$235.25 Million in Sales Expected for Mellanox Technologies, Ltd. (MLNX) This Quarter

Wall Street analysts expect Mellanox Technologies, Ltd. (NASDAQ:MLNX) to report $235.25 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued 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 during the same quarter last year, which indicates a positive year-over-year growth rate of 6.1%. The firm is expected to issue its next earnings results on Thursday, January 18th.

According to Zacks, 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 anticipate that the company will report sales of $974.61 million per share, with estimates ranging from $955.75 million to $983.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Mellanox Technologies.

Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.07. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The firm had revenue of $225.70 million during the quarter, compared to analysts’ expectations of $226.74 million. During the same period in the prior year, the company posted $0.93 EPS. The company’s revenue was up .7% on a year-over-year basis.

Several research firms have recently weighed in on MLNX. DA Davidson increased their price objective on shares of Mellanox Technologies to $75.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Zacks Investment Research upgraded shares of Mellanox Technologies from a “hold” rating to a “strong-buy” rating and set a $74.00 price objective for the company in a research report on Wednesday, December 27th. Susquehanna Bancshares began coverage on shares of Mellanox Technologies in a research report on Wednesday, December 13th. They set a “positive” rating and a $75.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of Mellanox Technologies from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Finally, BidaskClub upgraded shares of Mellanox Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.20.

In related news, CFO Yakov (Jacob) Shulman sold 2,706 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $46.32, for a total transaction of $125,341.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Shai Cohen sold 50,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $47.15, for a total transaction of $2,357,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 260,718 shares of company stock worth $13,455,300. 6.05% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MLNX. SG Americas Securities LLC bought a new position in Mellanox Technologies during the second quarter worth $122,000. Legal & General Group Plc boosted its stake in Mellanox Technologies by 4.6% during the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock worth $194,000 after acquiring an additional 199 shares in the last quarter. Swiss National Bank boosted its stake in Mellanox Technologies by 2.2% during the second quarter. Swiss National Bank now owns 73,821 shares of the semiconductor producer’s stock worth $3,196,000 after acquiring an additional 1,600 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Mellanox Technologies by 4.6% during the second quarter. UBS Asset Management Americas Inc. now owns 21,011 shares of the semiconductor producer’s stock worth $910,000 after acquiring an additional 917 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Mellanox Technologies by 5.8% during the second quarter. Vanguard Group Inc. now owns 141,161 shares of the semiconductor producer’s stock worth $6,113,000 after acquiring an additional 7,733 shares in the last quarter. 60.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of Mellanox Technologies (NASDAQ MLNX) opened at $65.10 on Friday. Mellanox Technologies has a 12-month low of $40.70 and a 12-month high of $66.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12. The firm has a market cap of $3,320.00, a price-to-earnings ratio of -406.88, a PEG ratio of 2.27 and a beta of 0.62.

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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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