Mellanox Technologies, Ltd. (NASDAQ:MLNX) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 449,489 shares, a decrease of 64.4% from the January 12th total of 1,263,414 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average trading volume of 967,214 shares, the days-to-cover ratio is presently 0.5 days.
In other news, VP Michael Kagan sold 2,500 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $67.50, for a total value of $168,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eyal Waldman sold 1,975 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $65.23, for a total transaction of $128,829.25. The disclosure for this sale can be found here. In the last three months, insiders bought 1,292 shares of company stock valued at $85,270 and sold 117,621 shares valued at $7,221,415. 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 business. Virtu Financial LLC acquired a new stake in Mellanox Technologies during the 4th quarter valued at approximately $257,000. UBS Asset Management Americas Inc. increased its position in Mellanox Technologies by 8.9% during the 4th quarter. UBS Asset Management Americas Inc. now owns 22,978 shares of the semiconductor producer’s stock valued at $1,487,000 after purchasing an additional 1,884 shares during the period. Swiss National Bank increased its position in Mellanox Technologies by 4.5% during the 4th quarter. Swiss National Bank now owns 77,121 shares of the semiconductor producer’s stock valued at $4,990,000 after purchasing an additional 3,300 shares during the period. Teacher Retirement System of Texas acquired a new stake in Mellanox Technologies during the 4th quarter valued at approximately $985,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in Mellanox Technologies during the 4th quarter valued at approximately $1,812,000. 60.74% of the stock is owned by institutional investors and hedge funds.
Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. The business had revenue of $237.60 million during the quarter, compared to the consensus estimate of $235.43 million. Mellanox Technologies had a negative net margin of 2.25% and a positive return on equity of 4.81%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. equities research analysts forecast that Mellanox Technologies will post 1.95 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on MLNX shares. KeyCorp reiterated a “hold” rating on shares of Mellanox Technologies in a report on Tuesday, October 17th. JPMorgan Chase & Co. lowered shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, October 26th. Stifel Nicolaus dropped their price objective on shares of Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Barclays set a $47.00 price objective on shares of Mellanox Technologies and gave the company a “sell” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Mellanox Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $67.45.
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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