California State Teachers Retirement System raised its position in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 12,029.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,619,533 shares of the semiconductor company's stock after purchasing an additional 12,515,493 shares during the period. California State Teachers Retirement System owned 13.92% of MaxLinear worth $1,615,679,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new stake in shares of MaxLinear in the second quarter worth $32,000. Carolina Wealth Advisors LLC purchased a new stake in shares of MaxLinear in the 2nd quarter valued at about $47,000. Global Retirement Partners LLC purchased a new stake in shares of MaxLinear in the 2nd quarter valued at about $56,000. State of Wyoming bought a new stake in shares of MaxLinear during the 2nd quarter valued at about $126,000. Finally, CoreCap Advisors LLC bought a new stake in shares of MaxLinear during the 2nd quarter valued at about $134,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.
MaxLinear Price Performance
MXL opened at $74.57 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The stock has a market capitalization of $6.76 billion, a PE ratio of -62.66 and a beta of 3.93. The stock's 50 day moving average price is $72.81 and its 200-day moving average price is $61.79. MaxLinear, Inc has a 52-week low of $12.77 and a 52-week high of $128.30.
MaxLinear (NASDAQ:MXL - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The business had revenue of $168.85 million for the quarter, compared to analysts' expectations of $164.64 million. During the same quarter in the previous year, the business posted $0.02 earnings per share. The firm's revenue for the quarter was up 55.2% compared to the same quarter last year. On average, equities research analysts predict that MaxLinear, Inc will post 0.78 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on MXL shares. Wells Fargo & Company raised their target price on shares of MaxLinear from $42.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, July 20th. Benchmark initiated coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They issued a "buy" rating and a $125.00 price target for the company. Susquehanna increased their price target on shares of MaxLinear from $45.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Northland Securities set a $110.00 price objective on shares of MaxLinear in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC lifted their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, MaxLinear has an average rating of "Hold" and an average target price of $85.00.
Check Out Our Latest Stock Analysis on MXL
Insider Transactions at MaxLinear
In related news, CEO Kishore Seendripu sold 351,454 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.70% of the stock is currently owned by company insiders.
MaxLinear Company Profile
(
Free Report)
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.
Further Reading
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