Investors Buy Large Volume of Mellanox Technologies Put Options (MLNX)

Mellanox Technologies, Ltd. (NASDAQ:MLNX) was the recipient of some unusual options trading activity on Friday. Investors purchased 2,056 put options on the stock. This represents an increase of Infinity compared to the typical daily volume of 0 put options.

Several equities analysts recently commented on MLNX shares. Barclays PLC downgraded shares of Mellanox Technologies from an “overweight” rating to an “underweight” rating and cut their price target for the company from $50.00 to $48.00 in a report on Monday, October 9th. Jefferies Group LLC reiterated a “sell” rating and set a $38.00 price target on shares of Mellanox Technologies in a report on Sunday, September 10th. Benchmark Co. started coverage on shares of Mellanox Technologies in a report on Tuesday, August 29th. They set a “buy” rating and a $60.00 price target on the stock. BidaskClub downgraded shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $47.00 price target on shares of Mellanox Technologies in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Mellanox Technologies has an average rating of “Hold” and an average price target of $51.00.

Mellanox Technologies (NASDAQ:MLNX) opened at $48.80 on Wednesday. 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 one year low of $38.75 and a one year high of $52.79. The stock has a market cap of $2,500.60, a P/E ratio of 52.23, a PEG ratio of 3.40 and a beta of 0.54.

Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 firm had revenue of $225.70 million for the quarter, compared to the consensus estimate of $226.74 million. During the same period last year, the firm earned $0.93 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. analysts predict that Mellanox Technologies will post 0.83 EPS for the current year.

In related news, VP Michael Kagan sold 5,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $45.01, for a total transaction of $225,050.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eyal Waldman sold 121,772 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $50.00, for a total transaction of $6,088,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 197,478 shares of company stock worth $9,676,642 over the last 90 days. Corporate insiders own 6.05% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLNX. UBS Asset Management Americas Inc. boosted its stake in shares of Mellanox Technologies by 25.2% during the first quarter. UBS Asset Management Americas Inc. now owns 20,094 shares of the semiconductor producer’s stock valued at $1,024,000 after purchasing an additional 4,047 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Mellanox Technologies by 7.1% during the first quarter. Vanguard Group Inc. now owns 133,428 shares of the semiconductor producer’s stock valued at $6,798,000 after purchasing an additional 8,841 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Mellanox Technologies by 16.3% during the first quarter. Geode Capital Management LLC now owns 27,026 shares of the semiconductor producer’s stock valued at $1,376,000 after purchasing an additional 3,784 shares in the last quarter. KCG Holdings Inc. bought a new position in shares of Mellanox Technologies during the first quarter valued at approximately $452,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Mellanox Technologies during the first quarter valued at approximately $186,000. Hedge funds and other institutional investors own 59.41% 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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