KeyCorp Equities Analysts Increase Earnings Estimates for Mellanox Technologies, Ltd. (MLNX)

Mellanox Technologies, Ltd. (NASDAQ:MLNX) – Equities researchers at KeyCorp raised their Q2 2018 EPS estimates for shares of Mellanox Technologies in a research note issued on Tuesday. KeyCorp analyst J. Vinh now forecasts that the semiconductor producer will post earnings per share of $0.45 for the quarter, up from their prior estimate of $0.31. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Mellanox Technologies’ FY2018 earnings at $2.06 EPS.

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

Other research analysts have also issued reports about the stock. Stifel Nicolaus lowered their target price on shares of Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. DA Davidson raised their target price on shares of Mellanox Technologies from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. BidaskClub upgraded shares of Mellanox Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. Longbow Research upgraded shares of Mellanox Technologies from a “neutral” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Barclays upgraded shares of Mellanox Technologies from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $47.00 to $55.00 in a research note on Tuesday, November 28th. 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 company. The company currently has an average rating of “Hold” and a consensus target price of $59.20.

Mellanox Technologies (MLNX) opened at $66.30 on Friday. Mellanox Technologies has a 12 month low of $40.70 and a 12 month high of $66.70. The company has a quick ratio of 2.78, a current ratio of 3.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $3,380.00, a price-to-earnings ratio of -414.38, a P/E/G ratio of 2.28 and a beta of 0.62.

A number of institutional investors have recently modified their holdings of the business. Capital Research Global Investors boosted its holdings in Mellanox Technologies by 29.8% in the 2nd quarter. Capital Research Global Investors now owns 2,139,726 shares of the semiconductor producer’s stock valued at $92,650,000 after purchasing an additional 490,726 shares during the period. Menora Mivtachim Holdings LTD. boosted its holdings in Mellanox Technologies by 36.2% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 1,834,105 shares of the semiconductor producer’s stock valued at $86,478,000 after purchasing an additional 487,000 shares during the period. Ion Asset Management Ltd. boosted its holdings in Mellanox Technologies by 9.1% in the 2nd quarter. Ion Asset Management Ltd. now owns 1,247,141 shares of the semiconductor producer’s stock valued at $54,001,000 after purchasing an additional 104,014 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its holdings in 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 purchasing an additional 156,119 shares during the period. Finally, Senvest Management LLC boosted its holdings in 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 purchasing an additional 234,424 shares during the period. 60.81% of the stock is owned by hedge funds and other institutional investors.

In other Mellanox Technologies news, VP Michael Kagan sold 2,500 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $47.50, for a total value of $118,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amal M. Johnson sold 2,857 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $57.60, for a total transaction of $164,563.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 260,718 shares of company stock valued at $13,455,300. Insiders own 6.05% of the company’s stock.

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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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