Stock Traders Buy High Volume of Put Options on Mellanox Technologies (MLNX)

Mellanox Technologies, Ltd. (NASDAQ:MLNX) saw unusually large options trading on Friday. Stock investors purchased 2,056 put options on the company. This represents an increase of Infinity compared to the average volume of 0 put options.

Several brokerages have weighed in on MLNX. Barclays PLC cut Mellanox Technologies from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $50.00 to $48.00 in a research note on Monday, October 9th. KeyCorp restated a “hold” rating on shares of Mellanox Technologies in a research note on Friday, September 1st. BidaskClub upgraded Mellanox Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut Mellanox Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC restated a “sell” rating and set a $38.00 price objective on shares of Mellanox Technologies in a research note on Sunday, September 10th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $51.00.

In related news, CFO Yakov (Jacob) Shulman sold 2,706 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $46.32, for a total value of $125,341.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael Kagan sold 5,000 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $45.01, for a total value of $225,050.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,706 shares of company stock worth $2,943,042. 6.05% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Mellanox Technologies by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 4,488 shares of the semiconductor producer’s stock valued at $194,000 after purchasing an additional 199 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Mellanox Technologies by 4.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 21,011 shares of the semiconductor producer’s stock valued at $910,000 after purchasing an additional 917 shares during the last quarter. Swiss National Bank increased its position in shares of Mellanox Technologies by 2.2% during the 2nd quarter. Swiss National Bank now owns 73,821 shares of the semiconductor producer’s stock valued at $3,196,000 after purchasing an additional 1,600 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Mellanox Technologies during the 2nd quarter valued at $106,000. Finally, State Street Corp increased its position in shares of Mellanox Technologies by 5.3% during the 2nd quarter. State Street Corp now owns 53,753 shares of the semiconductor producer’s stock valued at $2,329,000 after purchasing an additional 2,725 shares during the last quarter. 62.13% of the stock is owned by hedge funds and other institutional investors.

Shares of Mellanox Technologies (NASDAQ MLNX) opened at $49.10 on Monday. Mellanox Technologies has a 12-month low of $38.75 and a 12-month high of $52.79. The stock has a market capitalization of $2,500.61, a price-to-earnings ratio of 52.23, a PEG ratio of 3.40 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.43 and a current ratio of 3.12.

Mellanox Technologies (NASDAQ:MLNX) last announced its earnings results on Wednesday, October 25th. The semiconductor producer reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. Mellanox Technologies had a positive return on equity of 4.76% and a negative net margin of 0.92%. The firm had revenue of $225.70 million during the quarter, compared to analyst estimates of $226.74 million. During the same period last year, the firm posted $0.93 EPS. The business’s revenue was up .7% compared to the same quarter last year. sell-side analysts predict that Mellanox Technologies will post 0.83 earnings per share for the current year.

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Mellanox Technologies Company Profile

Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company is an integrated supplier of interconnect products and solutions based on the InfiniBand and Ethernet standards. The Company operates in the development, manufacturing, marketing and sales of interconnect products segment. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems.

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