Q4 2018 EPS Estimates for Mellanox Technologies, Ltd. Raised by KeyCorp (MLNX)

Mellanox Technologies, Ltd. (NASDAQ:MLNX) – Equities researchers at KeyCorp boosted their Q4 2018 earnings estimates for Mellanox Technologies in a research report issued to clients and investors on Wednesday. KeyCorp analyst J. Vinh now forecasts that the semiconductor producer will post earnings of $0.84 per share for the quarter, up from their previous estimate of $0.70.

A number of other research firms also recently commented on MLNX. DA Davidson lifted their price objective on shares of Mellanox Technologies to $75.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Zacks Investment Research raised shares of Mellanox Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 1st. Summit Redstone set a $75.00 price objective on shares of Mellanox Technologies and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus decreased their price objective on shares of Mellanox Technologies from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Mellanox Technologies in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $69.25.

Mellanox Technologies (NASDAQ:MLNX) traded up $7.10 during trading on Friday, reaching $70.05. 1,458,600 shares of the company’s stock were exchanged, compared to its average volume of 634,368. The firm has a market capitalization of $3,620.00, a P/E ratio of -179.62, a PEG ratio of 2.08 and a beta of 0.71. The company has a current ratio of 2.58, a quick ratio of 2.78 and a debt-to-equity ratio of 0.07. Mellanox Technologies has a 1 year low of $41.55 and a 1 year high of $70.35.

Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings results on Thursday, January 18th. The semiconductor producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The business had revenue of $237.60 million during the quarter, compared to the consensus estimate of $235.43 million. Mellanox Technologies had a negative net margin of 2.25% and a positive return on equity of 4.76%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share.

In other Mellanox Technologies news, CFO Yakov (Jacob) Shulman sold 2,406 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $65.39, for a total value of $157,328.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Eyal Waldman sold 1,975 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $65.23, for a total value of $128,829.25. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 1,292 shares of company stock worth $85,270 and sold 90,121 shares worth $5,815,915. Company insiders own 6.05% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Advisor Group Inc. lifted its stake in Mellanox Technologies by 294.2% in the fourth quarter. Advisor Group Inc. now owns 1,573 shares of the semiconductor producer’s stock valued at $101,000 after buying an additional 1,174 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Mellanox Technologies by 404.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,765 shares of the semiconductor producer’s stock valued at $114,000 after purchasing an additional 1,415 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Mellanox Technologies during the fourth quarter valued at about $166,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Mellanox Technologies by 36.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,955 shares of the semiconductor producer’s stock valued at $191,000 after purchasing an additional 788 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Mellanox Technologies during the fourth quarter valued at about $257,000. Institutional investors own 52.44% of the company’s stock.

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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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