US Bancorp DE Lowers Stake in Mellanox Technologies, Ltd. (NASDAQ:MLNX)

US Bancorp DE lessened its holdings in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 22.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,556 shares of the semiconductor producer’s stock after selling 1,054 shares during the period. US Bancorp DE’s holdings in Mellanox Technologies were worth $421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can lifted its position in shares of Mellanox Technologies by 30.7% in the 1st quarter. Bank of Montreal Can now owns 426 shares of the semiconductor producer’s stock worth $51,000 after purchasing an additional 100 shares during the period. Private Capital Group LLC lifted its position in shares of Mellanox Technologies by 15.4% in the 1st quarter. Private Capital Group LLC now owns 908 shares of the semiconductor producer’s stock worth $107,000 after purchasing an additional 121 shares during the period. Northern Trust Corp lifted its position in shares of Mellanox Technologies by 0.5% in the 4th quarter. Northern Trust Corp now owns 38,003 shares of the semiconductor producer’s stock worth $3,511,000 after purchasing an additional 172 shares during the period. Nordea Investment Management AB lifted its position in shares of Mellanox Technologies by 0.9% in the 4th quarter. Nordea Investment Management AB now owns 42,800 shares of the semiconductor producer’s stock worth $3,954,000 after purchasing an additional 400 shares during the period. Finally, Security National Trust Co. purchased a new stake in shares of Mellanox Technologies in the 1st quarter worth approximately $59,000. 75.20% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently weighed in on MLNX. BidaskClub cut shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Barclays cut shares of Mellanox Technologies from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $108.00 to $125.00 in a research report on Tuesday, March 12th. Jefferies Financial Group cut shares of Mellanox Technologies from a “buy” rating to a “hold” rating and decreased their target price for the company from $130.00 to $125.00 in a research report on Friday, March 29th. Piper Jaffray Companies cut shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research report on Monday, March 11th. Finally, Susquehanna Bancshares cut shares of Mellanox Technologies from a “positive” rating to a “neutral” rating in a research report on Monday, March 11th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $115.00.

In other Mellanox Technologies news, Director Glenda Dorchak sold 4,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $118.30, for a total value of $473,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steve Sanghi purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average cost of $110.54 per share, with a total value of $2,210,800.00. The disclosure for this purchase can be found here. Corporate insiders own 4.20% of the company’s stock.

NASDAQ:MLNX traded down $0.74 during midday trading on Friday, reaching $110.05. 8,140 shares of the stock traded hands, compared to its average volume of 807,998. Mellanox Technologies, Ltd. has a 12-month low of $65.68 and a 12-month high of $121.13. The company has a quick ratio of 2.99, a current ratio of 3.38 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.18 and a beta of 0.41.

Mellanox Technologies (NASDAQ:MLNX) last posted its earnings results on Tuesday, April 16th. The semiconductor producer reported $1.15 EPS for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.30). Mellanox Technologies had a net margin of 12.69% and a return on equity of 17.69%. The firm had revenue of $305.20 million for the quarter, compared to analysts’ expectations of $300.40 million. During the same period in the previous year, the company earned $0.98 EPS. The company’s revenue was up 21.6% on a year-over-year basis. As a group, analysts expect that Mellanox Technologies, Ltd. will post 4.9 EPS for the current year.

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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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Institutional Ownership by Quarter for Mellanox Technologies (NASDAQ:MLNX)

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