Mellanox Technologies Ltd. (MLNX) reported quarterly earnings results on Wednesday, Apr-20-2016. The company said it had a profit of $0.81 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.75. The company posted revenue of $196.80 million in the period, compared to analysts expectations of $192.52 million. The company’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.
Many Wall Street Analysts have commented on Mellanox Technologies Ltd.. Mellanox Technologies Ltd. was Initiated by Sterne Agee CRT to “Neutral” on Mar 2, 2016. Mellanox Technologies Ltd. was Resumed by JP Morgan to “Overweight” on Feb 25, 2016. Barclays Resumed Mellanox Technologies Ltd. on Feb 25, 2016 to “Overweight”, Price Target of the shares are set at $58.
Mellanox Technologies Ltd. opened for trading at $53.52 and hit $54.16 on the upside on Monday, eventually ending the session at $54.02, with a gain of 0.37% or 0.2 points. The heightened volatility saw the trading volume jump to 5,14,570 shares. Company has a market cap of $2,557 M.
In a different news, on Mar 24, 2016, Yakov (jacob) Shulman (Chief Financial Officer) sold 2,750 shares at $55.00 per share price. According to the SEC, on Mar 2, 2016, Eyal Waldman (President and CEO) sold 17,140 shares at $51.01 per share price. On Mar 2, 2016, Clifton Thomas Weatherford (director) sold 6,261 shares at $50.90 per share price, according to the Form-4 filing with the securities and exchange commission.
Mellanox Technologies Ltd. is a fabless semiconductor company. The Company designs manufactures and sells interconnect products and solutions based on the InfiniBand and Ethernet standards. Its products facilitate data transmission between servers storage systems communications infrastructure equipment and other embedded systems. Its products include integrated circuits (ICs) adapter cards switch systems cables modules software services and accessories for networking solution focused on computing storage and communication applications used in multiple markets including high-performance computing Web 2.0 storage financial services enterprise data center and cloud. Its InfiniBand products include adapter ICs and cards (ConnectX and Connect-IB product family) and switch ICs (InfiniScale SwitchX SwitchX-2 and Switch-IB product families) and systems gateway ICs (BridgeX product family) and gateway systems long-haul systems (MetroX) software cables and modules.