Insider Selling: Mellanox Technologies, Ltd. (MLNX) Director Sells $388,960.00 in Stock

Mellanox Technologies, Ltd. (NASDAQ:MLNX) Director Glenda Dorchak sold 4,576 shares of the company’s stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $85.00, for a total value of $388,960.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Glenda Dorchak also recently made the following trade(s):

  • On Friday, October 26th, Glenda Dorchak sold 5,000 shares of Mellanox Technologies stock. The stock was sold at an average price of $85.01, for a total value of $425,050.00.

Shares of Mellanox Technologies stock opened at $86.22 on Friday. Mellanox Technologies, Ltd. has a 12 month low of $58.40 and a 12 month high of $99.14. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 94.75, a PEG ratio of 0.97 and a beta of 0.29.



Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Wednesday, October 24th. The semiconductor producer reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.13. Mellanox Technologies had a return on equity of 14.72% and a net margin of 8.57%. The business had revenue of $279.20 million during the quarter, compared to analysts’ expectations of $275.49 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The business’s revenue was up 23.7% compared to the same quarter last year. Equities research analysts expect that Mellanox Technologies, Ltd. will post 3.56 EPS for the current fiscal year.

A number of research firms recently weighed in on MLNX. Zacks Investment Research cut Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 19th. JPMorgan Chase & Co. raised Mellanox Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $98.00 to $100.00 in a report on Thursday, October 25th. BidaskClub cut Mellanox Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. Bank of America began coverage on Mellanox Technologies in a report on Wednesday, October 10th. They issued a “buy” rating and a $105.00 price target for the company. Finally, Jefferies Financial Group began coverage on Mellanox Technologies in a report on Tuesday, October 2nd. They issued a “buy” rating and a $110.00 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $102.15.

Institutional investors have recently made changes to their positions in the business. Fortis Advisors LLC acquired a new position in shares of Mellanox Technologies during the second quarter valued at approximately $122,000. USA Financial Portformulas Corp purchased a new stake in shares of Mellanox Technologies in the third quarter valued at approximately $253,000. Pitcairn Co. purchased a new stake in shares of Mellanox Technologies in the third quarter valued at approximately $253,000. Juncture Wealth Strategies LLC purchased a new stake in shares of Mellanox Technologies in the third quarter valued at approximately $256,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Mellanox Technologies in the second quarter valued at approximately $257,000. 74.03% of the stock is owned by institutional investors and hedge funds.

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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.

Further Reading: Leveraged Buyout (LBO)

Insider Buying and Selling by Quarter for Mellanox Technologies (NASDAQ:MLNX)

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