Mellanox Technologies (MLNX) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Mellanox Technologies (NASDAQ:MLNX) issued its quarterly earnings data on Wednesday. The semiconductor producer reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.13, MarketWatch Earnings reports. The business had revenue of $279.20 million during the quarter, compared to the consensus estimate of $275.49 million. Mellanox Technologies had a net margin of 5.61% and a return on equity of 12.26%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. Mellanox Technologies updated its Q4 2018 guidance to EPS.

MLNX stock opened at $72.77 on Friday. Mellanox Technologies has a 12 month low of $42.25 and a 12 month high of $90.45. The firm has a market capitalization of $3.81 billion, a P/E ratio of 79.97, a price-to-earnings-growth ratio of 1.15 and a beta of 0.54.

MLNX has been the subject of a number of research reports. Zacks Investment Research cut shares of Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 19th. BidaskClub cut shares of Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. ValuEngine cut shares of Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. Barclays boosted their target price on Mellanox Technologies from $103.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, July 18th. Finally, Bank of America started coverage on Mellanox Technologies in a report on Wednesday, October 10th. They issued a “buy” rating and a $105.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $100.62.



In other Mellanox Technologies news, VP Michael Kagan sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $83.00, for a total transaction of $249,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Marc Sultzbaugh sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $76.13, for a total value of $761,300.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,339 shares of company stock valued at $1,279,259. 4.20% of the stock is owned by insiders.

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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Earnings History for Mellanox Technologies (NASDAQ:MLNX)

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