Zacks: Brokerages Anticipate Mellanox Technologies, Ltd. (MLNX) Will Announce Earnings of $1.31 Per Share

Equities analysts predict that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will post $1.31 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Mellanox Technologies’ earnings, with the highest EPS estimate coming in at $1.34 and the lowest estimate coming in at $1.23. Mellanox Technologies posted earnings per share of $0.82 in the same quarter last year, which suggests a positive year over year growth rate of 59.8%. The company is scheduled to issue its next quarterly earnings report on Thursday, January 17th.

On average, analysts expect that Mellanox Technologies will report full-year earnings of $4.87 per share for the current fiscal year, with EPS estimates ranging from $4.78 to $4.90. For the next year, analysts expect that the company will post earnings of $5.99 per share, with EPS estimates ranging from $5.54 to $6.55. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Mellanox Technologies.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings data on Wednesday, October 24th. The semiconductor producer reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.13. Mellanox Technologies had a net margin of 8.57% and a return on equity of 14.72%. The company had revenue of $279.20 million for the quarter, compared to analyst estimates of $275.49 million. During the same period in the prior year, the firm posted $0.71 EPS. The company’s quarterly revenue was up 23.7% on a year-over-year basis.

MLNX has been the topic of a number of research reports. BidaskClub downgraded shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. ValuEngine downgraded shares of Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research downgraded shares of Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Jefferies Financial Group initiated coverage on shares of Mellanox Technologies in a research report on Tuesday, October 2nd. They set a “buy” rating and a $110.00 target price on the stock. Finally, Bank of America initiated coverage on shares of Mellanox Technologies in a research report on Wednesday, October 10th. They set a “buy” rating and a $105.00 target price on the stock. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $100.62.

In other Mellanox Technologies news, VP Michael Kagan sold 339 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $81.00, for a total transaction of $27,459.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Glenda Dorchak sold 5,000 shares of the company’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $85.01, for a total transaction of $425,050.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,053 shares of company stock worth $1,977,069. Corporate insiders own 4.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd raised its holdings in Mellanox Technologies by 0.9% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,152,909 shares of the semiconductor producer’s stock worth $158,131,000 after buying an additional 20,175 shares during the last quarter. Senvest Management LLC raised its holdings in Mellanox Technologies by 16.3% during the third quarter. Senvest Management LLC now owns 1,986,776 shares of the semiconductor producer’s stock worth $145,929,000 after buying an additional 279,057 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in Mellanox Technologies by 22.1% during the third quarter. Neuberger Berman Group LLC now owns 1,394,062 shares of the semiconductor producer’s stock worth $102,389,000 after buying an additional 252,239 shares during the last quarter. Morgan Stanley grew its stake in shares of Mellanox Technologies by 562.2% in the 2nd quarter. Morgan Stanley now owns 1,072,024 shares of the semiconductor producer’s stock worth $90,373,000 after acquiring an additional 910,142 shares in the last quarter. Finally, FIL Ltd grew its stake in shares of Mellanox Technologies by 15.1% in the 3rd quarter. FIL Ltd now owns 929,435 shares of the semiconductor producer’s stock worth $68,267,000 after acquiring an additional 121,592 shares in the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.

Shares of NASDAQ:MLNX traded up $0.18 during trading on Tuesday, reaching $93.85. The stock had a trading volume of 794,619 shares, compared to its average volume of 1,144,055. Mellanox Technologies has a 52 week low of $48.60 and a 52 week high of $99.14. The firm has a market cap of $5.02 billion, a P/E ratio of 103.13, a P/E/G ratio of 1.39 and a beta of 0.31.

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.

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