Mellanox Technologies (MLNX) Releases Earnings Results, Beats Estimates By $0.14 EPS

Mellanox Technologies (NASDAQ:MLNX) announced its quarterly earnings data on Thursday. The semiconductor producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14, Briefing.com reports. The business had revenue of $237.60 million for the quarter, compared to analyst estimates of $235.43 million. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 earnings per share.

Mellanox Technologies (MLNX) opened at $65.10 on Friday. The stock has a market capitalization of $3,274.72, a P/E ratio of -406.88, a price-to-earnings-growth ratio of 2.25 and a beta of 0.62. The company has a current ratio of 3.12, a quick ratio of 2.78 and a debt-to-equity ratio of 0.17. Mellanox Technologies has a 1 year low of $40.70 and a 1 year high of $66.80.

A number of research analysts have recently weighed in on the company. Benchmark increased their price objective on Mellanox Technologies from $70.00 to $80.00 and gave the company a “buy” rating in a report on Friday. DA Davidson raised their target price on Mellanox Technologies to $75.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Zacks Investment Research lowered Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Longbow Research raised Mellanox Technologies from a “neutral” rating to a “buy” rating in a report on Friday, December 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Mellanox Technologies in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Mellanox Technologies currently has an average rating of “Hold” and a consensus target price of $61.20.

In other Mellanox Technologies news, CEO Eyal Waldman sold 2,500 shares of the stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $64.80, for a total transaction of $162,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Shai Cohen sold 50,000 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $47.15, for a total value of $2,357,500.00. The disclosure for this sale can be found here. Insiders have sold 260,718 shares of company stock worth $13,455,300 in the last quarter. 6.05% of the stock is currently owned by company insiders.

An institutional investor recently raised its position in Mellanox Technologies stock. State Street Corp grew its position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,753 shares of the semiconductor producer’s stock after acquiring an additional 2,725 shares during the quarter. State Street Corp owned about 0.11% of Mellanox Technologies worth $2,329,000 as of its most recent SEC filing. 60.81% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Earnings History for Mellanox Technologies (NASDAQ:MLNX)

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