Heartland Advisors Inc. increased its position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 25.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 250,000 shares of the semiconductor producer’s stock after acquiring an additional 50,000 shares during the period. Heartland Advisors Inc. owned about 0.50% of Mellanox Technologies worth $11,788,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC purchased a new position in Mellanox Technologies in the 2nd quarter worth approximately $106,000. SG Americas Securities LLC purchased a new stake in Mellanox Technologies during the 2nd quarter valued at $122,000. Oppenheimer Asset Management Inc. purchased a new stake in Mellanox Technologies during the 1st quarter valued at $186,000. Legal & General Group Plc raised its stake in 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 buying an additional 199 shares during the last quarter. Finally, Juncture Wealth Strategies LLC purchased a new stake in Mellanox Technologies during the 3rd quarter valued at $222,000. Institutional investors own 60.92% of the company’s stock.
In related news, CFO Yakov (Jacob) Shulman sold 2,407 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.00, for a total transaction of $113,129.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Kagan sold 2,500 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $46.56, for a total transaction of $116,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,907 shares of company stock valued at $2,812,579. Corporate insiders own 6.05% of the company’s stock.
Shares of Mellanox Technologies, Ltd. (MLNX) traded up 0.82% during midday trading on Monday, hitting $46.83. 30,159 shares of the stock were exchanged. Mellanox Technologies, Ltd. has a 12 month low of $38.75 and a 12 month high of $52.79. The firm’s 50-day moving average is $46.08 and its 200-day moving average is $46.09. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 6690.00 and a beta of 0.69.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.07. The business had revenue of $225.70 million during the quarter, compared to analysts’ expectations of $226.74 million. Mellanox Technologies had a negative net margin of 0.92% and a positive return on equity of 4.82%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.93 earnings per share. Equities research analysts predict that Mellanox Technologies, Ltd. will post $2.12 earnings per share for the current year.
A number of brokerages have weighed in on MLNX. Piper Jaffray Companies reiterated a “hold” rating and set a $47.00 target price on shares of Mellanox Technologies in a research note on Friday, July 28th. BidaskClub lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co lowered shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday. TheStreet lowered shares of Mellanox Technologies from a “b-” rating to a “c” rating in a research note on Friday, August 11th. Finally, Barclays PLC reiterated a “buy” rating and set a $50.00 target price (down from $54.00) on shares of Mellanox Technologies in a research note on Thursday, July 27th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $51.00.
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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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