Senvest Management LLC Buys 279,057 Shares of Mellanox Technologies, Ltd. (MLNX)

Senvest Management LLC raised its stake in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 16.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,986,776 shares of the semiconductor producer’s stock after purchasing an additional 279,057 shares during the quarter. Mellanox Technologies accounts for about 11.1% of Senvest Management LLC’s holdings, making the stock its 2nd biggest holding. Senvest Management LLC owned approximately 3.71% of Mellanox Technologies worth $145,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Fortis Advisors LLC purchased a new position in shares of Mellanox Technologies during the second quarter worth approximately $122,000. USA Financial Portformulas Corp purchased a new position in shares of Mellanox Technologies during the third quarter worth approximately $253,000. Pitcairn Co. purchased a new position in shares of Mellanox Technologies during the third quarter worth approximately $253,000. Juncture Wealth Strategies LLC purchased a new position in shares of Mellanox Technologies during the third quarter worth approximately $256,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Mellanox Technologies during the second quarter worth approximately $257,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

In other news, VP Marc Sultzbaugh sold 10,000 shares of the business’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $76.13, for a total transaction of $761,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Amal M. Johnson sold 5,714 shares of the business’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $90.00, for a total transaction of $514,260.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,714 shares of company stock worth $1,700,610. 4.20% of the stock is currently owned by company insiders.

MLNX has been the topic of several research reports. BidaskClub raised shares of Mellanox Technologies from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 30th. ValuEngine downgraded shares of Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. Zacks Investment Research raised shares of Mellanox Technologies from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Tuesday, October 9th. Bank of America assumed coverage on shares of Mellanox Technologies in a research note on Wednesday, October 10th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, JPMorgan Chase & Co. raised shares of Mellanox Technologies from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $98.00 to $100.00 in a research note on Thursday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $102.15.

NASDAQ:MLNX traded down $1.03 during trading hours on Tuesday, hitting $96.45. The company had a trading volume of 5,296 shares, compared to its average volume of 883,884. The stock has a market cap of $4.97 billion, a P/E ratio of 105.66, a price-to-earnings-growth ratio of 1.37 and a beta of 0.30. Mellanox Technologies, Ltd. has a 52 week low of $57.25 and a 52 week high of $99.14.

Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings results on Wednesday, October 24th. The semiconductor producer reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.13. The business had revenue of $279.20 million for the quarter, compared to analysts’ expectations of $275.49 million. Mellanox Technologies had a net margin of 8.57% and a return on equity of 14.72%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. Analysts predict that Mellanox Technologies, Ltd. will post 3.56 earnings per share for the current fiscal year.

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Mellanox Technologies Profile

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, and sells interconnect products and solutions worldwide. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment, and other embedded systems. The company offers InfiniBand solutions, including switch and gateway integrated circuits (ICs), adapter cards, cables, modules, and software, as well as switch, gateway, and long-haul systems; Ethernet solutions, such as Ethernet switch products and Ethernet adapters for use in enterprise data center, high-performance computing, embedded environments, hyperscale, Web 2.0, and cloud data centers.

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Institutional Ownership by Quarter for Mellanox Technologies (NASDAQ:MLNX)

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