Mellanox Technologies, Ltd. (NASDAQ:MLNX) Short Interest Up 6.2% in July

Mellanox Technologies, Ltd. (NASDAQ:MLNX) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 2,531,600 shares, an increase of 6.2% from the June 30th total of 2,383,400 shares. Approximately 5.1% of the company’s shares are sold short. Based on an average trading volume of 607,200 shares, the days-to-cover ratio is currently 4.2 days.

In related news, VP Marc Sultzbaugh sold 2,500 shares of Mellanox Technologies stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $109.00, for a total value of $272,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Glenda Dorchak sold 1,750 shares of Mellanox Technologies stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $112.12, for a total value of $196,210.00. Following the completion of the transaction, the director now directly owns 20,716 shares in the company, valued at $2,322,677.92. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new stake in shares of Mellanox Technologies during the second quarter valued at approximately $49,000. Bank of Montreal Can increased its holdings in shares of Mellanox Technologies by 30.7% during the first quarter. Bank of Montreal Can now owns 426 shares of the semiconductor producer’s stock valued at $51,000 after acquiring an additional 100 shares in the last quarter. Oakworth Capital Inc. bought a new stake in shares of Mellanox Technologies during the second quarter valued at approximately $58,000. Security National Trust Co. bought a new stake in shares of Mellanox Technologies during the first quarter valued at approximately $59,000. Finally, Tyers Asset Management LLC bought a new stake in shares of Mellanox Technologies during the second quarter valued at approximately $73,000. 74.29% of the stock is currently owned by hedge funds and other institutional investors.

MLNX has been the topic of a number of recent analyst reports. BidaskClub raised Mellanox Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 3rd. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Mellanox Technologies in a research note on Wednesday, April 17th. ValuEngine lowered Mellanox Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Zacks Investment Research raised Mellanox Technologies from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $117.99.

MLNX traded down $0.31 during trading on Thursday, hitting $107.54. The company’s stock had a trading volume of 182,364 shares, compared to its average volume of 1,048,182. Mellanox Technologies has a twelve month low of $65.68 and a twelve month high of $121.13. The stock’s fifty day moving average price is $111.17 and its 200-day moving average price is $112.03. The firm has a market capitalization of $5.91 billion, a P/E ratio of 27.93, a PEG ratio of 0.98 and a beta of 0.42.

Mellanox Technologies (NASDAQ:MLNX) last issued its quarterly earnings results on Wednesday, July 24th. The semiconductor producer reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.10). Mellanox Technologies had a net margin of 14.09% and a return on equity of 16.86%. The business had revenue of $310.30 million during the quarter, compared to analyst estimates of $307.24 million. During the same period last year, the firm posted $1.25 earnings per share. Mellanox Technologies’s quarterly revenue was up 15.6% compared to the same quarter last year. Equities analysts predict that Mellanox Technologies will post 5.08 earnings per share for the current fiscal year.

Mellanox Technologies Company Profile

Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, markets, and sells interconnect products and solutions. 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; and 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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