Mellanox Technologies, Ltd. (MLNX) Shares Sold by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC lowered its holdings in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 38.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,301 shares of the semiconductor producer’s stock after selling 3,899 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Mellanox Technologies were worth $297,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Granahan Investment Management Inc. MA raised its position in shares of Mellanox Technologies by 8.8% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 81,600 shares of the semiconductor producer’s stock worth $3,847,000 after acquiring an additional 6,567 shares in the last quarter. Senvest Management LLC raised its position in shares of Mellanox Technologies by 27.5% in the 3rd quarter. Senvest Management LLC now owns 1,087,095 shares of the semiconductor producer’s stock worth $51,257,000 after acquiring an additional 234,424 shares in the last quarter. Stifel Financial Corp raised its position in shares of Mellanox Technologies by 9.2% in the 3rd quarter. Stifel Financial Corp now owns 63,589 shares of the semiconductor producer’s stock worth $2,993,000 after acquiring an additional 5,354 shares in the last quarter. OxFORD Asset Management LLP bought a new position in shares of Mellanox Technologies in the 3rd quarter worth approximately $390,000. Finally, Pinnacle Associates Ltd. bought a new position in shares of Mellanox Technologies in the 3rd quarter worth approximately $365,000. Institutional investors and hedge funds own 60.81% of the company’s stock.
Several research analysts have recently issued reports on MLNX shares. Barclays lowered Mellanox Technologies from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $50.00 to $48.00 in a research report on Monday, October 9th. Jefferies Group reissued a “sell” rating and issued a $38.00 target price on shares of Mellanox Technologies in a research report on Sunday, September 10th. JPMorgan Chase & Co. lowered Mellanox Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Stifel Nicolaus increased their target price on Mellanox Technologies from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Finally, Zacks Investment Research raised Mellanox Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $58.60.
Mellanox Technologies, Ltd. (NASDAQ:MLNX) opened at $64.70 on Friday. Mellanox Technologies, Ltd. has a 52-week low of $40.70 and a 52-week high of $66.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.78 and a current ratio of 3.12. The firm has a market capitalization of $3,300.00, a P/E ratio of -404.38, a P/E/G ratio of 2.51 and a beta of 0.62.
Mellanox Technologies (NASDAQ:MLNX) last posted its quarterly earnings data on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.07. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The company had revenue of $225.70 million during the quarter, compared to analyst estimates of $226.74 million. During the same quarter last year, the company earned $0.93 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. equities analysts forecast that Mellanox Technologies, Ltd. will post 0.84 earnings per share for the current year.
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About Mellanox Technologies
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company is an integrated supplier of interconnect products and solutions based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.
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