Insider Selling: Mellanox Technologies, Ltd. (NASDAQ:MLNX) VP Sells 7,500 Shares of Stock

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Mellanox Technologies, Ltd. (NASDAQ:MLNX) VP Marc Sultzbaugh sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $109.25, for a total value of $819,375.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Marc Sultzbaugh also recently made the following trade(s):

  • On Thursday, August 8th, Marc Sultzbaugh sold 2,500 shares of Mellanox Technologies stock. The stock was sold at an average price of $109.00, for a total value of $272,500.00.

NASDAQ:MLNX opened at $110.45 on Thursday. Mellanox Technologies, Ltd. has a fifty-two week low of $65.68 and a fifty-two week high of $121.13. The company has a 50 day moving average price of $109.19 and a 200 day moving average price of $112.98. The stock has a market capitalization of $6.01 billion, a P/E ratio of 28.69, a PEG ratio of 0.92 and a beta of 0.46.

Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Wednesday, July 24th. The semiconductor producer reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.10). Mellanox Technologies had a net margin of 14.09% and a return on equity of 16.86%. The firm had revenue of $310.30 million during the quarter, compared to analysts’ expectations of $307.24 million. During the same period in the previous year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities analysts predict that Mellanox Technologies, Ltd. will post 5.51 earnings per share for the current year.

Several equities analysts have recently commented on the company. BidaskClub lowered Mellanox Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 31st. Zacks Investment Research raised Mellanox Technologies from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Tuesday, July 16th. Finally, ValuEngine lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $117.99.

Several hedge funds and other institutional investors have recently modified their holdings of MLNX. Clal Insurance Enterprises Holdings Ltd lifted its stake in Mellanox Technologies by 13.4% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,180,158 shares of the semiconductor producer’s stock worth $241,278,000 after acquiring an additional 257,772 shares in the last quarter. Alpine Associates Management Inc. increased its stake in Mellanox Technologies by 31.8% during the second quarter. Alpine Associates Management Inc. now owns 1,565,900 shares of the semiconductor producer’s stock worth $173,298,000 after purchasing an additional 377,390 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Mellanox Technologies by 27.0% during the first quarter. Neuberger Berman Group LLC now owns 1,404,302 shares of the semiconductor producer’s stock worth $166,207,000 after purchasing an additional 298,466 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Mellanox Technologies by 0.9% in the second quarter. Renaissance Technologies LLC now owns 1,221,383 shares of the semiconductor producer’s stock valued at $135,170,000 after purchasing an additional 10,600 shares during the period. Finally, CNH Partners LLC purchased a new position in shares of Mellanox Technologies in the first quarter valued at approximately $111,064,000. 75.99% of the stock is owned by institutional investors and hedge funds.

About Mellanox Technologies

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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Insider Buying and Selling by Quarter for Mellanox Technologies (NASDAQ:MLNX)

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