Bank of America Corp DE raised its position in shares of MaxLinear, Inc (NASDAQ:MXL - Free Report) by 6.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 641,034 shares of the semiconductor company's stock after acquiring an additional 41,119 shares during the period. Bank of America Corp DE owned approximately 0.72% of MaxLinear worth $11,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of MXL. Royal Bank of Canada lifted its position in MaxLinear by 3.1% during the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company's stock valued at $789,000 after purchasing an additional 2,204 shares during the last quarter. AQR Capital Management LLC grew its position in MaxLinear by 56.0% in the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company's stock worth $3,218,000 after acquiring an additional 106,355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in MaxLinear by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company's stock worth $515,000 after acquiring an additional 2,043 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in MaxLinear by 0.4% during the first quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company's stock worth $5,813,000 after acquiring an additional 2,039 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in MaxLinear by 23.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company's stock valued at $1,980,000 after purchasing an additional 35,152 shares during the period. 90.79% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently commented on MXL. Benchmark initiated coverage on MaxLinear in a report on Wednesday, May 27th. They issued a "buy" rating and a $125.00 target price for the company. Roth Capital increased their price target on MaxLinear from $60.00 to $100.00 and gave the company a "buy" rating in a report on Friday, July 24th. Needham & Company LLC raised their price target on MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Loop Capital raised shares of MaxLinear from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $17.00 to $75.00 in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company lifted their price target on shares of MaxLinear from $42.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $85.00.
View Our Latest Report on MaxLinear
MaxLinear Trading Up 2.0%
Shares of NASDAQ MXL opened at $66.61 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $82.17 and a two-hundred day simple moving average of $57.01. The firm has a market cap of $6.04 billion, a PE ratio of -55.97 and a beta of 3.95. MaxLinear, Inc has a twelve month low of $12.77 and a twelve month high of $128.30.
MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The business had revenue of $168.85 million for the quarter, compared to the consensus estimate of $164.64 million. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The business's revenue was up 55.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 EPS. Analysts expect that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.
Insider Buying and Selling at MaxLinear
In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the transaction, the director owned 55,252 shares of the company's stock, valued at $5,801,460. This represents a 16.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 602,454 shares of company stock valued at $51,589,671. Corporate insiders own 7.70% of the company's stock.
MaxLinear Profile
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Free Report)
MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company's product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.
MaxLinear's semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.
Further Reading
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