Mellanox Technologies, Ltd. (NASDAQ:MLNX) Stake Lifted by Swiss National Bank

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Swiss National Bank raised its position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 12.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 89,321 shares of the semiconductor producer’s stock after purchasing an additional 9,700 shares during the period. Swiss National Bank’s holdings in Mellanox Technologies were worth $10,572,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of MLNX. Bank of Montreal Can increased its stake in shares of Mellanox Technologies by 30.7% in the 1st quarter. Bank of Montreal Can now owns 426 shares of the semiconductor producer’s stock valued at $51,000 after acquiring an additional 100 shares in the last quarter. Private Capital Group LLC increased its stake in shares of Mellanox Technologies by 15.4% in the 1st quarter. Private Capital Group LLC now owns 908 shares of the semiconductor producer’s stock valued at $107,000 after acquiring an additional 121 shares in the last quarter. Northern Trust Corp increased its stake in shares of Mellanox Technologies by 0.5% in the 4th quarter. Northern Trust Corp now owns 38,003 shares of the semiconductor producer’s stock valued at $3,511,000 after acquiring an additional 172 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Mellanox Technologies by 63.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 926 shares of the semiconductor producer’s stock valued at $110,000 after acquiring an additional 359 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Mellanox Technologies by 0.9% in the 4th quarter. Nordea Investment Management AB now owns 42,800 shares of the semiconductor producer’s stock valued at $3,954,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 75.20% of the company’s stock.

Several research firms have recently weighed in on MLNX. BidaskClub lowered shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Barclays lowered shares of Mellanox Technologies from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $108.00 to $125.00 in a research note on Tuesday, March 12th. Jefferies Financial Group lowered shares of Mellanox Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the company from $130.00 to $125.00 in a research note on Friday, March 29th. Piper Jaffray Companies lowered shares of Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research note on Monday, March 11th. Finally, Susquehanna Bancshares lowered shares of Mellanox Technologies from a “positive” rating to a “neutral” rating in a research note on Monday, March 11th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $115.00.

Shares of MLNX stock opened at $111.07 on Thursday. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 1.19 and a beta of 0.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.38 and a quick ratio of 2.99. Mellanox Technologies, Ltd. has a 12 month low of $65.68 and a 12 month high of $121.13.

Mellanox Technologies (NASDAQ:MLNX) last announced its quarterly earnings results on Tuesday, April 16th. The semiconductor producer reported $1.15 EPS for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.30). The business had revenue of $305.20 million for the quarter, compared to the consensus estimate of $300.40 million. Mellanox Technologies had a net margin of 12.69% and a return on equity of 17.69%. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 EPS. Analysts forecast that Mellanox Technologies, Ltd. will post 4.9 EPS for the current year.

In other Mellanox Technologies news, Director Glenda Dorchak sold 4,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $118.30, for a total transaction of $473,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steve Sanghi purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were acquired at an average price of $110.54 per share, with a total value of $2,210,800.00. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.

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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.

See Also: What are Institutional Investors?

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

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