Mellanox Technologies, Ltd. (NASDAQ:MLNX) VP Michael Kagan sold 2,500 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $46.56, for a total value of $116,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Michael Kagan also recently made the following trade(s):
- On Monday, August 28th, Michael Kagan sold 5,000 shares of Mellanox Technologies stock. The stock was sold at an average price of $45.01, for a total value of $225,050.00.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) traded up 0.86% on Tuesday, hitting $47.10. The stock had a trading volume of 304,076 shares. The company’s 50 day moving average is $45.30 and its 200-day moving average is $47.07. Mellanox Technologies, Ltd. has a 1-year low of $38.75 and a 1-year high of $52.80. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 6728.57 and a beta of 0.65.
Mellanox Technologies (NASDAQ:MLNX) last posted its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $212.00 million for the quarter, compared to the consensus estimate of $209.62 million. Mellanox Technologies had a return on equity of 5.93% and a net margin of 0.09%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 EPS. On average, analysts forecast that Mellanox Technologies, Ltd. will post $2.14 EPS for the current year.
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Several institutional investors have recently modified their holdings of MLNX. Janney Montgomery Scott LLC grew its stake in shares of Mellanox Technologies by 123.0% in the first quarter. Janney Montgomery Scott LLC now owns 11,033 shares of the semiconductor producer’s stock worth $562,000 after purchasing an additional 6,086 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Mellanox Technologies in the first quarter worth $6,878,000. Canada Pension Plan Investment Board grew its stake in shares of Mellanox Technologies by 395.1% in the first quarter. Canada Pension Plan Investment Board now owns 26,315 shares of the semiconductor producer’s stock worth $1,341,000 after purchasing an additional 21,000 shares during the last quarter. US Bancorp DE grew its stake in shares of Mellanox Technologies by 521.4% in the first quarter. US Bancorp DE now owns 4,859 shares of the semiconductor producer’s stock worth $248,000 after purchasing an additional 4,077 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Mellanox Technologies by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 734,249 shares of the semiconductor producer’s stock worth $37,411,000 after purchasing an additional 20,063 shares during the last quarter. 61.58% of the stock is currently owned by institutional investors.
Several research firms have issued reports on MLNX. BidaskClub downgraded Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “sell” rating and set a $38.00 price objective on shares of Mellanox Technologies in a report on Sunday. Zacks Investment Research downgraded Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 1st. TheStreet downgraded Mellanox Technologies from a “b-” rating to a “c” rating in a report on Friday, August 11th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Mellanox Technologies in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Mellanox Technologies has an average rating of “Hold” and an average price target of $51.13.
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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