Mellanox Technologies, Ltd. (MLNX) Shares Bought by Legal & General Group Plc

Legal & General Group Plc raised its stake in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 49.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,533 shares of the semiconductor producer’s stock after acquiring an additional 4,453 shares during the quarter. Legal & General Group Plc’s holdings in Mellanox Technologies were worth $1,140,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in Mellanox Technologies by 5,000,000.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 50,001 shares of the semiconductor producer’s stock valued at $4,215,000 after acquiring an additional 50,000 shares during the period. CIBC World Markets Inc. bought a new position in Mellanox Technologies in the 1st quarter valued at about $246,000. Cavalier Investments LLC bought a new position in Mellanox Technologies in the 2nd quarter valued at about $505,000. Janney Montgomery Scott LLC bought a new position in Mellanox Technologies in the 2nd quarter valued at about $814,000. Finally, Private Advisory Group LLC bought a new position in Mellanox Technologies in the 2nd quarter valued at about $1,033,000. 75.29% of the stock is currently owned by hedge funds and other institutional investors.

In other Mellanox Technologies news, VP Michael Kagan sold 3,000 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $80.50, for a total transaction of $241,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Marc Sultzbaugh sold 10,000 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $76.13, for a total transaction of $761,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,956 shares of company stock worth $3,347,425. Company insiders own 4.20% of the company’s stock.

Several research firms have weighed in on MLNX. Jefferies Financial Group began coverage on shares of Mellanox Technologies in a report on Tuesday, October 2nd. They issued a “buy” rating and a $110.00 price target on the stock. Zacks Investment Research cut shares of Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 19th. ValuEngine cut shares of Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 4th. BidaskClub cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Friday, August 17th. Finally, Rosenblatt Securities reissued a “hold” rating on shares of Mellanox Technologies in a report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Mellanox Technologies currently has an average rating of “Buy” and a consensus target price of $99.55.

Shares of NASDAQ:MLNX opened at $74.29 on Monday. Mellanox Technologies, Ltd. has a 12-month low of $42.25 and a 12-month high of $90.45. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 81.64, a price-to-earnings-growth ratio of 1.44 and a beta of 0.54.

Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Tuesday, July 17th. The semiconductor producer reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.16. Mellanox Technologies had a net margin of 5.61% and a return on equity of 12.26%. The firm had revenue of $268.46 million for the quarter, compared to analyst estimates of $263.61 million. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue was up 26.7% compared to the same quarter last year. Sell-side analysts expect that Mellanox Technologies, Ltd. will post 3.41 earnings per share for the current year.

About Mellanox Technologies

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, and sells interconnect products and solutions worldwide. 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; 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.

Further Reading: The Discount Rate – What You Need to Know

Want to see what other hedge funds are holding MLNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mellanox Technologies, Ltd. (NASDAQ:MLNX).

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

Receive News & Ratings for Mellanox Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mellanox Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply