Mellanox Technologies, Ltd. (NASDAQ:MLNX) Sees Significant Growth in Short Interest

Mellanox Technologies, Ltd. (NASDAQ:MLNX) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 1,830,000 shares, a growth of 13.7% from the January 15th total of 1,610,000 shares. Based on an average daily trading volume, of 408,000 shares, the short-interest ratio is currently 4.5 days. Approximately 3.5% of the company’s shares are sold short.

In other Mellanox Technologies news, VP Marc Sultzbaugh sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $120.01, for a total transaction of $240,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas T. Ahrens sold 2,930 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $119.99, for a total transaction of $351,570.70. The disclosure for this sale can be found here. Insiders sold a total of 5,930 shares of company stock worth $711,641 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its holdings in shares of Mellanox Technologies by 650.7% in the 3rd quarter. First Trust Advisors LP now owns 17,881 shares of the semiconductor producer’s stock worth $1,960,000 after purchasing an additional 15,499 shares in the last quarter. Virtu Financial LLC raised its holdings in Mellanox Technologies by 431.6% during the third quarter. Virtu Financial LLC now owns 14,753 shares of the semiconductor producer’s stock worth $1,617,000 after buying an additional 11,978 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of Mellanox Technologies by 2.8% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 270,959 shares of the semiconductor producer’s stock valued at $29,694,000 after buying an additional 7,500 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Mellanox Technologies by 41.5% in the third quarter. California Public Employees Retirement System now owns 111,664 shares of the semiconductor producer’s stock valued at $12,237,000 after buying an additional 32,723 shares in the last quarter. Finally, Phoenix Holdings Ltd. bought a new position in shares of Mellanox Technologies in the third quarter valued at $12,151,000. Institutional investors own 74.63% of the company’s stock.

Several equities research analysts have recently weighed in on MLNX shares. Zacks Investment Research cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating and set a $125.00 price objective for the company. in a research report on Thursday, December 5th. BidaskClub lowered shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Rosenblatt Securities reaffirmed a “hold” rating on shares of Mellanox Technologies in a research report on Thursday, January 30th. Finally, ValuEngine upgraded Mellanox Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Mellanox Technologies presently has a consensus rating of “Hold” and a consensus price target of $124.19.

Shares of MLNX stock opened at $121.17 on Friday. Mellanox Technologies has a fifty-two week low of $96.61 and a fifty-two week high of $122.10. The stock has a 50 day simple moving average of $119.19 and a two-hundred day simple moving average of $113.65. The company has a market cap of $6.72 billion, a P/E ratio of 33.47, a PEG ratio of 0.87 and a beta of 0.51.

Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor producer reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.61. The firm had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $333.35 million. Mellanox Technologies had a return on equity of 21.26% and a net margin of 15.41%. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 EPS. On average, research analysts predict that Mellanox Technologies will post 7.6 EPS for the current year.

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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