Bamco Inc. NY cut its stake in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 13.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,059 shares of the semiconductor producer’s stock after selling 17,421 shares during the period. Bamco Inc. NY’s holdings in Mellanox Technologies were worth $6,991,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Mellanox Technologies by 404.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,765 shares of the semiconductor producer’s stock worth $114,000 after acquiring an additional 1,415 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Mellanox Technologies in the fourth quarter worth about $166,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Mellanox Technologies by 36.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,955 shares of the semiconductor producer’s stock worth $191,000 after acquiring an additional 788 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Mellanox Technologies in the fourth quarter worth about $257,000. Finally, First Interstate Bank raised its stake in shares of Mellanox Technologies by 77.2% in the fourth quarter. First Interstate Bank now owns 4,660 shares of the semiconductor producer’s stock worth $302,000 after acquiring an additional 2,030 shares during the last quarter. 68.65% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the stock. BidaskClub raised shares of Mellanox Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 24th. Stifel Nicolaus boosted their target price on shares of Mellanox Technologies from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Summit Redstone set a $75.00 target price on shares of Mellanox Technologies and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Loop Capital started coverage on shares of Mellanox Technologies in a research note on Monday, January 29th. They set a “buy” rating and a $84.00 price target for the company. Finally, DA Davidson reissued a “buy” rating and set a $80.00 price target on shares of Mellanox Technologies in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $69.25.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.14. The business had revenue of $237.60 million during the quarter, compared to the consensus estimate of $235.43 million. Mellanox Technologies had a negative net margin of 2.25% and a positive return on equity of 4.76%. Mellanox Technologies’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. analysts predict that Mellanox Technologies, Ltd. will post 2.38 EPS for the current year.
In related news, VP Michael Kagan sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $71.00, for a total transaction of $355,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eyal Waldman sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $64.80, for a total transaction of $162,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,292 shares of company stock valued at $85,270 and have sold 79,971 shares valued at $5,299,940. 6.05% of the stock is currently owned by insiders.
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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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