Equities research analysts expect that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will post $1.55 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Mellanox Technologies’ earnings, with estimates ranging from $1.49 to $1.59. Mellanox Technologies posted earnings per share of $1.25 in the same quarter last year, which would suggest a positive year-over-year growth rate of 24%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, July 24th.
On average, analysts expect that Mellanox Technologies will report full year earnings of $6.48 per share for the current fiscal year, with EPS estimates ranging from $6.33 to $6.90. For the next year, analysts expect that the firm will post earnings of $7.20 per share, with EPS estimates ranging from $6.83 to $7.90. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Mellanox Technologies.
Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Tuesday, April 16th. The semiconductor producer reported $1.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.30). Mellanox Technologies had a net margin of 12.69% and a return on equity of 17.69%. The firm had revenue of $305.20 million during the quarter, compared to analyst estimates of $300.40 million. During the same quarter last year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was up 21.6% on a year-over-year basis.
Several brokerages recently issued reports on MLNX. BidaskClub downgraded shares of Mellanox Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Rosenblatt Securities reiterated a “neutral” rating on shares of Mellanox Technologies in a research note on Wednesday, April 17th. Jefferies Financial Group downgraded shares of Mellanox Technologies from a “buy” rating to a “hold” rating and cut their target price for the company from $130.00 to $125.00 in a research note on Friday, March 29th. Zacks Investment Research downgraded shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Susquehanna Bancshares downgraded shares of Mellanox Technologies from a “positive” rating to a “neutral” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $113.88.
In related news, Director Steve Sanghi acquired 20,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of $110.54 per share, for a total transaction of $2,210,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Bank of Montreal Can lifted its position in Mellanox Technologies by 30.7% during the first quarter. Bank of Montreal Can now owns 426 shares of the semiconductor producer’s stock worth $51,000 after acquiring an additional 100 shares during the last quarter. Security National Trust Co. bought a new position in shares of Mellanox Technologies during the first quarter worth approximately $59,000. Private Capital Group LLC increased its holdings in shares of Mellanox Technologies by 15.4% during the first quarter. Private Capital Group LLC now owns 908 shares of the semiconductor producer’s stock worth $107,000 after purchasing an additional 121 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Mellanox Technologies by 63.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 926 shares of the semiconductor producer’s stock worth $110,000 after purchasing an additional 359 shares during the period. Finally, QS Investors LLC increased its holdings in shares of Mellanox Technologies by 1,374.0% during the fourth quarter. QS Investors LLC now owns 1,813 shares of the semiconductor producer’s stock worth $168,000 after purchasing an additional 1,690 shares during the period. Hedge funds and other institutional investors own 75.17% of the company’s stock.
NASDAQ:MLNX traded down $0.30 during mid-day trading on Friday, hitting $112.30. The stock had a trading volume of 1,576 shares, compared to its average volume of 477,340. Mellanox Technologies has a twelve month low of $65.68 and a twelve month high of $121.13. The firm has a market cap of $6.14 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 1.20 and a beta of 0.36. The stock has a 50 day simple moving average of $111.16. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.99 and a current ratio of 3.38.
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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