Harel Insurance Investments & Financial Services Ltd. increased its stake in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 8,352.3% during the second quarter, Holdings Channel reports. The institutional investor owned 24,258 shares of the semiconductor producer’s stock after buying an additional 23,971 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Mellanox Technologies were worth $1,050,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC bought a new position in shares of Mellanox Technologies during the second quarter valued at about $106,000. First Interstate Bank bought a new position in shares of Mellanox Technologies during the first quarter valued at about $159,000. First Mercantile Trust Co. bought a new position in shares of Mellanox Technologies during the first quarter valued at about $174,000. Oppenheimer Asset Management Inc. bought a new position in shares of Mellanox Technologies during the first quarter valued at about $186,000. Finally, Wexford Capital LP bought a new position in shares of Mellanox Technologies during the first quarter valued at about $204,000. 67.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) opened at 44.75 on Thursday. The stock has a 50 day moving average of $44.64 and a 200 day moving average of $47.38. The stock has a market cap of $2.25 billion, a P/E ratio of 6392.86 and a beta of 0.68. Mellanox Technologies, Ltd. has a one year low of $38.75 and a one year high of $52.79.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.01. The company had revenue of $212 million during the quarter, compared to analysts’ expectations of $209.62 million. Mellanox Technologies had a return on equity of 5.93% and a net margin of 0.09%. Mellanox Technologies’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 EPS. On average, analysts forecast that Mellanox Technologies, Ltd. will post $2.14 EPS for the current year.
Several brokerages recently issued reports on MLNX. Jefferies Group LLC reissued an “underperform” rating and set a $38.00 target price on shares of Mellanox Technologies in a research note on Tuesday, June 20th. Piper Jaffray Companies restated a “hold” rating and set a $47.00 price objective on shares of Mellanox Technologies in a report on Friday, July 28th. Barclays PLC restated a “buy” rating and set a $50.00 price objective (down previously from $54.00) on shares of Mellanox Technologies in a report on Thursday, July 27th. Credit Suisse Group downgraded shares of Mellanox Technologies from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $45.00 in a report on Thursday, April 27th. Finally, BidaskClub downgraded shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Mellanox Technologies has an average rating of “Hold” and a consensus price target of $49.86.
In other news, Director Shai Cohen sold 12,546 shares of Mellanox Technologies stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $47.00, for a total value of $589,662.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Yakov (Jacob) Shulman sold 2,407 shares of Mellanox Technologies stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $47.00, for a total value of $113,129.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,953 shares of company stock valued at $3,060,791. 6.05% of the stock is owned by insiders.
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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