Legal & General Group Plc maintained its stake in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,289 shares of the semiconductor producer’s stock at the end of the first quarter. Legal & General Group Plc’s holdings in Mellanox Technologies were worth $219,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of MLNX. State Street Corp increased its stake in shares of Mellanox Technologies by 14.2% in the fourth quarter. State Street Corp now owns 48,953 shares of the semiconductor producer’s stock valued at $2,003,000 after buying an additional 6,092 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of Mellanox Technologies by 45.1% in the fourth quarter. Guggenheim Capital LLC now owns 20,789 shares of the semiconductor producer’s stock valued at $850,000 after buying an additional 6,460 shares in the last quarter. Norges Bank acquired a new stake in shares of Mellanox Technologies during the fourth quarter valued at approximately $13,983,000. Creative Planning increased its stake in shares of Mellanox Technologies by 13,918.9% in the first quarter. Creative Planning now owns 5,187 shares of the semiconductor producer’s stock valued at $264,000 after buying an additional 5,150 shares in the last quarter. Finally, Cornerstone Financial Partners LLC acquired a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $380,000. Institutional investors and hedge funds own 67.63% of the company’s stock.
Mellanox Technologies, Ltd. (MLNX) traded up 1.0747% during trading on Friday, hitting $44.2202. The stock had a trading volume of 14,346 shares. The firm has a 50 day moving average of $44.63 and a 200-day moving average of $47.35. Mellanox Technologies, Ltd. has a 12 month low of $38.75 and a 12 month high of $52.80. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 6317.1714 and a beta of 0.68.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $212 million for the quarter, compared to analyst estimates of $209.62 million. Mellanox Technologies had a return on equity of 5.93% and a net margin of 0.09%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. Equities analysts predict that Mellanox Technologies, Ltd. will post $2.14 earnings per share for the current year.
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Several analysts have commented on MLNX shares. Piper Jaffray Companies downgraded Mellanox Technologies from an “overweight” rating to a “neutral” rating and set a $48.00 target price on the stock. in a research note on Thursday, April 27th. Credit Suisse Group downgraded Mellanox Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the company from $50.00 to $45.00 in a research note on Thursday, April 27th. Roth Capital downgraded Mellanox Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $60.00 to $53.00 in a research note on Thursday, April 27th. Zacks Investment Research downgraded Mellanox Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Finally, Jefferies Group LLC cut their target price on Mellanox Technologies from $41.00 to $38.00 and set an “underperform” rating on the stock in a research note on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $49.86.
In other news, CFO Yakov (Jacob) Shulman sold 2,407 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.00, for a total transaction of $113,129.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Shai Cohen sold 50,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total transaction of $2,358,000.00. The disclosure for this sale can be found here. Insiders have sold 64,953 shares of company stock worth $3,060,791 over the last three months. Corporate insiders own 6.05% of the company’s stock.
About Mellanox Technologies
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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