Mellanox Technologies (NASDAQ:MLNX) Shares Down 0.7%

Shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) traded down 0.7% on Friday . The stock traded as low as $109.67 and last traded at $110.05. 9,364 shares were traded during trading, a decline of 99% from the average session volume of 807,998 shares. The stock had previously closed at $110.79.

Several analysts have recently weighed in on the company. BidaskClub downgraded Mellanox Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Rosenblatt Securities reiterated a “neutral” rating on shares of Mellanox Technologies in a report on Wednesday, April 17th. Piper Jaffray Companies lowered shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a report on Monday, March 11th. Stifel Nicolaus lowered shares of Mellanox Technologies from a “buy” rating to a “hold” rating and set a $117.95 price objective for the company. in a report on Thursday, March 14th. Finally, Zacks Investment Research downgraded shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Mellanox Technologies presently has a consensus rating of “Hold” and an average price target of $115.00.

The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.99 and a current ratio of 3.38. The firm has a market cap of $6.07 billion, a P/E ratio of 28.59, a PEG ratio of 1.18 and a beta of 0.41.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Tuesday, April 16th. The semiconductor producer reported $1.15 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.30). The business had revenue of $305.20 million during the quarter, compared to the consensus estimate of $300.40 million. Mellanox Technologies had a net margin of 12.69% and a return on equity of 17.69%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. Equities analysts forecast that Mellanox Technologies, Ltd. will post 4.9 earnings per share for the current year.

In related news, Director Steve Sanghi purchased 20,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were acquired at an average price of $110.54 per share, for a total transaction of $2,210,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Glenda Dorchak sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $118.30, for a total transaction of $473,200.00. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of MLNX. JPMorgan Chase & Co. increased its position in shares of Mellanox Technologies by 37.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,762 shares of the semiconductor producer’s stock valued at $4,683,000 after acquiring an additional 17,244 shares during the period. SG Americas Securities LLC acquired a new position in shares of Mellanox Technologies in the 4th quarter valued at $238,000. Janney Montgomery Scott LLC increased its position in shares of Mellanox Technologies by 10.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,853 shares of the semiconductor producer’s stock valued at $1,003,000 after acquiring an additional 990 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Mellanox Technologies by 242.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 242,010 shares of the semiconductor producer’s stock valued at $22,355,000 after acquiring an additional 171,410 shares during the period. Finally, Intrust Bank NA acquired a new position in shares of Mellanox Technologies in the 4th quarter valued at $369,000. Institutional investors and hedge funds own 75.20% of the company’s stock.

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About Mellanox Technologies (NASDAQ:MLNX)

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, markets, and sells interconnect products and solutions. 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; and 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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