Wall Street analysts expect Mellanox Technologies, Ltd. (NASDAQ:MLNX) to report sales of $235.25 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Mellanox Technologies’ earnings. The highest sales estimate is $237.00 million and the lowest is $233.00 million. Mellanox Technologies posted sales of $221.68 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The firm is expected to announce its next earnings report on Wednesday, February 7th.
According to Zacks, analysts expect that Mellanox Technologies will report full year sales of $235.25 million for the current year, with estimates ranging from $859.30 million to $863.20 million. For the next financial year, analysts forecast that the business will report sales of $974.61 million per share, with estimates ranging from $955.75 million to $983.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Mellanox Technologies.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.76%. The company had revenue of $225.70 million during the quarter, compared to the consensus estimate of $226.74 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year.
MLNX has been the subject of several research analyst reports. Stifel Nicolaus reduced 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. Benchmark initiated coverage on shares of Mellanox Technologies in a report on Tuesday, August 29th. They issued a “buy” rating and a $60.00 price objective for the company. DA Davidson upped their price objective on shares of Mellanox Technologies from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Longbow Research raised shares of Mellanox Technologies from a “neutral” rating to a “buy” rating in a report on Friday, December 1st. Finally, BidaskClub raised shares of Mellanox Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Mellanox Technologies currently has an average rating of “Hold” and a consensus target price of $56.30.
In other Mellanox Technologies news, Director Amal M. Johnson sold 2,857 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $57.60, for a total value of $164,563.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Kagan sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $47.50, for a total transaction of $118,750.00. The disclosure for this sale can be found here. Insiders sold a total of 235,128 shares of company stock valued at $11,784,167 over the last three months. 6.05% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Mellanox Technologies in the 2nd quarter valued at about $122,000. Legal & General Group Plc lifted its holdings in 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 acquiring an additional 199 shares during the last quarter. Juncture Wealth Strategies LLC acquired a new stake in Mellanox Technologies in the 3rd quarter valued at about $222,000. Dynamic Technology Lab Private Ltd acquired a new stake in Mellanox Technologies in the 2nd quarter valued at about $259,000. Finally, Sciencast Management LP acquired a new stake in Mellanox Technologies in the 2nd quarter valued at about $333,000. 60.84% of the stock is owned by institutional investors.
Shares of Mellanox Technologies (NASDAQ MLNX) opened at $62.75 on Friday. The firm has a market cap of $3,195.79, a PE ratio of 66.76, a P/E/G ratio of 4.67 and a beta of 0.64. Mellanox Technologies has a 1-year low of $40.00 and a 1-year high of $63.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.12 and a quick ratio of 2.78.
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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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