 5,000 shares of Mellanox Technologies stock in a transaction on Monday, August 28th. The shares were sold at an average price of $45.01, for a total transaction of $225,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dov Baharav sold 20,000 shares of Mellanox Technologies stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $49.50, for a total transaction of $990,000.00. The disclosure for this sale can be found here. Insiders sold 217,478 shares of company stock worth $10,666,642 over the last ninety days. Corporate insiders own 6.05% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors lifted its position in Mellanox Technologies by 29.8% during the second quarter. Capital Research Global Investors now owns 2,139,726 shares of the semiconductor producer’s stock valued at $92,650,000 after purchasing an additional 490,726 shares during the period. Menora Mivtachim Holdings LTD. lifted its position in Mellanox Technologies by 36.2% during the third quarter. Menora Mivtachim Holdings LTD. now owns 1,834,105 shares of the semiconductor producer’s stock valued at $86,478,000 after purchasing an additional 487,000 shares during the period. Ion Asset Management Ltd. lifted its position in Mellanox Technologies by 9.1% during the second quarter. Ion Asset Management Ltd. now owns 1,247,141 shares of the semiconductor producer’s stock valued at $54,001,000 after purchasing an additional 104,014 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its position in Mellanox Technologies by 15.2% during 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 during the period. Finally, Senvest Management LLC lifted its position in Mellanox Technologies by 27.5% during 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 during the period. Institutional investors own 59.72% of the company’s stock.

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Mellanox Technologies Company 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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