Mellanox Technologies Sees Unusually High Options Volume (MLNX)

Mellanox Technologies, Ltd. (NASDAQ:MLNX) was the target of some unusual options trading on Wednesday. Stock traders purchased 1,580 put options on the company. This is an increase of 2,125% compared to the typical volume of 71 put options.

Mellanox Technologies (MLNX) opened at $64.70 on Friday. The stock has a market capitalization of $3,300.00, a PE ratio of -404.38, a PEG ratio of 2.51 and a beta of 0.62. Mellanox Technologies has a 12-month low of $40.70 and a 12-month high of $66.15. The company has a current ratio of 3.12, a quick ratio of 2.78 and a debt-to-equity ratio of 0.17.

Mellanox Technologies (NASDAQ:MLNX) last posted its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 positive return on equity of 4.76% and a negative net margin of 0.92%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 EPS. equities research analysts predict that Mellanox Technologies will post 0.84 earnings per share for the current fiscal year.

A number of analysts recently commented on MLNX shares. Jefferies Group reiterated a “sell” rating and issued a $38.00 price objective on shares of Mellanox Technologies in a research report on Sunday, September 10th. Zacks Investment Research lowered Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Barclays lowered Mellanox Technologies from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $50.00 to $48.00 in a research report on Monday, October 9th. KeyCorp reiterated a “hold” rating on shares of Mellanox Technologies in a research report on Tuesday, October 17th. Finally, JPMorgan Chase & Co. lowered Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Mellanox Technologies has a consensus rating of “Hold” and a consensus target price of $58.60.

In related news, CEO Eyal Waldman sold 2,500 shares of Mellanox Technologies stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $64.80, for a total value of $162,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Yakov (Jacob) Shulman sold 2,706 shares of Mellanox Technologies stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $46.32, for a total value of $125,341.92. The disclosure for this sale can be found here. Insiders sold 255,218 shares of company stock valued at $13,098,460 over the last ninety days. 6.05% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Mellanox Technologies during the 2nd quarter worth about $122,000. Legal & General Group Plc grew its position in shares of Mellanox Technologies by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after purchasing an additional 199 shares during the period. Juncture Wealth Strategies LLC acquired a new position in shares of Mellanox Technologies in the 3rd quarter valued at approximately $222,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Mellanox Technologies in the 2nd quarter valued at approximately $259,000. Finally, Sciencast Management LP acquired a new position in shares of Mellanox Technologies in the 2nd quarter valued at approximately $333,000. Institutional investors own 60.81% of the company’s stock.

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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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