Icon Advisers Inc. Co. bought a new stake in Mellanox Technologies, Ltd. (NASDAQ:MLNX) during the 3rd quarter, Holdings Channel reports. The firm bought 9,400 shares of the semiconductor producer’s stock, valued at approximately $690,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Fortis Advisors LLC acquired a new position in Mellanox Technologies in the second quarter valued at $122,000. USA Financial Portformulas Corp acquired a new position in Mellanox Technologies in the third quarter valued at $253,000. Pitcairn Co. acquired a new position in Mellanox Technologies in the third quarter valued at $253,000. Juncture Wealth Strategies LLC acquired a new position in Mellanox Technologies in the third quarter valued at $256,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in Mellanox Technologies in the second quarter valued at $257,000. Institutional investors and hedge funds own 75.33% of the company’s stock.
Shares of NASDAQ MLNX opened at $93.37 on Friday. Mellanox Technologies, Ltd. has a 1-year low of $47.90 and a 1-year high of $99.14. The stock has a market cap of $4.96 billion, a PE ratio of 29.26, a P/E/G ratio of 1.37 and a beta of 0.31.
Mellanox Technologies (NASDAQ:MLNX) last posted its earnings results on Wednesday, October 24th. The semiconductor producer reported $1.33 EPS for the quarter, topping the consensus estimate of $1.20 by $0.13. The company had revenue of $279.20 million during the quarter, compared to the consensus estimate of $275.49 million. Mellanox Technologies had a net margin of 8.57% and a return on equity of 14.72%. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. Sell-side analysts forecast that Mellanox Technologies, Ltd. will post 3.56 EPS for the current fiscal year.
Several equities analysts have recently weighed in on MLNX shares. BidaskClub upgraded shares of Mellanox Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Rosenblatt Securities reiterated a “hold” rating on shares of Mellanox Technologies in a report on Wednesday, July 18th. Piper Jaffray Companies reiterated a “buy” rating and set a $110.00 price objective on shares of Mellanox Technologies in a report on Wednesday, July 18th. Benchmark upped their price objective on shares of Mellanox Technologies from $110.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 18th. Finally, Barclays upped their price objective on shares of Mellanox Technologies from $103.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, July 18th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $100.62.
In other news, Director Amal M. Johnson sold 5,714 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $90.00, for a total transaction of $514,260.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Kagan sold 3,000 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $83.00, for a total transaction of $249,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,053 shares of company stock valued at $1,977,069. 4.20% of the stock is currently owned by insiders.
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.
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