Q1 2018 EPS Estimates for Mellanox Technologies, Ltd. Increased by Analyst (MLNX)

Mellanox Technologies, Ltd. (NASDAQ:MLNX) – Equities research analysts at KeyCorp increased their Q1 2018 earnings per share estimates for shares of Mellanox Technologies in a report released on Tuesday. KeyCorp analyst J. Vinh now anticipates that the semiconductor producer will earn $0.32 per share for the quarter, up from their prior estimate of $0.23. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Mellanox Technologies’ Q3 2018 earnings at $0.63 EPS and Q4 2018 earnings at $0.67 EPS.

Mellanox Technologies (NASDAQ:MLNX) last released its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.07. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The company had revenue of $225.70 million for the quarter, compared to analysts’ expectations of $226.74 million. During the same quarter in the previous year, the business posted $0.93 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis.

Several other equities analysts have also recently weighed in on the company. DA Davidson lifted their target price on Mellanox Technologies to $75.00 and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised Mellanox Technologies from a “hold” rating to a “strong-buy” rating and set a $74.00 target price on the stock in a research note on Wednesday, December 27th. Susquehanna Bancshares began coverage on Mellanox Technologies in a research note on Wednesday, December 13th. They set a “positive” rating and a $75.00 target price on the stock. Stifel Nicolaus lifted their target price on Mellanox Technologies from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Finally, BidaskClub raised Mellanox Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $59.20.

Mellanox Technologies (NASDAQ MLNX) opened at $66.30 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12. Mellanox Technologies has a 12 month low of $40.70 and a 12 month high of $66.70. The firm has a market capitalization of $3,307.83, a PE ratio of 69.10, a price-to-earnings-growth ratio of 2.28 and a beta of 0.62.

In related news, Director Amal M. Johnson sold 2,857 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $57.60, for a total value of $164,563.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shai Cohen sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $47.15, for a total value of $2,357,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 260,718 shares of company stock valued at $13,455,300. 6.05% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HL Financial Services LLC grew its stake in shares of Mellanox Technologies by 28.5% in the 3rd quarter. HL Financial Services LLC now owns 13,833 shares of the semiconductor producer’s stock valued at $652,000 after buying an additional 3,067 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Mellanox Technologies in the 3rd quarter valued at approximately $519,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Mellanox Technologies by 15.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,185,765 shares of the semiconductor producer’s stock valued at $55,909,000 after buying an additional 156,119 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Mellanox Technologies by 240.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 89,615 shares of the semiconductor producer’s stock valued at $4,225,000 after buying an additional 63,300 shares in the last quarter. Finally, Senvest Management LLC grew its stake in shares of Mellanox Technologies by 27.5% in the 3rd quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock valued at $51,257,000 after buying an additional 234,424 shares in the last quarter. 60.81% of the stock is owned by institutional investors and hedge funds.

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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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