Analysts Anticipate Mellanox Technologies (MLNX) to Announce $1.08 Earnings Per Share

Analysts forecast that Mellanox Technologies (NASDAQ:MLNX) will report earnings of $1.08 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Mellanox Technologies’ earnings, with estimates ranging from $0.95 to $1.13. Mellanox Technologies posted earnings of $0.44 per share in the same quarter last year, which would suggest a positive year over year growth rate of 145.5%. The business is scheduled to issue its next earnings report on Wednesday, July 25th.

On average, analysts expect that Mellanox Technologies will report full-year earnings of $4.34 per share for the current financial year, with EPS estimates ranging from $4.00 to $4.48. For the next fiscal year, analysts forecast that the business will report earnings of $4.91 per share, with EPS estimates ranging from $4.64 to $5.12. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow Mellanox Technologies.

Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Tuesday, April 17th. The semiconductor producer reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.13. Mellanox Technologies had a net margin of 3.31% and a return on equity of 8.00%. The firm had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $244.93 million. During the same quarter in the prior year, the company earned $0.29 EPS. The company’s revenue was up 33.0% compared to the same quarter last year.

A number of equities research analysts recently commented on the stock. TheStreet raised shares of Mellanox Technologies from a “c+” rating to an “a” rating in a research report on Tuesday, April 17th. Benchmark increased their target price on shares of Mellanox Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 17th. Barclays raised shares of Mellanox Technologies from an “equal weight” rating to an “overweight” rating and set a $90.00 target price for the company in a research report on Thursday, April 12th. Piper Jaffray Companies raised shares of Mellanox Technologies from a “neutral” rating to an “overweight” rating and set a $100.00 target price for the company in a research report on Friday. Finally, Loop Capital increased their target price on shares of Mellanox Technologies to $100.00 and gave the company a “positive” rating in a research report on Friday, April 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. Mellanox Technologies currently has an average rating of “Buy” and a consensus price target of $85.45.

NASDAQ:MLNX traded up $0.05 during midday trading on Thursday, reaching $85.60. 15,170 shares of the stock traded hands, compared to its average volume of 514,107. Mellanox Technologies has a 12-month low of $41.88 and a 12-month high of $88.85. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 94.42, a PEG ratio of 1.96 and a beta of 0.55.

In other Mellanox Technologies news, VP Marc Sultzbaugh sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, May 3rd. The shares were sold at an average price of $79.75, for a total transaction of $143,550.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael Kagan sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $69.00, for a total transaction of $172,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,456 shares of company stock worth $995,800 in the last 90 days. 4.30% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Mellanox Technologies by 51.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,852,023 shares of the semiconductor producer’s stock valued at $134,920,000 after purchasing an additional 631,345 shares in the last quarter. NWQ Investment Management Company LLC lifted its stake in shares of Mellanox Technologies by 25.0% in the fourth quarter. NWQ Investment Management Company LLC now owns 1,661,267 shares of the semiconductor producer’s stock worth $107,484,000 after buying an additional 332,528 shares in the last quarter. Senvest Management LLC lifted its stake in shares of Mellanox Technologies by 131.4% in the first quarter. Senvest Management LLC now owns 1,561,745 shares of the semiconductor producer’s stock worth $113,773,000 after buying an additional 886,745 shares in the last quarter. FIL Ltd lifted its stake in shares of Mellanox Technologies by 14.4% in the first quarter. FIL Ltd now owns 1,315,889 shares of the semiconductor producer’s stock worth $95,863,000 after buying an additional 166,066 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in shares of Mellanox Technologies by 12.5% in the fourth quarter. OppenheimerFunds Inc. now owns 1,130,477 shares of the semiconductor producer’s stock worth $73,142,000 after buying an additional 125,327 shares in the last quarter. Hedge funds and other institutional investors own 74.27% of the company’s stock.

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.

Get a free copy of the Zacks research report on Mellanox Technologies (MLNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Mellanox Technologies (NASDAQ:MLNX)

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.



Leave a Reply