Short Interest in Mellanox Technologies, Ltd. (NASDAQ:MLNX) Increases By 5.8%

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Mellanox Technologies, Ltd. (NASDAQ:MLNX) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 2,215,900 shares, a growth of 5.8% from the May 30th total of 2,094,300 shares. Approximately 4.5% of the shares of the company are sold short. Based on an average daily volume of 698,700 shares, the days-to-cover ratio is currently 3.2 days.

MLNX has been the subject of a number of research reports. BidaskClub raised Zillow Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. Zacks Investment Research downgraded Hudson Technologies from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Rosenblatt Securities lifted their target price on QUALCOMM from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group dropped their target price on MAV Beauty Brands from C$15.00 to C$14.00 in a report on Friday, March 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Mellanox Technologies has a consensus rating of “Hold” and an average price target of $113.88.

MLNX stock traded up $0.04 during midday trading on Tuesday, reaching $111.92. The company had a trading volume of 612 shares, compared to its average volume of 439,162. The stock has a market capitalization of $6.14 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 1.19 and a beta of 0.37. The company’s 50 day simple moving average is $111.22. Mellanox Technologies has a 1-year low of $65.68 and a 1-year high of $121.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.38 and a quick ratio of 2.99.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Tuesday, April 16th. The semiconductor producer reported $1.15 EPS for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.30). The company had revenue of $305.20 million during the quarter, compared to analyst estimates of $300.40 million. Mellanox Technologies had a net margin of 12.69% and a return on equity of 17.69%. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Research analysts anticipate that Mellanox Technologies will post 4.9 EPS for the current year.

In other news, Director Glenda Dorchak sold 1,750 shares of Mellanox Technologies stock in a transaction on Monday, July 8th. The stock was sold at an average price of $112.12, for a total transaction of $196,210.00. Following the completion of the sale, the director now owns 20,716 shares of the company’s stock, valued at $2,322,677.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steve Sanghi bought 20,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average cost of $110.54 per share, with a total value of $2,210,800.00. The disclosure for this purchase can be found here. Company insiders own 4.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MLNX. Bank of Montreal Can grew its position in Mellanox Technologies by 30.7% in the first quarter. Bank of Montreal Can now owns 426 shares of the semiconductor producer’s stock valued at $51,000 after acquiring an additional 100 shares during the last quarter. Security National Trust Co. bought a new position in Mellanox Technologies in the first quarter valued at about $59,000. Private Capital Group LLC grew its position in Mellanox Technologies by 15.4% in the first quarter. Private Capital Group LLC now owns 908 shares of the semiconductor producer’s stock valued at $107,000 after acquiring an additional 121 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Mellanox Technologies by 63.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 926 shares of the semiconductor producer’s stock valued at $110,000 after acquiring an additional 359 shares during the last quarter. Finally, QS Investors LLC grew its position in Mellanox Technologies by 1,374.0% in the fourth quarter. QS Investors LLC now owns 1,813 shares of the semiconductor producer’s stock valued at $168,000 after acquiring an additional 1,690 shares during the last quarter. 75.09% of the stock is owned by institutional investors and hedge funds.

Mellanox Technologies Company Profile

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, markets, and sells interconnect products and solutions. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment, and other embedded systems. The company offers InfiniBand solutions, including switch and gateway integrated circuits (ICs), adapter cards, cables, modules, and software, as well as switch, gateway, and long-haul systems; and Ethernet solutions, such as Ethernet switch products and Ethernet adapters for use in enterprise data center, high-performance computing, embedded environments, hyperscale, Web 2.0, and cloud data centers.

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