Insider Selling: Mellanox Technologies, Ltd. (MLNX) VP Sells 10,000 Shares of Stock

Mellanox Technologies, Ltd. (NASDAQ:MLNX) VP Marc Sultzbaugh sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $76.13, for a total value of $761,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Marc Sultzbaugh also recently made the following trade(s):

  • On Friday, July 20th, Marc Sultzbaugh sold 10,000 shares of Mellanox Technologies stock. The shares were sold at an average price of $85.00, for a total value of $850,000.00.

MLNX stock traded down $1.61 during trading on Friday, hitting $74.29. The company had a trading volume of 354,616 shares, compared to its average volume of 500,784. Mellanox Technologies, Ltd. has a one year low of $42.25 and a one year high of $90.45. The stock has a market capitalization of $3.89 billion, a PE ratio of 81.64, a PEG ratio of 1.44 and a beta of 0.54.

Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Tuesday, July 17th. The semiconductor producer reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.16. The business had revenue of $268.46 million for the quarter, compared to analysts’ expectations of $263.61 million. Mellanox Technologies had a return on equity of 12.26% and a net margin of 5.61%. The firm’s revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. Sell-side analysts predict that Mellanox Technologies, Ltd. will post 3.41 earnings per share for the current year.

Several research analysts have recently issued reports on the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Mellanox Technologies in a research note on Wednesday, July 18th. BidaskClub cut Mellanox Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Benchmark upped their target price on Mellanox Technologies from $110.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 18th. Barclays upped their target price on Mellanox Technologies from $103.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, July 18th. Finally, Rosenblatt Securities reiterated a “hold” rating on shares of Mellanox Technologies in a report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. Mellanox Technologies has a consensus rating of “Buy” and a consensus target price of $99.55.

Several institutional investors have recently bought and sold shares of MLNX. Morgan Stanley boosted its holdings in shares of Mellanox Technologies by 562.2% during the 2nd quarter. Morgan Stanley now owns 1,072,024 shares of the semiconductor producer’s stock worth $90,373,000 after buying an additional 910,142 shares in the last quarter. Senvest Management LLC boosted its holdings in shares of Mellanox Technologies by 131.4% during the 1st quarter. Senvest Management LLC now owns 1,561,745 shares of the semiconductor producer’s stock worth $113,773,000 after buying an additional 886,745 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Mellanox Technologies during the 2nd quarter worth approximately $27,056,000. Renaissance Technologies LLC boosted its holdings in shares of Mellanox Technologies by 72.2% during the 2nd quarter. Renaissance Technologies LLC now owns 681,483 shares of the semiconductor producer’s stock worth $57,449,000 after buying an additional 285,800 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Mellanox Technologies by 15.2% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,132,734 shares of the semiconductor producer’s stock worth $179,789,000 after buying an additional 280,711 shares in the last quarter. Hedge funds and other institutional investors own 75.29% of the company’s stock.

About Mellanox Technologies

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.

Further Reading: Hedge Funds

Insider Buying and Selling by Quarter for Mellanox Technologies (NASDAQ:MLNX)

Receive News & Ratings for Mellanox Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mellanox Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply