Starboard Value LP cut its stake in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 18.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,442,678 shares of the semiconductor producer’s stock after selling 1,023,943 shares during the quarter. Mellanox Technologies comprises approximately 8.4% of Starboard Value LP’s investment portfolio, making the stock its 6th biggest position. Starboard Value LP owned about 8.30% of Mellanox Technologies worth $326,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MLNX. Fortis Advisors LLC acquired a new stake in shares of Mellanox Technologies in the 2nd quarter worth $122,000. USA Financial Portformulas Corp acquired a new stake in shares of Mellanox Technologies in the 3rd quarter worth $253,000. Pitcairn Co. acquired a new stake in shares of Mellanox Technologies in the 3rd quarter worth $253,000. Juncture Wealth Strategies LLC acquired a new stake in shares of Mellanox Technologies in the 3rd quarter worth $256,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Mellanox Technologies in the 2nd quarter worth $257,000. 74.03% of the stock is owned by institutional investors and hedge funds.

A number of analysts have issued reports on the company. Zacks Investment Research downgraded Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 19th. ValuEngine downgraded Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. JPMorgan Chase & Co. raised Mellanox Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $98.00 to $100.00 in a research note on Thursday, October 25th. Bank of America assumed coverage on Mellanox Technologies in a research note on Wednesday, October 10th. They issued a “buy” rating and a $105.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on Mellanox Technologies in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $110.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $102.15.

Shares of NASDAQ:MLNX traded up $1.42 during midday trading on Monday, reaching $93.45. 85,460 shares of the company’s stock were exchanged, compared to its average volume of 747,961. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 102.69, a PEG ratio of 1.36 and a beta of 0.30. Mellanox Technologies, Ltd. has a fifty-two week low of $58.40 and a fifty-two week high of $99.14.

Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings data on Wednesday, October 24th. The semiconductor producer reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.13. The firm had revenue of $279.20 million during the quarter, compared to the consensus estimate of $275.49 million. Mellanox Technologies had a return on equity of 14.72% and a net margin of 8.57%. The company’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the company earned $0.71 EPS. On average, sell-side analysts expect that Mellanox Technologies, Ltd. will post 3.56 EPS for the current year.

In other Mellanox Technologies news, Director Amal M. Johnson sold 5,714 shares of Mellanox Technologies stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $90.00, for a total value of $514,260.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Glenda Dorchak sold 5,000 shares of Mellanox Technologies stock in a transaction dated Friday, October 26th. The shares were sold at an average price of $85.01, for a total value of $425,050.00. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

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About Mellanox Technologies

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, and sells interconnect products and solutions worldwide. 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; 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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Institutional Ownership by Quarter for Mellanox Technologies (NASDAQ:MLNX)

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