Jefferies Group LLC grew its position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 15.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,600 shares of the semiconductor producer’s stock after buying an additional 11,048 shares during the period. Jefferies Group LLC owned 0.15% of Mellanox Technologies worth $6,067,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Fortis Advisors LLC bought a new stake in shares of Mellanox Technologies in the 2nd quarter valued at about $122,000. USA Financial Portformulas Corp bought a new stake in shares of Mellanox Technologies in the 3rd quarter valued at about $253,000. Pitcairn Co. bought a new stake in shares of Mellanox Technologies in the 3rd quarter valued at about $253,000. Juncture Wealth Strategies LLC bought a new stake in shares of Mellanox Technologies in the 3rd quarter valued at about $256,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Mellanox Technologies in the 2nd quarter valued at about $257,000. Institutional investors and hedge funds own 74.03% of the company’s stock.
A number of analysts have recently weighed in on MLNX shares. BidaskClub cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Friday, August 17th. ValuEngine cut shares of Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 4th. Zacks Investment Research cut shares of Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 19th. Jefferies Financial Group started coverage on shares of Mellanox Technologies in a report on Tuesday, October 2nd. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Bank of America started coverage on shares of Mellanox Technologies in a report on Wednesday, October 10th. They issued a “buy” rating and a $105.00 price target on the stock. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $102.15.
MLNX stock opened at $92.03 on Friday. The company has a market capitalization of $5.05 billion, a P/E ratio of 29.76, a P/E/G ratio of 1.40 and a beta of 0.31. Mellanox Technologies, Ltd. has a 52 week low of $58.40 and a 52 week high of $99.14.
Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Wednesday, October 24th. The semiconductor producer reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.13. The company had revenue of $279.20 million during the quarter, compared to analysts’ expectations of $275.49 million. Mellanox Technologies had a net margin of 8.57% and a return on equity of 14.72%. Mellanox Technologies’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. Analysts anticipate that Mellanox Technologies, Ltd. will post 3.56 earnings per share for the current fiscal year.
In related news, Director Glenda Dorchak sold 5,000 shares of Mellanox Technologies stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $85.01, for a total value of $425,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amal M. Johnson sold 5,714 shares of Mellanox Technologies stock in a transaction that occurred 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. 4.20% of the stock is owned by company insiders.
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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.
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