Mellanox Technologies, Ltd. (MLNX) VP Michael Kagan Sells 2,500 Shares of Stock

Mellanox Technologies, Ltd. (NASDAQ:MLNX) VP Michael Kagan sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $47.50, for a total value of $118,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Michael Kagan also recently made the following trade(s):

  • On Friday, September 8th, Michael Kagan sold 2,500 shares of Mellanox Technologies stock. The stock was sold at an average price of $46.56, for a total value of $116,400.00.
  • On Monday, August 28th, Michael Kagan sold 5,000 shares of Mellanox Technologies stock. The stock was sold at an average price of $45.01, for a total value of $225,050.00.

Mellanox Technologies, Ltd. (NASDAQ MLNX) traded down $2.70 during midday trading on Friday, reaching $44.05. The company had a trading volume of 1,184,531 shares, compared to its average volume of 625,212. The company has a market cap of $2.22 billion, a P/E ratio of 46.86 and a beta of 0.54.

Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. Mellanox Technologies had a positive return on equity of 4.82% and a negative net margin of 0.92%. The company had revenue of $225.70 million during the quarter, compared to the consensus estimate of $226.74 million. During the same period last year, the company earned $0.93 EPS. Mellanox Technologies’s revenue for the quarter was up .7% on a year-over-year basis. analysts anticipate that Mellanox Technologies, Ltd. will post 0.83 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its holdings in Mellanox Technologies by 4.6% in the 2nd 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. UBS Asset Management Americas Inc. increased its holdings in Mellanox Technologies by 4.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 21,011 shares of the semiconductor producer’s stock worth $910,000 after buying an additional 917 shares in the last quarter. Swiss National Bank increased its holdings in Mellanox Technologies by 2.2% in the 2nd quarter. Swiss National Bank now owns 73,821 shares of the semiconductor producer’s stock worth $3,196,000 after buying an additional 1,600 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Mellanox Technologies in the 2nd quarter worth about $106,000. Finally, State Street Corp increased its holdings in Mellanox Technologies by 5.3% in the 2nd quarter. State Street Corp now owns 53,753 shares of the semiconductor producer’s stock worth $2,329,000 after buying an additional 2,725 shares in the last quarter. Institutional investors own 60.92% of the company’s stock.

A number of brokerages recently commented on MLNX. Barclays PLC set a $47.00 price target on Mellanox Technologies and gave the stock a “sell” rating in a research note on Thursday, October 26th. J P Morgan Chase & Co lowered Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Zacks Investment Research raised Mellanox Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday. BidaskClub lowered Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, TheStreet lowered Mellanox Technologies from a “b-” rating to a “c” rating in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $51.00.

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.

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