Mellanox Technologies, Ltd. (NASDAQ:MLNX) Expected to Post Earnings of $1.64 Per Share

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Brokerages forecast that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will post earnings per share (EPS) of $1.64 for the current quarter, Zacks reports. Two analysts have made estimates for Mellanox Technologies’ earnings, with the lowest EPS estimate coming in at $1.59 and the highest estimate coming in at $1.68. Mellanox Technologies reported earnings per share of $1.42 during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.5%. The company is scheduled to announce its next earnings report on Wednesday, January 29th.

On average, analysts expect that Mellanox Technologies will report full year earnings of $6.42 per share for the current financial year, with EPS estimates ranging from $6.39 to $6.48. For the next fiscal year, analysts forecast that the company will post earnings of $7.10 per share, with EPS estimates ranging from $7.04 to $7.15. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Mellanox Technologies.

Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Wednesday, October 30th. The semiconductor producer reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.11. Mellanox Technologies had a net margin of 14.03% and a return on equity of 18.84%. The firm had revenue of $335.30 million for the quarter, compared to analyst estimates of $315.59 million. During the same quarter last year, the business posted $1.33 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis.

A number of brokerages have weighed in on MLNX. ValuEngine lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Zacks Investment Research lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating and set a $125.00 target price on the stock. in a research report on Thursday, December 5th. Finally, BidaskClub upgraded shares of Mellanox Technologies from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $124.19.

Mellanox Technologies stock traded down $0.36 during mid-day trading on Friday, reaching $115.92. The company had a trading volume of 812,508 shares, compared to its average volume of 339,219. Mellanox Technologies has a fifty-two week low of $78.86 and a fifty-two week high of $121.13. The company has a market cap of $6.34 billion, a P/E ratio of 23.27, a P/E/G ratio of 1.04 and a beta of 0.50. The business has a fifty day simple moving average of $114.00 and a 200 day simple moving average of $111.36.

Several hedge funds have recently added to or reduced their stakes in the company. Voloridge Investment Management LLC raised its stake in shares of Mellanox Technologies by 135.5% during the third quarter. Voloridge Investment Management LLC now owns 109,767 shares of the semiconductor producer’s stock valued at $12,029,000 after acquiring an additional 63,150 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of Mellanox Technologies by 21.5% during the third quarter. Penserra Capital Management LLC now owns 6,686 shares of the semiconductor producer’s stock valued at $732,000 after acquiring an additional 1,183 shares during the last quarter. Phoenix Holdings Ltd. bought a new position in shares of Mellanox Technologies during the third quarter valued at $12,151,000. Virtu Financial LLC raised its stake in shares of Mellanox Technologies by 431.6% during the third quarter. Virtu Financial LLC now owns 14,753 shares of the semiconductor producer’s stock valued at $1,617,000 after acquiring an additional 11,978 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Mellanox Technologies by 26.1% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 745,207 shares of the semiconductor producer’s stock valued at $81,669,000 after acquiring an additional 154,453 shares during the last quarter. 76.05% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Mellanox Technologies (NASDAQ:MLNX)

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