Quantitative Systematic Strategies LLC acquired a new position in shares of Mellanox Technologies Ltd. (NASDAQ:MLNX) during the second quarter, Holdings Channel reports. The institutional investor acquired 5,647 shares of the company’s stock, valued at approximately $265,000.
Other large investors also recently modified their holdings of the company. Seven Eight Capital LLC bought a new stake in shares of Mellanox Technologies during the first quarter worth $114,000. ClariVest Asset Management LLC bought a new stake in shares of Mellanox Technologies during the second quarter worth $148,000. Boothbay Fund Management LLC bought a new stake in shares of Mellanox Technologies during the first quarter worth $376,000. Bayesian Capital Management LP acquired a new stake in shares of Mellanox Technologies during the first quarter valued at $383,000. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Mellanox Technologies during the first quarter valued at $1,531,000. 66.18% of the stock is currently owned by institutional investors.
Mellanox Technologies Ltd. (NASDAQ:MLNX) traded up 1.28% during mid-day trading on Friday, hitting $41.83. The stock had a trading volume of 614,208 shares. The firm has a market cap of $2.01 billion, a P/E ratio of 33.15 and a beta of 0.57. The stock has a 50-day moving average price of $42.41 and a 200 day moving average price of $45.84. Mellanox Technologies Ltd. has a 12-month low of $37.54 and a 12-month high of $55.80.
Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Wednesday, July 20th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The firm earned $214.80 million during the quarter, compared to analysts’ expectations of $212.79 million. Mellanox Technologies had a return on equity of 10.76% and a net margin of 7.98%. The business’s revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. Equities analysts anticipate that Mellanox Technologies Ltd. will post $3.56 EPS for the current fiscal year.
MLNX has been the subject of several recent analyst reports. Jefferies Group reissued a “hold” rating and issued a $50.00 price target on shares of Mellanox Technologies in a report on Saturday, June 25th. TheStreet raised Mellanox Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, July 20th. Summit Research reissued a “buy” rating and issued a $65.00 price target on shares of Mellanox Technologies in a report on Wednesday, June 22nd. Credit Suisse Group AG reissued a “buy” rating and issued a $60.00 price target on shares of Mellanox Technologies in a report on Thursday, July 21st. Finally, Brean Capital reissued a “buy” rating and issued a $60.00 price target (up previously from $55.00) on shares of Mellanox Technologies in a report on Sunday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Mellanox Technologies currently has an average rating of “Buy” and an average price target of $63.08.
In related news, CFO Yakov (Jacob) Shulman sold 2,781 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $44.49, for a total value of $123,726.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amal M. Johnson sold 3,571 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $46.07, for a total value of $164,515.97. The disclosure for this sale can be found here. 6.32% of the stock is owned by corporate insiders.
Mellanox Technologies Company Profile
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company designs, manufactures and sells interconnect products and solutions primarily based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment.
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