$235.25 Million in Sales Expected for Mellanox Technologies, Ltd. (MLNX) This Quarter
Equities analysts predict that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will post sales of $235.25 million for the current quarter, according to Zacks. Four analysts have made estimates for Mellanox Technologies’ earnings. The lowest sales estimate is $233.00 million and the highest is $237.00 million. Mellanox Technologies reported sales of $221.68 million in the same quarter last year, which indicates a positive year over year growth rate of 6.1%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 7th.
On average, analysts expect that Mellanox Technologies will report full year sales of $235.25 million for the current year, with estimates ranging from $859.30 million to $863.20 million. For the next financial year, analysts forecast that the business will post sales of $974.61 million per share, with estimates ranging from $955.75 million to $983.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Mellanox Technologies.
Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. The company had revenue of $225.70 million during the quarter, compared to analyst estimates of $226.74 million. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS.
Shares of Mellanox Technologies (MLNX) traded up $0.30 during trading hours on Wednesday, hitting $65.00. 387,300 shares of the company’s stock were exchanged, compared to its average volume of 335,050. The firm has a market cap of $3,310.00, a price-to-earnings ratio of -406.25, a P/E/G ratio of 2.50 and a beta of 0.62. Mellanox Technologies has a 52 week low of $40.70 and a 52 week high of $66.15. The company has a quick ratio of 2.78, a current ratio of 3.12 and a debt-to-equity ratio of 0.17.
In related news, CEO Eyal Waldman sold 121,772 shares of Mellanox Technologies stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $50.00, for a total value of $6,088,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amal M. Johnson sold 2,857 shares of Mellanox Technologies stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $57.60, for a total transaction of $164,563.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 242,628 shares of company stock valued at $12,270,667. 6.05% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MLNX. Capital Research Global Investors raised its holdings in Mellanox Technologies by 29.8% in the 2nd quarter. Capital Research Global Investors now owns 2,139,726 shares of the semiconductor producer’s stock worth $92,650,000 after acquiring an additional 490,726 shares during the period. Menora Mivtachim Holdings LTD. raised its holdings in Mellanox Technologies by 36.2% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 1,834,105 shares of the semiconductor producer’s stock worth $86,478,000 after acquiring an additional 487,000 shares during the period. Janus Henderson Group PLC bought a new position in Mellanox Technologies in the 2nd quarter worth $12,617,000. Senvest Management LLC raised its holdings in Mellanox Technologies by 27.5% in the 3rd quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock worth $51,257,000 after acquiring an additional 234,424 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in Mellanox Technologies by 15.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,185,765 shares of the semiconductor producer’s stock worth $55,909,000 after acquiring an additional 156,119 shares during the period. Hedge funds and other institutional investors own 60.81% of the company’s stock.
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Mellanox Technologies Company Profile
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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