BNP Paribas Arbitrage SA lifted its stake in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 318,200.0% during the first quarter, HoldingsChannel reports. The firm owned 3,183 shares of the semiconductor producer’s stock after acquiring an additional 3,182 shares during the period. BNP Paribas Arbitrage SA’s holdings in Mellanox Technologies were worth $377,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Mellanox Technologies by 31.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,989,408 shares of the semiconductor producer’s stock valued at $183,783,000 after purchasing an additional 480,571 shares in the last quarter. Windacre Partnership LLC bought a new stake in Mellanox Technologies in the fourth quarter worth about $66,883,000. Two Sigma Investments LP raised its position in Mellanox Technologies by 37.9% in the fourth quarter. Two Sigma Investments LP now owns 713,897 shares of the semiconductor producer’s stock worth $65,950,000 after acquiring an additional 196,024 shares in the last quarter. Two Sigma Advisers LP raised its position in Mellanox Technologies by 49.2% in the fourth quarter. Two Sigma Advisers LP now owns 663,925 shares of the semiconductor producer’s stock worth $61,333,000 after acquiring an additional 219,000 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Mellanox Technologies by 9.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 579,624 shares of the semiconductor producer’s stock worth $68,604,000 after acquiring an additional 47,943 shares in the last quarter. Institutional investors and hedge funds own 78.14% of the company’s stock.
Several equities research analysts have commented on the stock. DA Davidson boosted their price target on shares of Mellanox Technologies to $124.00 and gave the stock a “buy” rating in a research report on Monday, January 28th. BidaskClub cut shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Barclays cut shares of Mellanox Technologies from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $108.00 to $125.00 in a research report on Tuesday, March 12th. Piper Jaffray Companies cut shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research report on Monday, March 11th. Finally, Jefferies Financial Group cut shares of Mellanox Technologies from a “buy” rating to a “hold” rating and dropped their price target for the stock from $130.00 to $125.00 in a research report on Friday, March 29th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $115.00.
In related news, Director Glenda Dorchak sold 4,000 shares of Mellanox Technologies stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $118.30, for a total value of $473,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.20% of the company’s stock.
Shares of Mellanox Technologies stock opened at $112.89 on Monday. The company has a current ratio of 3.38, a quick ratio of 2.99 and a debt-to-equity ratio of 0.04. Mellanox Technologies, Ltd. has a 52 week low of $65.68 and a 52 week high of $121.13. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 1.20 and a beta of 0.29.
Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Tuesday, April 16th. The semiconductor producer reported $1.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.30). The company had revenue of $305.20 million during the quarter, compared to analysts’ expectations of $300.40 million. Mellanox Technologies had a return on equity of 17.69% and a net margin of 12.69%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. As a group, analysts predict that Mellanox Technologies, Ltd. will post 4.9 earnings per share for the current year.
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Mellanox Technologies Company Profile
Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, markets, and sells interconnect products and solutions. 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; and 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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