Mellanox Technologies, Ltd. (NASDAQ:MLNX) – Research analysts at DA Davidson lifted their Q4 2018 EPS estimates for Mellanox Technologies in a research note issued on Thursday. DA Davidson analyst M. Kelleher now anticipates that the semiconductor producer will post earnings of $0.60 per share for the quarter, up from their previous forecast of $0.56.

Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The company had revenue of $225.70 million during the quarter, compared to analysts’ expectations of $226.74 million. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.82%. Mellanox Technologies’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the business earned $0.93 EPS.

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Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Credit Suisse Group set a $45.00 price objective on Mellanox Technologies and gave the company a “hold” rating in a report on Thursday, July 27th. Barclays PLC downgraded Mellanox Technologies from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $50.00 to $48.00 in a report on Monday, October 9th. Finally, Stifel Nicolaus decreased their price objective on Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $51.00.

Mellanox Technologies (NASDAQ:MLNX) traded up 1.40% during mid-day trading on Monday, reaching $47.10. 172,816 shares of the company were exchanged. The stock has a 50-day moving average of $46.08 and a 200 day moving average of $46.09. Mellanox Technologies has a 1-year low of $38.75 and a 1-year high of $52.79. The firm has a market capitalization of $2.37 billion, a P/E ratio of 6728.57 and a beta of 0.69.

In other Mellanox Technologies news, VP Michael Kagan sold 2,500 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $46.56, for a total value of $116,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shai Cohen sold 50,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total value of $2,358,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 59,907 shares of company stock valued at $2,812,579. 6.05% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC acquired a new stake in Mellanox Technologies in the second quarter valued at $106,000. SG Americas Securities LLC purchased a new position in shares of Mellanox Technologies in the second quarter valued at $122,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Mellanox Technologies in the first quarter valued at $186,000. Legal & General Group Plc increased its position in shares of Mellanox Technologies by 4.6% in the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after buying an additional 199 shares in the last quarter. Finally, Juncture Wealth Strategies LLC purchased a new position in shares of Mellanox Technologies in the third quarter valued at $222,000. 60.92% of the stock is owned by institutional investors.

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.

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

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