Mellanox Technologies, Ltd. (NASDAQ:MLNX) was the target of some unusual options trading activity on Thursday. Stock investors acquired 33,696 put options on the company. This is an increase of approximately 5,544% compared to the typical volume of 597 put options.
A number of brokerages recently weighed in on MLNX. BidaskClub lowered shares of Mellanox Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 3rd. Rosenblatt Securities reissued a “neutral” rating on shares of Mellanox Technologies in a report on Wednesday, April 17th. Jefferies Financial Group lowered shares of Mellanox Technologies from a “buy” rating to a “hold” rating and lowered their price target for the company from $130.00 to $125.00 in a report on Friday, March 29th. Zacks Investment Research lowered shares of Mellanox Technologies from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, Susquehanna Bancshares lowered shares of Mellanox Technologies from a “positive” rating to a “neutral” rating in a report on Monday, March 11th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $115.00.
MLNX traded down $1.92 during trading on Friday, reaching $112.97. 75,748 shares of the company’s stock were exchanged, compared to its average volume of 695,251. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.99 and a current ratio of 3.38. Mellanox Technologies has a fifty-two week low of $65.68 and a fifty-two week high of $121.13. The firm has a market capitalization of $6.29 billion, a PE ratio of 29.40, a P/E/G ratio of 1.24 and a beta of 0.29.
In related news, Director Glenda Dorchak sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $118.30, for a total value of $473,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.20% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can grew its holdings in Mellanox Technologies by 30.7% during the 1st quarter. Bank of Montreal Can now owns 426 shares of the semiconductor producer’s stock worth $51,000 after acquiring an additional 100 shares during the period. Security National Trust Co. bought a new stake in shares of Mellanox Technologies during the 1st quarter worth approximately $59,000. Private Capital Group LLC lifted its holdings in shares of Mellanox Technologies by 259.4% during the 4th quarter. Private Capital Group LLC now owns 787 shares of the semiconductor producer’s stock worth $73,000 after acquiring an additional 568 shares during the period. Mondrian Capital Management LLC bought a new stake in shares of Mellanox Technologies during the 4th quarter worth approximately $92,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Mellanox Technologies by 63.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 926 shares of the semiconductor producer’s stock worth $110,000 after acquiring an additional 359 shares during the period. 78.14% of the stock is owned by hedge funds and other institutional investors.
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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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