Mellanox Technologies, Ltd. (NASDAQ:MLNX) Sees Significant Growth in Short Interest

Mellanox Technologies, Ltd. (NASDAQ:MLNX) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 1,830,000 shares, a growth of 13.7% from the January 15th total of 1,610,000 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average daily volume of 408,000 shares, the short-interest ratio is currently 4.5 days.

A number of equities research analysts have issued reports on the stock. BidaskClub downgraded Mellanox Technologies from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Rosenblatt Securities reiterated a “hold” rating on shares of Mellanox Technologies in a research report on Thursday, January 30th. ValuEngine upgraded Mellanox Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Zacks Investment Research lowered Mellanox Technologies from a “hold” rating to a “sell” rating and set a $125.00 price objective on the stock. in a research note on Thursday, December 5th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $124.19.

In related news, VP Marc Sultzbaugh sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $120.01, for a total value of $240,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glenda Dorchak sold 1,000 shares of Mellanox Technologies stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $120.05, for a total transaction of $120,050.00. The disclosure for this sale can be found here. Insiders sold 5,930 shares of company stock valued at $711,641 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MLNX. CWM LLC purchased a new position in Mellanox Technologies in the 4th quarter worth approximately $33,000. Princeton Global Asset Management LLC purchased a new stake in shares of Mellanox Technologies during the 4th quarter valued at $53,000. Vigilant Capital Management LLC bought a new stake in shares of Mellanox Technologies during the 4th quarter worth $59,000. Greenwood Capital Associates LLC bought a new stake in shares of Mellanox Technologies during the 4th quarter worth $287,000. Finally, Aigen Investment Management LP bought a new stake in shares of Mellanox Technologies during the 4th quarter worth $290,000. 74.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:MLNX opened at $121.17 on Friday. The company has a 50 day moving average of $119.19 and a 200 day moving average of $113.65. The stock has a market cap of $6.72 billion, a P/E ratio of 33.47, a P/E/G ratio of 0.87 and a beta of 0.51. Mellanox Technologies has a 12 month low of $96.61 and a 12 month high of $122.10.

Mellanox Technologies (NASDAQ:MLNX) last posted its earnings results on Wednesday, January 29th. The semiconductor producer reported $2.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.61. Mellanox Technologies had a net margin of 15.41% and a return on equity of 21.26%. The business had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $333.35 million. During the same period in the prior year, the company posted $1.42 EPS. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. On average, equities analysts anticipate that Mellanox Technologies will post 7.6 earnings per share for the current 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.

Read More: Dividend Reinvestment Plan (DRIP)

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