Prudential PLC Trims Position in Mellanox Technologies, Ltd. (MLNX)

Prudential PLC lessened its position in shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 44.2% in the fourth quarter, Holdings Channel reports. The fund owned 52,339 shares of the semiconductor producer’s stock after selling 41,455 shares during the quarter. Prudential PLC’s holdings in Mellanox Technologies were worth $4,835,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MLNX. Massachusetts Financial Services Co. MA increased its position in Mellanox Technologies by 31.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,989,408 shares of the semiconductor producer’s stock valued at $183,783,000 after acquiring an additional 480,571 shares during the last quarter. Senvest Management LLC increased its position in Mellanox Technologies by 16.3% during the third quarter. Senvest Management LLC now owns 1,986,776 shares of the semiconductor producer’s stock valued at $145,929,000 after acquiring an additional 279,057 shares during the last quarter. Neuberger Berman Group LLC increased its position in Mellanox Technologies by 22.1% during the third quarter. Neuberger Berman Group LLC now owns 1,394,062 shares of the semiconductor producer’s stock valued at $102,389,000 after acquiring an additional 252,239 shares during the last quarter. Sandler Capital Management increased its position in Mellanox Technologies by 81.8% during the third quarter. Sandler Capital Management now owns 560,001 shares of the semiconductor producer’s stock valued at $41,132,000 after acquiring an additional 252,051 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Mellanox Technologies by 55.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 531,681 shares of the semiconductor producer’s stock valued at $49,117,000 after acquiring an additional 189,935 shares during the last quarter. Institutional investors own 78.36% of the company’s stock.

MLNX has been the subject of several recent research reports. DA Davidson boosted their price target on Mellanox Technologies to $124.00 and gave the company a “buy” rating in a report on Monday, January 28th. BidaskClub raised Mellanox Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. Jefferies Financial Group boosted their price target on Mellanox Technologies from $110.00 to $130.00 and gave the company a “buy” rating in a report on Monday, December 3rd. Barclays lowered Mellanox Technologies from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $108.00 to $125.00 in a report on Tuesday. Finally, Zacks Investment Research lowered Mellanox Technologies from a “buy” rating to a “hold” rating in a report on Monday, December 31st. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $109.27.



NASDAQ:MLNX opened at $118.02 on Friday. Mellanox Technologies, Ltd. has a 52-week low of $65.68 and a 52-week high of $119.10. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 1.32 and a beta of 0.29.

Mellanox Technologies (NASDAQ:MLNX) last released its quarterly earnings data on Wednesday, January 30th. The semiconductor producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.12. The firm had revenue of $290.07 million during the quarter, compared to analyst estimates of $284.96 million. Mellanox Technologies had a return on equity of 16.53% and a net margin of 12.33%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. On average, equities research analysts expect that Mellanox Technologies, Ltd. will post 4.82 EPS for the current fiscal year.

In other news, Director Amal M. Johnson sold 5,714 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $95.49, for a total value of $545,629.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

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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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