Senvest Management LLC Boosts Stake in Mellanox Technologies, Ltd. (MLNX)

Senvest Management LLC grew its holdings in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 9.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 852,671 shares of the semiconductor producer’s stock after purchasing an additional 73,235 shares during the period. Mellanox Technologies makes up 2.9% of Senvest Management LLC’s portfolio, making the stock its 11th biggest holding. Senvest Management LLC owned 1.70% of Mellanox Technologies worth $36,921,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Chicago Partners Investment Group LLC bought a new position in shares of Mellanox Technologies during the 2nd quarter valued at about $106,000. SG Americas Securities LLC bought a new position in shares of Mellanox Technologies during the 2nd quarter valued at about $122,000. Oppenheimer Asset Management Inc. bought a new position in shares of Mellanox Technologies during the 1st quarter valued at about $186,000. Legal & General Group Plc boosted its position in shares of Mellanox Technologies by 4.6% during 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 in the last quarter. Finally, Wexford Capital LP bought a new position in shares of Mellanox Technologies during the 1st quarter valued at about $204,000. Institutional investors own 61.58% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Jefferies Group LLC restated an “underperform” rating and set a $38.00 price objective on shares of Mellanox Technologies in a research report on Tuesday, June 20th. BidaskClub lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Piper Jaffray Companies restated a “hold” rating and set a $47.00 price objective on shares of Mellanox Technologies in a research report on Friday, July 28th. TheStreet lowered shares of Mellanox Technologies from a “b-” rating to a “c” rating in a research report on Friday, August 11th. Finally, Barclays PLC restated a “buy” rating and set a $50.00 price objective (down previously from $54.00) on shares of Mellanox Technologies in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $51.13.

In other news, VP Michael Kagan sold 5,000 shares of Mellanox Technologies stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $45.01, for a total transaction of $225,050.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Shai Cohen sold 50,000 shares of Mellanox Technologies stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.16, for a total value of $2,358,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 72,453 shares of company stock valued at $3,402,241 over the last 90 days. Corporate insiders own 6.05% of the company’s stock.

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Mellanox Technologies (NASDAQ:MLNX) last posted 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). The company had revenue of $212.00 million for the quarter, compared to analyst estimates of $209.62 million. Mellanox Technologies had a return on equity of 5.93% and a net margin of 0.09%. Mellanox Technologies’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 earnings per share.

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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