Mellanox Technologies VP Michael Kagan Sells 3,074 Shares (MLNX)
Mellanox Technologies (NASDAQ:MLNX) VP Michael Kagan sold 3,074 shares of the company’s stock on the open market in a transaction dated Thursday, September 4th. The stock was sold at an average price of $42.57, for a total value of $130,860.18. Following the completion of the transaction, the vice president now directly owns 153,220 shares of the company’s stock, valued at approximately $6,522,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Mellanox Technologies (NASDAQ:MLNX) traded down 0.02% during mid-day trading on Thursday, hitting $42.43. The stock had a trading volume of 479,492 shares. 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 $41.24 and its 200-day moving average is $37.20. The company’s market cap is $1.907 billion.
Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Thursday, July 24th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts expect that Mellanox Technologies will post $0.88 EPS for the current fiscal year.
Several analysts have recently commented on the stock. 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 investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Mellanox Technologies currently has a consensus 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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