Allianz Asset Management AG Lowers Stake in Mellanox Technologies, Ltd. (MLNX)

Allianz Asset Management AG lowered its stake in Mellanox Technologies, Ltd. (NASDAQ:MLNX) by 63.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,504 shares of the company’s stock after selling 45,460 shares during the period. Allianz Asset Management AG owned approximately 0.05% of Mellanox Technologies worth $1,084,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Credit Agricole S A increased its stake in shares of Mellanox Technologies by 2.5% in the fourth quarter. Credit Agricole S A now owns 498,160 shares of the company’s stock valued at $20,375,000 after buying an additional 12,170 shares in the last quarter. FIL Ltd increased its stake in shares of Mellanox Technologies by 33.0% in the fourth quarter. FIL Ltd now owns 778,774 shares of the company’s stock valued at $31,852,000 after buying an additional 193,110 shares in the last quarter. Cortina Asset Management LLC increased its stake in shares of Mellanox Technologies by 28.4% in the fourth quarter. Cortina Asset Management LLC now owns 642,073 shares of the company’s stock valued at $26,261,000 after buying an additional 141,925 shares in the last quarter. FMR LLC increased its stake in shares of Mellanox Technologies by 15.9% in the fourth quarter. FMR LLC now owns 2,644,539 shares of the company’s stock valued at $108,161,000 after buying an additional 361,900 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Mellanox Technologies by 14.2% in the fourth quarter. State Street Corp now owns 48,953 shares of the company’s stock valued at $2,003,000 after buying an additional 6,092 shares in the last quarter. 61.94% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Mellanox Technologies (NASDAQ:MLNX)

Mellanox Technologies, Ltd. (NASDAQ:MLNX) opened at 52.10 on Tuesday. Mellanox Technologies, Ltd. has a 52-week low of $38.75 and a 52-week high of $55.80. The company has a market cap of $2.57 billion, a P/E ratio of 140.81 and a beta of 0.56. The company has a 50-day moving average of $48.28 and a 200-day moving average of $43.98.

Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.04. The firm earned $221.70 million during the quarter, compared to analyst estimates of $225.04 million. Mellanox Technologies had a return on equity of 10.68% and a net margin of 2.16%. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. On average, equities research analysts expect that Mellanox Technologies, Ltd. will post $2.99 earnings per share for the current fiscal year.

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Several brokerages have recently issued reports on MLNX. TheStreet raised shares of Mellanox Technologies from a “c+” rating to a “b-” rating in a research report on Monday, February 27th. Rosenblatt Securities began coverage on shares of Mellanox Technologies in a research report on Wednesday, February 22nd. They issued a “neutral” rating for the company. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $50.00 target price on shares of Mellanox Technologies in a research report on Sunday, February 5th. Barclays PLC reaffirmed a “buy” rating on shares of Mellanox Technologies in a research report on Friday, February 3rd. Finally, Jefferies Group LLC decreased their target price on shares of Mellanox Technologies from $37.00 to $36.00 and set a “sell” rating for the company in a research report on Thursday, February 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $58.79.

In other news, VP Michael Kagan sold 1,946 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $48.40, for a total value of $94,186.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Marc Sultzbaugh sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $49.12, for a total transaction of $245,600.00. The disclosure for this sale can be found here. 6.32% of the stock is currently owned by insiders.

Mellanox Technologies Company Profile

Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company designs, manufactures and sells interconnect products and solutions primarily based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment.

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