Mellanox Technologies, Ltd. (NASDAQ:MLNX) – Investment analysts at DA Davidson lifted their Q4 2018 earnings estimates for Mellanox Technologies in a research report issued to clients and investors on Thursday. DA Davidson analyst M. Kelleher now expects that the semiconductor producer will post earnings per share of $0.60 for the quarter, up from their prior estimate of $0.56.

Mellanox Technologies (NASDAQ:MLNX) last posted its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. Mellanox Technologies had a positive return on equity of 4.82% and a negative net margin of 0.92%. The business had revenue of $225.70 million during the quarter, compared to analyst estimates of $226.74 million. During the same quarter last year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year.

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A number of other analysts have also recently weighed in on MLNX. BidaskClub raised Mellanox Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Mellanox Technologies from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Thursday, July 27th. Barclays PLC reaffirmed a “buy” rating and issued a $50.00 price target (down previously from $54.00) on shares of Mellanox Technologies in a research report on Thursday, July 27th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $47.00 price target on shares of Mellanox Technologies in a research report on Friday, July 28th. Finally, Credit Suisse Group set a $45.00 price target on Mellanox Technologies and gave the stock a “hold” rating in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Mellanox Technologies currently has an average rating of “Hold” and an average target price of $51.00.

Mellanox Technologies (NASDAQ:MLNX) traded down 1.89% during midday trading on Monday, hitting $46.80. The stock had a trading volume of 711,840 shares. The company’s 50-day moving average price is $46.11 and its 200 day moving average price is $46.00. Mellanox Technologies has a 12-month low of $38.75 and a 12-month high of $52.79. The stock has a market cap of $2.35 billion, a P/E ratio of 6685.71 and a beta of 0.69.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC acquired a new position in shares of Mellanox Technologies during the 2nd quarter worth about $106,000. SG Americas Securities LLC bought a new position in Mellanox Technologies during the second quarter valued at about $122,000. Oppenheimer Asset Management Inc. bought a new position in Mellanox Technologies during the first quarter valued at about $186,000. Legal & General Group Plc increased its stake in Mellanox Technologies by 4.6% during the second quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after acquiring an additional 199 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in Mellanox Technologies during the first quarter valued at about $236,000. 60.92% of the stock is owned by institutional investors and hedge funds.

In related news, VP Michael Kagan sold 2,500 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $46.56, for a total transaction of $116,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.05% of the stock is currently owned by insiders.

Mellanox Technologies Company Profile

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.

Earnings History and Estimates for Mellanox Technologies (NASDAQ:MLNX)

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