Short Interest in Mellanox Technologies, Ltd. (MLNX) Declines By 34.8%

Mellanox Technologies, Ltd. (NASDAQ:MLNX) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 1,760,653 shares, a decline of 34.8% from the November 30th total of 2,700,225 shares. Based on an average daily trading volume, of 576,477 shares, the short-interest ratio is currently 3.1 days. Currently, 3.9% of the company’s shares are sold short.

Mellanox Technologies (MLNX) opened at $64.70 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12. The company has a market cap of $3,300.00, a P/E ratio of -404.38, a P/E/G ratio of 2.51 and a beta of 0.62. Mellanox Technologies has a 52 week low of $40.70 and a 52 week high of $66.15.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. The firm had revenue of $225.70 million during the quarter, compared to analyst estimates of $226.74 million. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. Mellanox Technologies’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 EPS. analysts forecast that Mellanox Technologies will post 0.84 earnings per share for the current year.

In other Mellanox Technologies news, Director Shai Cohen sold 50,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $47.15, for a total value of $2,357,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eyal Waldman sold 121,772 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $50.00, for a total transaction of $6,088,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,218 shares of company stock valued at $13,098,460. 6.05% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Mellanox Technologies during the 2nd quarter worth approximately $122,000. Legal & General Group Plc raised its stake in shares of Mellanox Technologies by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock worth $194,000 after acquiring an additional 199 shares in the last quarter. Juncture Wealth Strategies LLC bought a new position in shares of Mellanox Technologies during the 3rd quarter worth approximately $222,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Mellanox Technologies during the 2nd quarter worth approximately $259,000. Finally, Sciencast Management LP bought a new position in shares of Mellanox Technologies during the 2nd quarter worth approximately $333,000. Hedge funds and other institutional investors own 60.81% of the company’s stock.

Several brokerages have recently weighed in on MLNX. Zacks Investment Research cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Longbow Research raised shares of Mellanox Technologies from a “neutral” rating to a “buy” rating in a research report on Friday, December 1st. KeyCorp reaffirmed a “hold” rating on shares of Mellanox Technologies in a research report on Tuesday, October 17th. Barclays set a $47.00 price target on shares of Mellanox Technologies and gave the stock a “sell” rating in a research report on Thursday, October 26th. Finally, BidaskClub raised shares of Mellanox Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $58.60.

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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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