MaxLinear, Inc $MXL Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its holdings in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 11.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 573,420 shares of the semiconductor company's stock after selling 71,938 shares during the period. HighTower Advisors LLC owned about 0.63% of MaxLinear worth $73,415,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of MaxLinear in the second quarter valued at approximately $1,050,000. California State Teachers Retirement System lifted its position in shares of MaxLinear by 12,029.5% during the 2nd quarter. California State Teachers Retirement System now owns 12,619,533 shares of the semiconductor company's stock valued at $1,615,679,000 after buying an additional 12,515,493 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in MaxLinear in the 2nd quarter valued at $32,000. Wedmont Private Capital acquired a new stake in MaxLinear in the 2nd quarter valued at $458,000. Finally, HB Wealth Management LLC purchased a new stake in MaxLinear in the 2nd quarter worth $299,000. Hedge funds and other institutional investors own 90.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Benchmark initiated coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They issued a "buy" rating and a $125.00 target price on the stock. Roth Capital raised their price target on shares of MaxLinear from $60.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Wells Fargo & Company lifted their price objective on MaxLinear from $42.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, July 20th. Northland Securities set a $110.00 target price on MaxLinear in a report on Wednesday, June 3rd. Finally, Susquehanna lifted their price target on MaxLinear from $45.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $85.00.

Insider Buying and Selling at MaxLinear

In other MaxLinear 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 value of $30,207,471.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 7.70% of the company's stock.

MaxLinear Price Performance

Shares of NASDAQ MXL opened at $62.74 on Tuesday. The stock has a market cap of $5.69 billion, a PE ratio of -52.72 and a beta of 3.93. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. MaxLinear, Inc has a 12-month low of $12.77 and a 12-month high of $128.30. The company has a 50-day moving average of $75.70 and a 200 day moving average of $60.63.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $168.85 million for the quarter, compared to analysts' expectations of $164.64 million. During the same period in the previous year, the firm posted $0.02 EPS. The business's revenue for the quarter was up 55.2% compared to the same quarter last year. As a group, sell-side analysts predict that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.

About MaxLinear

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.

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