California State Teachers Retirement System Reduces Position in MaxLinear, Inc $MXL

California State Teachers Retirement System cut its stake in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 5.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,567 shares of the semiconductor company's stock after selling 5,473 shares during the quarter. California State Teachers Retirement System owned approximately 0.11% of MaxLinear worth $12,619,533 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new stake in MaxLinear in the second quarter valued at $32,000. Wedmont Private Capital purchased a new position in MaxLinear during the 2nd quarter valued at about $458,000. HB Wealth Management LLC bought a new position in shares of MaxLinear in the second quarter worth about $299,000. Nykredit A S acquired a new position in MaxLinear during the second quarter worth $422,000. Finally, Triumph Capital Management acquired a new stake in MaxLinear during the 2nd quarter worth $1,996,000. Hedge funds and other institutional investors own 90.79% of the company's stock.

MaxLinear Price Performance

Shares of MXL traded up $2.51 on Tuesday, hitting $67.30. The company's stock had a trading volume of 1,038,112 shares, compared to its average volume of 3,090,561. The company has a market capitalization of $6.10 billion, a PE ratio of -56.62 and a beta of 3.93. The company has a 50 day moving average price of $72.19 and a 200 day moving average price of $62.43. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15. MaxLinear, Inc has a fifty-two week low of $12.77 and a fifty-two week high of $128.30.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The company had revenue of $168.85 million during the quarter, compared to the consensus estimate of $164.64 million. During the same quarter last year, the firm earned $0.02 earnings per share. The company's revenue was up 55.2% on a year-over-year basis. On average, research analysts anticipate that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MXL. Wall Street Zen raised MaxLinear from a "hold" rating to a "buy" rating in a research note on Sunday, July 26th. Weiss Ratings restated a "sell (d-)" rating on shares of MaxLinear in a research note on Friday, July 17th. Roth Capital upped their price objective on MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Stifel Nicolaus increased their price objective on shares of MaxLinear from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Finally, Benchmark began coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They issued a "buy" rating and a $125.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $88.64.

Insiders Place Their Bets

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.70% of the company's stock.

MaxLinear Profile

MaxLinear, Inc is a fabless semiconductor company that designs and develops high-performance analog and mixed-signal integrated circuits. Its products are used in broadband communications, wired and wireless infrastructure, data center, networking, and industrial applications.

The company's portfolio includes solutions for broadband access and connectivity, including cable and fiber-optic infrastructure, Ethernet and high-speed interconnects, optical communications, power management, interface products, and embedded processors.

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