Allianz Asset Management AG decreased its position in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 63.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,504 shares of the company’s stock after selling 45,460 shares during the period. Allianz Asset Management AG’s holdings in Mellanox Technologies were worth $1,084,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westpac Banking Corp bought a new position in Mellanox Technologies during the third quarter worth about $143,000. Creative Planning increased its position in Mellanox Technologies by 30.5% in the third quarter. Creative Planning now owns 4,672 shares of the company’s stock worth $202,000 after buying an additional 1,091 shares during the last quarter. Penserra Capital Management LLC increased its position in Mellanox Technologies by 52.8% in the third quarter. Penserra Capital Management LLC now owns 5,096 shares of the company’s stock worth $220,000 after buying an additional 1,760 shares during the last quarter. RiverPoint Capital Management LLC increased its position in Mellanox Technologies by 18.0% in the third quarter. RiverPoint Capital Management LLC now owns 7,085 shares of the company’s stock worth $306,000 after buying an additional 1,080 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Mellanox Technologies during the third quarter worth about $422,000. Institutional investors own 61.94% of the company’s stock.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) opened at 52.10 on Tuesday. The firm’s 50-day moving average is $48.28 and its 200 day moving average is $43.98. Mellanox Technologies, Ltd. has a 12-month low of $38.75 and a 12-month high of $55.80. The firm has a market cap of $2.57 billion, a P/E ratio of 140.81 and a beta of 0.56.
Mellanox Technologies (NASDAQ:MLNX) last issued its earnings results on Wednesday, February 1st. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.04. Mellanox Technologies had a return on equity of 10.68% and a net margin of 2.16%. The firm earned $221.70 million during the quarter, compared to the consensus estimate of $225.04 million. During the same quarter in the prior year, the business posted $0.77 EPS. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. Equities analysts forecast that Mellanox Technologies, Ltd. will post $2.99 earnings per share for the current year.
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A number of research analysts recently issued reports on the stock. TheStreet downgraded shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a research report on Monday, December 12th. Rosenblatt Securities assumed coverage on shares of Mellanox Technologies in a research report on Wednesday, February 22nd. They set a “neutral” rating on the stock. Credit Suisse Group AG reiterated a “buy” rating and set a $50.00 target price on shares of Mellanox Technologies in a research report on Sunday, February 5th. Jefferies Group LLC dropped their target price on shares of Mellanox Technologies from $37.00 to $36.00 and set a “sell” rating on the stock in a research report on Thursday, February 2nd. Finally, Barclays PLC reiterated a “buy” rating and set a $55.00 target price on shares of Mellanox Technologies in a research report on Wednesday, January 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Mellanox Technologies currently has a consensus rating of “Buy” and a consensus target price of $58.79.
In other news, VP Michael Kagan sold 1,946 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $48.40, for a total value of $94,186.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Marc Sultzbaugh sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $49.12, for a total transaction of $245,600.00. The disclosure for this sale can be found here. 6.32% of the stock is currently owned by company insiders.
About Mellanox Technologies
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company designs, manufactures and sells interconnect products and solutions primarily based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment.
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