Mellanox Technologies, Ltd. (MLNX) Position Cut by Stifel Financial Corp

Stifel Financial Corp trimmed its position in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 26.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,235 shares of the semiconductor producer’s stock after selling 21,477 shares during the period. Stifel Financial Corp owned approximately 0.12% of Mellanox Technologies worth $2,515,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC bought a new stake in shares of Mellanox Technologies in the 2nd quarter valued at approximately $106,000. SG Americas Securities LLC bought a new stake in shares of Mellanox Technologies in the 2nd quarter valued at approximately $122,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Mellanox Technologies in the 1st quarter valued at approximately $186,000. Legal & General Group Plc grew its stake in shares of Mellanox Technologies by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after purchasing an additional 199 shares during the period. Finally, Harbour Capital Advisors LLC grew its stake in shares of Mellanox Technologies by 4,230.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 9,743 shares of the semiconductor producer’s stock valued at $225,000 after purchasing an additional 9,518 shares during the period. Institutional investors own 61.58% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/23/stifel-financial-corp-sells-21477-shares-of-mellanox-technologies-ltd-mlnx.html.

Mellanox Technologies, Ltd. (MLNX) opened at 43.65 on Monday. The firm has a market capitalization of $2.20 billion, a P/E ratio of 6235.71 and a beta of 0.69. The stock has a 50 day moving average price of $46.21 and a 200 day moving average price of $46.29. Mellanox Technologies, Ltd. has a one year low of $38.75 and a one year high of $52.79.

Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $212.00 million during the quarter, compared to the consensus estimate of $209.62 million. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.93%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.87 earnings per share. On average, equities analysts predict that Mellanox Technologies, Ltd. will post $2.14 EPS for the current fiscal year.

In other Mellanox Technologies news, Director Shai Cohen sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total value of $2,358,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael Kagan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $45.01, for a total transaction of $225,050.00. The disclosure for this sale can be found here. Insiders sold 72,453 shares of company stock worth $3,402,241 in the last 90 days. Company insiders own 6.05% of the company’s stock.

Several equities research analysts have recently weighed in on MLNX shares. Barclays PLC lowered Mellanox Technologies from an “overweight” rating to an “underweight” rating and lowered their price objective for the company from $50.00 to $48.00 in a research note on Monday, October 9th. KeyCorp reiterated a “hold” rating on shares of Mellanox Technologies in a research note on Tuesday, October 17th. Zacks Investment Research upgraded Mellanox Technologies from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Thursday, July 27th. BidaskClub upgraded Mellanox Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Credit Suisse Group set a $45.00 price objective on Mellanox Technologies and gave the company a “hold” rating in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the compan

Other hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC bought a new stake in shares of Mellanox Technologies in the 2nd quarter valued at approximately $106,000. SG Americas Securities LLC bought a new stake in shares of Mellanox Technologies in the 2nd quarter valued at approximately $122,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Mellanox Technologies in the 1st quarter valued at approximately $186,000. Legal & General Group Plc grew its stake in shares of Mellanox Technologies by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after purchasing an additional 199 shares during the period. Finally, Harbour Capital Advisors LLC grew its stake in shares of Mellanox Technologies by 4,230.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 9,743 shares of the semiconductor producer’s stock valued at $225,000 after purchasing an additional 9,518 shares during the period. Institutional investors own 61.58% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/23/stifel-financial-corp-sells-21477-shares-of-mellanox-technologies-ltd-mlnx.html.

Mellanox Technologies, Ltd. (MLNX) opened at 43.65 on Monday. The firm has a market capitalization of $2.20 billion, a P/E ratio of 6235.71 and a beta of 0.69. The stock has a 50 day moving average price of $46.21 and a 200 day moving average price of $46.29. Mellanox Technologies, Ltd. has a one year low of $38.75 and a one year high of $52.79.

Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $212.00 million during the quarter, compared to the consensus estimate of $209.62 million. Mellanox Technologies had a net margin of 0.09% and a return on equity of 5.93%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.87 earnings per share. On average, equities analysts predict that Mellanox Technologies, Ltd. will post $2.14 EPS for the current fiscal year.

In other Mellanox Technologies news, Director Shai Cohen sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total value of $2,358,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael Kagan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $45.01, for a total transaction of $225,050.00. The disclosure for this sale can be found here. Insiders sold 72,453 shares of company stock worth $3,402,241 in the last 90 days. Company insiders own 6.05% of the company’s stock.

Several equities research analysts have recently weighed in on MLNX shares. Barclays PLC lowered Mellanox Technologies from an “overweight” rating to an “underweight” rating and lowered their price objective for the company from $50.00 to $48.00 in a research note on Monday, October 9th. KeyCorp reiterated a “hold” rating on shares of Mellanox Technologies in a research note on Tuesday, October 17th. Zacks Investment Research upgraded Mellanox Technologies from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Thursday, July 27th. BidaskClub upgraded Mellanox Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Credit Suisse Group set a $45.00 price objective on Mellanox Technologies and gave the company a “hold” rating in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $50.88.

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.

Institutional Ownership by Quarter for Mellanox Technologies (NASDAQ:MLNX)

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