Brokerages expect that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will report $285.34 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Mellanox Technologies’ earnings, with estimates ranging from $285.00 million to $286.20 million. Mellanox Technologies reported sales of $237.58 million in the same quarter last year, which indicates a positive year-over-year growth rate of 20.1%. The firm is expected to report its next quarterly earnings report on Thursday, January 17th.
On average, analysts expect that Mellanox Technologies will report full-year sales of $1.08 billion for the current fiscal year. For the next year, analysts anticipate that the business will post sales of $1.23 billion, with estimates ranging from $1.20 billion to $1.29 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Mellanox Technologies.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Wednesday, October 24th. The semiconductor producer reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.13. The business had revenue of $279.20 million for the quarter, compared to the consensus estimate of $275.49 million. Mellanox Technologies had a net margin of 8.57% and a return on equity of 14.72%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 earnings per share.
Several equities research analysts have recently issued reports on MLNX shares. BidaskClub cut shares of Mellanox Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 11th. Jefferies Financial Group lifted their price objective on shares of Mellanox Technologies from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 3rd. Bank of America started coverage on shares of Mellanox Technologies in a research report on Wednesday, October 10th. They set a “buy” rating and a $105.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Mellanox Technologies from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $98.00 to $100.00 in a research report on Thursday, October 25th. Finally, ValuEngine cut shares of Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Mellanox Technologies has a consensus rating of “Buy” and an average price target of $102.15.
Mellanox Technologies stock opened at $92.03 on Friday. The company has a market cap of $5.06 billion, a PE ratio of 101.13, a P/E/G ratio of 1.40 and a beta of 0.31. Mellanox Technologies has a 1 year low of $58.40 and a 1 year high of $99.14.
In related news, Director Glenda Dorchak sold 5,000 shares of the business’s stock in a transaction on Friday, October 26th. The shares were sold at an average price of $85.01, for a total value of $425,050.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amal M. Johnson sold 5,714 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $90.00, for a total transaction of $514,260.00. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in MLNX. Fortis Advisors LLC bought a new stake in Mellanox Technologies in the second quarter worth $122,000. USA Financial Portformulas Corp bought a new stake in Mellanox Technologies in the third quarter worth $253,000. Pitcairn Co. purchased a new position in Mellanox Technologies during the third quarter worth $253,000. Juncture Wealth Strategies LLC purchased a new position in Mellanox Technologies during the third quarter worth $256,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in Mellanox Technologies during the second quarter worth $257,000. Institutional investors own 74.03% of the company’s stock.
About Mellanox Technologies
Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, and sells interconnect products and solutions worldwide. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment, and other embedded systems. The company offers InfiniBand solutions, including switch and gateway integrated circuits (ICs), adapter cards, cables, modules, and software, as well as switch, gateway, and long-haul systems; Ethernet solutions, such as Ethernet switch products and Ethernet adapters for use in enterprise data center, high-performance computing, embedded environments, hyperscale, Web 2.0, and cloud data centers.
See Also: Tariff
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Mellanox Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mellanox Technologies and related companies with MarketBeat.com's FREE daily email newsletter.