Mellanox Technologies, Ltd. (NASDAQ:MLNX) Expected to Post Earnings of $1.64 Per Share

Brokerages forecast that Mellanox Technologies, Ltd. (NASDAQ:MLNX) will post $1.64 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Mellanox Technologies’ earnings. The highest EPS estimate is $1.68 and the lowest is $1.59. Mellanox Technologies posted earnings of $1.42 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 15.5%. The company is scheduled to issue its next quarterly earnings report on Wednesday, January 29th.

On average, analysts expect that Mellanox Technologies will report full-year earnings of $6.42 per share for the current fiscal year, with EPS estimates ranging from $6.39 to $6.48. For the next year, analysts forecast that the company will post earnings of $7.10 per share, with EPS estimates ranging from $7.04 to $7.15. Zacks’ earnings per share calculations 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 results on Wednesday, October 30th. The semiconductor producer reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.11. The firm had revenue of $335.30 million for the quarter, compared to the consensus estimate of $315.59 million. Mellanox Technologies had a return on equity of 18.84% and a net margin of 14.03%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 earnings per share.

A number of brokerages have recently commented on MLNX. ValuEngine lowered Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. BidaskClub upgraded shares of Mellanox Technologies from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 27th. Finally, Zacks Investment Research downgraded Mellanox Technologies from a “hold” rating to a “sell” rating and set a $125.00 target price for the company. in a report on Thursday, December 5th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $124.19.

Shares of MLNX traded up $0.44 during trading hours on Friday, hitting $114.56. 8,500 shares of the company were exchanged, compared to its average volume of 313,333. Mellanox Technologies has a one year low of $78.86 and a one year high of $121.13. The firm has a fifty day simple moving average of $113.66 and a 200-day simple moving average of $111.26. The company has a market capitalization of $6.34 billion, a PE ratio of 29.77, a PEG ratio of 1.05 and a beta of 0.50.

A number of institutional investors have recently added to or reduced their stakes in MLNX. Comerica Bank raised its position in shares of Mellanox Technologies by 4.8% during the 2nd quarter. Comerica Bank now owns 3,290 shares of the semiconductor producer’s stock valued at $368,000 after acquiring an additional 150 shares in the last quarter. Brinker Capital Inc. raised its position in shares of Mellanox Technologies by 2.8% during the 3rd quarter. Brinker Capital Inc. now owns 5,851 shares of the semiconductor producer’s stock valued at $641,000 after acquiring an additional 159 shares in the last quarter. USA Financial Portformulas Corp raised its position in shares of Mellanox Technologies by 19.4% during the 2nd quarter. USA Financial Portformulas Corp now owns 2,188 shares of the semiconductor producer’s stock valued at $259,000 after acquiring an additional 356 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Mellanox Technologies by 5.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 6,991 shares of the semiconductor producer’s stock valued at $766,000 after acquiring an additional 360 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Mellanox Technologies by 14.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,954 shares of the semiconductor producer’s stock valued at $324,000 after acquiring an additional 373 shares in the last quarter. 76.05% of the stock is currently owned by hedge funds and other institutional investors.

About Mellanox Technologies

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.

Further Reading: Cost of Debt

Get a free copy of the Zacks research report on Mellanox Technologies (MLNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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.