Royal Bank of Canada decreased its position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,098 shares of the semiconductor producer’s stock after selling 420 shares during the quarter. Royal Bank of Canada’s holdings in Mellanox Technologies were worth $394,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of MLNX. Chicago Partners Investment Group LLC acquired a new stake in Mellanox Technologies in the second quarter valued at approximately $106,000. SG Americas Securities LLC acquired a new stake in shares of Mellanox Technologies during the second quarter worth approximately $122,000. Legal & General Group Plc grew its position in shares of 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 buying an additional 199 shares in the last quarter. Harbour Capital Advisors LLC grew its position in shares of Mellanox Technologies by 4,230.2% during the second quarter. Harbour Capital Advisors LLC now owns 9,743 shares of the semiconductor producer’s stock worth $225,000 after buying an additional 9,518 shares in the last quarter. Finally, Wellington Shields & Co. LLC acquired a new stake in shares of Mellanox Technologies during the second quarter worth approximately $264,000. 59.41% of the stock is owned by institutional investors.
In other Mellanox Technologies news, CEO Eyal Waldman sold 121,772 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $50.00, for a total value of $6,088,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael Kagan sold 5,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $45.01, for a total value of $225,050.00. The disclosure for this sale can be found here. Insiders have sold 197,478 shares of company stock worth $9,676,642 over the last 90 days. 6.05% of the stock is currently owned by company insiders.
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A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Mellanox Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Barclays PLC set a $47.00 price target on shares of Mellanox Technologies and gave the stock a “sell” rating in a research report on Thursday, October 26th. Stifel Nicolaus decreased their price target on shares of Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. J P Morgan Chase & Co downgraded shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Finally, KeyCorp reissued a “hold” rating on shares of Mellanox Technologies in a research report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Mellanox Technologies presently has a consensus rating of “Hold” and an average price target of $51.00.
Mellanox Technologies, Ltd. (MLNX) opened at $48.65 on Thursday. Mellanox Technologies, Ltd. has a one year low of $38.75 and a one year high of $52.79. The stock has a market capitalization of $2,485.33, a price-to-earnings ratio of 51.92, a P/E/G ratio of 3.37 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12.
Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.07. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The firm had revenue of $225.70 million for the quarter, compared to analysts’ expectations of $226.74 million. During the same period last year, the business posted $0.93 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. analysts predict that Mellanox Technologies, Ltd. will post 0.83 EPS for the current fiscal year.
Mellanox Technologies Company 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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