Edmond DE Rothschild Holding S.A. lessened its position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 18.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,300 shares of the semiconductor producer’s stock after selling 10,590 shares during the period. Edmond DE Rothschild Holding S.A. owned 0.10% of Mellanox Technologies worth $2,091,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in MLNX. Alliancebernstein L.P. bought a new stake in Mellanox Technologies in the 1st quarter worth $52,836,000. Snow Capital Management LP bought a new stake in Mellanox Technologies in the 1st quarter worth $33,813,000. FMR LLC grew its holdings in Mellanox Technologies by 24.7% in the 1st quarter. FMR LLC now owns 3,298,585 shares of the semiconductor producer’s stock worth $168,064,000 after acquiring an additional 654,046 shares during the last quarter. FIL Ltd grew its holdings in Mellanox Technologies by 78.5% in the 1st quarter. FIL Ltd now owns 1,390,315 shares of the semiconductor producer’s stock worth $70,836,000 after acquiring an additional 611,541 shares during the last quarter. Finally, OppenheimerFunds Inc. bought a new stake in Mellanox Technologies in the 1st quarter worth $28,738,000. 61.58% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on MLNX. Jefferies Group LLC reaffirmed an “underperform” rating and set a $38.00 target price on shares of Mellanox Technologies in a research note on Tuesday, June 20th. BidaskClub lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Zacks Investment Research raised shares of Mellanox Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Barclays PLC reaffirmed a “buy” rating and set a $50.00 target price (down previously from $54.00) on shares of Mellanox Technologies in a research note on Thursday, July 27th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $47.00 target price on shares of Mellanox Technologies in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $51.13.
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In other news, CFO Yakov (Jacob) Shulman sold 2,407 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.00, for a total value of $113,129.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shai Cohen sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total transaction of $2,358,000.00. The disclosure for this sale can be found here. Insiders sold a total of 72,453 shares of company stock worth $3,402,241 over the last 90 days. Company insiders own 6.05% of the company’s stock.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) opened at 46.85 on Friday. The company’s 50-day moving average is $45.51 and its 200-day moving average is $47.03. Mellanox Technologies, Ltd. has a 12 month low of $38.75 and a 12 month high of $52.80. The stock has a market capitalization of $2.36 billion, a PE ratio of 6692.86 and a beta of 0.65.
Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). Mellanox Technologies had a return on equity of 5.93% and a net margin of 0.09%. The business had revenue of $212.00 million for the quarter, compared to the consensus estimate of $209.62 million. During the same quarter in the previous year, the company earned $0.87 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. Equities research analysts forecast that Mellanox Technologies, Ltd. will post $2.14 EPS for the current year.
Mellanox Technologies Profile
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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