Alpine Group USVI LLC bought a new position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 125,000 shares of the semiconductor producer’s stock, valued at approximately $13,699,000. Mellanox Technologies comprises approximately 3.5% of Alpine Group USVI LLC’s portfolio, making the stock its 8th largest position. Alpine Group USVI LLC owned about 0.23% of Mellanox Technologies at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of MLNX. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Mellanox Technologies by 63.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 926 shares of the semiconductor producer’s stock valued at $110,000 after buying an additional 359 shares during the last quarter. Swiss National Bank raised its holdings in shares of Mellanox Technologies by 12.2% during the first quarter. Swiss National Bank now owns 89,321 shares of the semiconductor producer’s stock valued at $10,572,000 after buying an additional 9,700 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $3,551,000. Elo Mutual Pension Insurance Co bought a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $6,036,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Mellanox Technologies by 1.8% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,922,386 shares of the semiconductor producer’s stock valued at $227,534,000 after buying an additional 33,874 shares during the last quarter. 75.96% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Marc Sultzbaugh sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $109.25, for a total transaction of $819,375.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.20% of the stock is owned by company insiders.
Shares of NASDAQ MLNX traded up $1.18 during mid-day trading on Friday, reaching $110.47. 39,609 shares of the company traded hands, compared to its average volume of 404,401. Mellanox Technologies, Ltd. has a fifty-two week low of $65.68 and a fifty-two week high of $121.13. The firm has a market cap of $5.97 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 0.91 and a beta of 0.48. The stock has a fifty day simple moving average of $109.64 and a 200-day simple moving average of $112.78.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings data on Wednesday, July 24th. The semiconductor producer reported $1.04 EPS for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.10). Mellanox Technologies had a net margin of 14.09% and a return on equity of 16.86%. The company had revenue of $310.30 million for the quarter, compared to analyst estimates of $307.24 million. During the same quarter in the prior year, the business earned $1.25 EPS. Mellanox Technologies’s revenue was up 15.6% compared to the same quarter last year. As a group, sell-side analysts predict that Mellanox Technologies, Ltd. will post 5.51 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on MLNX shares. ValuEngine cut Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Zacks Investment Research raised Mellanox Technologies from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Tuesday, July 16th. Finally, BidaskClub raised Mellanox Technologies from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $120.16.
About Mellanox Technologies
Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, markets, and sells interconnect products and solutions. 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; and 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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