Mellanox Technologies, Ltd. (NASDAQ:MLNX) – Investment analysts at KeyCorp lifted their Q1 2018 earnings estimates for shares of Mellanox Technologies in a research note issued to investors on Tuesday, according to Zacks Investment Research. KeyCorp analyst J. Vinh now anticipates that the semiconductor producer will earn $0.32 per share for the quarter, up from their prior forecast of $0.23. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Mellanox Technologies’ Q3 2018 earnings at $0.63 EPS and Q4 2018 earnings at $0.67 EPS.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, topping the Zacks’ 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 period in the prior year, the business posted $0.93 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis.
MLNX has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. 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 research note on Thursday, October 26th. DA Davidson increased their price objective on shares of Mellanox Technologies to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Susquehanna Bancshares initiated coverage on shares of Mellanox Technologies in a research note on Wednesday, December 13th. They set a “positive” rating and a $75.00 price objective for the company. Finally, Barclays upgraded shares of Mellanox Technologies from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $47.00 to $55.00 in a research note on Tuesday, November 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Mellanox Technologies presently has a consensus rating of “Hold” and an average target price of $59.20.
Mellanox Technologies (NASDAQ:MLNX) opened at $64.30 on Thursday. Mellanox Technologies has a one year low of $40.70 and a one year high of $66.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12. The company has a market cap of $3,297.64, a PE ratio of -401.88, a PEG ratio of 2.27 and a beta of 0.62.
Hedge funds have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. lifted its position in Mellanox Technologies by 404.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,765 shares of the semiconductor producer’s stock worth $114,000 after acquiring an additional 1,415 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Mellanox Technologies during the second quarter worth approximately $122,000. Legal & General Group Plc lifted its position in Mellanox Technologies by 4.6% during the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock worth $194,000 after acquiring an additional 199 shares during the last quarter. Juncture Wealth Strategies LLC acquired a new stake in Mellanox Technologies during the third quarter worth approximately $222,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Mellanox Technologies during the second quarter worth approximately $259,000. Hedge funds and other institutional investors own 60.81% of the company’s stock.
In other Mellanox Technologies news, Director Shai Cohen sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $47.15, for a total transaction of $2,357,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael Kagan sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was 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 260,718 shares of company stock valued at $13,455,300 over the last quarter. 6.05% of the stock is currently owned by company insiders.
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.
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.