Federated Hermes Inc. Buys Shares of 136,875 MaxLinear, Inc (NASDAQ:MXL)

Key Points

• Federated Hermes Inc. acquired a new stake in MaxLinear, Inc. by purchasing 136,875 shares valued at approximately $1.5 million, now holding around 0.16% of the company.
• MaxLinear reported earnings of $0.02 EPS for the last quarter, matching analysts' consensus estimates, with revenue increasing by 18.3% year-over-year to $108.81 million.
• Several analysts have raised their price targets for MaxLinear shares, with Benchmark setting a new target of $25.00 and the current average price target standing at $19.31.

Federated Hermes Inc. acquired a new position in MaxLinear, Inc (NASDAQ:MXL - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 136,875 shares of the semiconductor company's stock, valued at approximately $1,486,000. Federated Hermes Inc. owned approximately 0.16% of MaxLinear at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of MaxLinear by 10.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,355 shares of the semiconductor company's stock worth $275,000 after acquiring an additional 2,309 shares during the period. 1492 Capital Management LLC lifted its position in MaxLinear by 34.2% in the first quarter. 1492 Capital Management LLC now owns 199,286 shares of the semiconductor company's stock worth $2,164,000 after purchasing an additional 50,799 shares during the period. Victory Capital Management Inc. lifted its position in MaxLinear by 30.9% in the first quarter. Victory Capital Management Inc. now owns 1,067,728 shares of the semiconductor company's stock worth $11,596,000 after purchasing an additional 251,797 shares during the period. Larson Financial Group LLC boosted its stake in MaxLinear by 144.3% during the 1st quarter. Larson Financial Group LLC now owns 6,863 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 4,054 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of MaxLinear during the 1st quarter valued at $1,870,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.

MaxLinear Stock Up 0.7%

Shares of MXL stock traded up $0.11 during trading on Thursday, hitting $15.31. 928,008 shares of the company were exchanged, compared to its average volume of 2,009,881. The business's 50-day simple moving average is $14.24 and its 200 day simple moving average is $13.72. MaxLinear, Inc has a twelve month low of $8.35 and a twelve month high of $25.73. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -6.20 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.14 and a current ratio of 1.55.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.02. MaxLinear had a negative net margin of 55.53% and a negative return on equity of 18.16%. The company had revenue of $108.81 million during the quarter, compared to analyst estimates of $104.94 million. During the same quarter last year, the business posted ($0.25) EPS. The company's revenue for the quarter was up 18.3% on a year-over-year basis. As a group, analysts forecast that MaxLinear, Inc will post -0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MXL. Roth Capital set a $11.00 price objective on MaxLinear and gave the company a "neutral" rating in a report on Thursday, April 24th. Susquehanna upped their price target on shares of MaxLinear from $11.00 to $15.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Stifel Nicolaus raised their price objective on shares of MaxLinear from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Benchmark boosted their target price on shares of MaxLinear from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Loop Capital reiterated a "hold" rating and issued a $15.00 target price (up from $10.00) on shares of MaxLinear in a report on Monday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $19.31.

MaxLinear Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.