Analysts forecast that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will announce sales of $226.70 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Mellanox Technologies’ earnings, with the highest sales estimate coming in at $228.22 million and the lowest estimate coming in at $225.00 million. Mellanox Technologies posted sales of $224.21 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.1%. The firm is expected to issue its next earnings report on Thursday, October 26th.

On average, analysts expect that Mellanox Technologies will report full year sales of $226.70 million for the current financial year, with estimates ranging from $862.60 million to $878.00 million. For the next financial year, analysts expect that the firm will report sales of $986.26 million per share, with estimates ranging from $953.90 million to $1.05 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Mellanox Technologies.

Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Mellanox Technologies had a return on equity of 5.98% and a net margin of 0.09%. The company had revenue of $212 million during the quarter, compared to analysts’ expectations of $209.62 million. During the same period in the previous year, the company earned $0.87 EPS. Mellanox Technologies’s quarterly revenue was down 1.3% on a year-over-year basis.

Several equities analysts have weighed in on the company. Jefferies Group LLC restated an “underperform” rating and set a $38.00 target price on shares of Mellanox Technologies in a report on Tuesday, June 20th. Piper Jaffray Companies restated a “hold” rating and set a $47.00 target price on shares of Mellanox Technologies in a report on Friday, July 28th. Barclays PLC restated a “buy” rating and set a $50.00 target price (down from $54.00) on shares of Mellanox Technologies in a report on Thursday, July 27th. Credit Suisse Group lowered Mellanox Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the company from $50.00 to $45.00 in a report on Thursday, April 27th. Finally, BidaskClub lowered Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $49.86.

Shares of Mellanox Technologies (MLNX) opened at 45.10 on Tuesday. The stock has a 50 day moving average price of $44.44 and a 200 day moving average price of $47.34. The stock has a market cap of $2.26 billion, a P/E ratio of 6442.86 and a beta of 0.68. Mellanox Technologies has a 12 month low of $38.75 and a 12 month high of $52.79.

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In related news, Director Shai Cohen sold 50,000 shares of Mellanox Technologies stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $47.16, for a total transaction of $2,358,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Yakov (Jacob) Shulman sold 2,407 shares of Mellanox Technologies stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $47.00, for a total value of $113,129.00. The disclosure for this sale can be found here. Insiders sold 64,953 shares of company stock worth $3,060,791 over the last quarter. 6.05% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. purchased a new stake in Mellanox Technologies during the first quarter worth $52,836,000. Menora Mivtachim Holdings LTD. increased its stake in Mellanox Technologies by 128.3% in the first quarter. Menora Mivtachim Holdings LTD. now owns 1,347,105 shares of the semiconductor producer’s stock worth $68,635,000 after buying an additional 757,000 shares during the period. Snow Capital Management LP purchased a new stake in Mellanox Technologies during the first quarter worth $33,813,000. FMR LLC increased its stake in Mellanox Technologies by 24.7% in the first quarter. FMR LLC now owns 3,298,585 shares of the semiconductor producer’s stock worth $168,064,000 after buying an additional 654,046 shares during the period. Finally, FIL Ltd increased its stake in Mellanox Technologies by 78.5% in the first quarter. FIL Ltd now owns 1,390,315 shares of the semiconductor producer’s stock worth $70,836,000 after buying an additional 611,541 shares during the period. 67.63% of the stock is currently owned by institutional investors and hedge funds.

About Mellanox Technologies

Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company is an integrated supplier of interconnect products and solutions based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.

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

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