Insider Selling: Mellanox Technologies Director Unloads 5,000 Shares of Stock (MLNX)
Mellanox Technologies (NASDAQ:MLNX) Director Amal M. Johnson sold 5,000 shares of Mellanox Technologies stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $42.38, for a total transaction of $211,900.00. Following the completion of the sale, the director now directly owns 25,000 shares in the company, valued at approximately $1,059,500. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Mellanox Technologies (NASDAQ:MLNX) traded down 0.05% on Wednesday, hitting $42.44. 435,432 shares of the company’s stock traded hands. Mellanox Technologies has a 52-week low of $30.58 and a 52-week high of $46.04. The stock’s 50-day moving average is $41.17 and its 200-day moving average is $37.16. The company’s market cap is $1.908 billion.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $102.60 million for the quarter, compared to the consensus estimate of $102.64 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts predict that Mellanox Technologies will post $0.88 earnings per share for the current fiscal year.
MLNX has been the subject of a number of recent research reports. Analysts at Barclays upgraded shares of Mellanox Technologies from an “underweight” rating to an “equal weight” rating in a research note on Monday, August 4th. They now have a $45.00 price target on the stock, up previously from $36.00. Separately, analysts at Macquarie raised their price target on shares of Mellanox Technologies from $52.00 to $56.00 in a research note on Monday, July 28th. They now have an “outperform” rating on the stock. Finally, analysts at Topeka Capital Markets raised their price target on shares of Mellanox Technologies from $38.00 to $42.00 in a research note on Friday, July 25th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $48.17.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) is a fabless semiconductor company that produces and supplies high-performance interconnects products that facilitate efficient data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.
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