Equities research analysts expect Mellanox Technologies, Ltd. (NASDAQ:MLNX) to report sales of $331.18 million for the current quarter, Zacks reports. Two analysts have made estimates for Mellanox Technologies’ earnings, with estimates ranging from $327.10 million to $335.25 million. Mellanox Technologies reported sales of $290.07 million during the same quarter last year, which would suggest a positive year over year growth rate of 14.2%. The firm is scheduled to report its next quarterly earnings report on Wednesday, January 29th.
On average, analysts expect that Mellanox Technologies will report full year sales of $1.28 billion for the current fiscal year, with estimates ranging from $1.28 billion to $1.29 billion. For the next financial year, analysts expect that the business will report sales of $1.38 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Mellanox Technologies.
Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Wednesday, October 30th. The semiconductor producer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.58 by $0.11. The company had revenue of $335.30 million for the quarter, compared to analysts’ expectations of $315.59 million. Mellanox Technologies had a return on equity of 18.84% and a net margin of 14.03%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 earnings per share.
MLNX has been the topic of several research analyst reports. Zacks Investment Research upgraded Mellanox Technologies from a “sell” rating to a “hold” rating and set a $125.00 target price on the stock in a report on Tuesday, November 5th. BidaskClub upgraded Mellanox Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, November 1st. Finally, ValuEngine cut Mellanox Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $124.19.
Shares of MLNX stock opened at $114.80 on Friday. The stock’s fifty day moving average is $111.75 and its 200-day moving average is $111.62. The stock has a market capitalization of $6.37 billion, a PE ratio of 29.82, a PEG ratio of 1.05 and a beta of 0.49. Mellanox Technologies has a 52 week low of $78.86 and a 52 week high of $121.13.
In related news, VP Marc Sultzbaugh sold 7,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $109.25, for a total value of $819,375.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.20% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Comerica Bank boosted its holdings in Mellanox Technologies by 4.8% in the second quarter. Comerica Bank now owns 3,290 shares of the semiconductor producer’s stock valued at $368,000 after acquiring an additional 150 shares during the last quarter. Brinker Capital Inc. boosted its holdings in Mellanox Technologies by 2.8% in the third 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 during the last quarter. Cerebellum GP LLC boosted its holdings in Mellanox Technologies by 7.6% in the second quarter. Cerebellum GP LLC now owns 3,003 shares of the semiconductor producer’s stock valued at $332,000 after acquiring an additional 212 shares during the last quarter. USA Financial Portformulas Corp boosted its holdings in Mellanox Technologies by 19.4% in the second 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 during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Mellanox Technologies by 5.4% in the third 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 during the last quarter. Institutional investors and hedge funds own 78.21% of the company’s stock.
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.
Read More: Why are gap-down stocks important?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.