Glenmede Trust Co. NA raised its stake in shares of MaxLinear, Inc. (NYSE:MXL) by 14.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,028,228 shares of the semiconductor company’s stock after buying an additional 248,460 shares during the period. Glenmede Trust Co. NA owned about 2.98% of MaxLinear worth $31,620,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of MaxLinear by 11.4% in the 2nd quarter. BlackRock Inc. now owns 8,651,323 shares of the semiconductor company’s stock valued at $134,873,000 after purchasing an additional 888,287 shares in the last quarter. FMR LLC increased its stake in shares of MaxLinear by 15.7% in the 2nd quarter. FMR LLC now owns 4,205,480 shares of the semiconductor company’s stock valued at $65,563,000 after purchasing an additional 570,185 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of MaxLinear by 9.8% in the 2nd quarter. Macquarie Group Ltd. now owns 3,834,679 shares of the semiconductor company’s stock valued at $59,783,000 after purchasing an additional 343,563 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of MaxLinear by 23.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,594,339 shares of the semiconductor company’s stock valued at $40,446,000 after purchasing an additional 485,825 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of MaxLinear by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,496,425 shares of the semiconductor company’s stock valued at $23,330,000 after purchasing an additional 126,812 shares in the last quarter. Institutional investors and hedge funds own 94.88% of the company’s stock.
MXL stock traded down $0.28 during trading on Friday, hitting $16.41. The stock had a trading volume of 606,586 shares, compared to its average volume of 740,243. The company has a current ratio of 2.62, a quick ratio of 2.06 and a debt-to-equity ratio of 0.76. MaxLinear, Inc. has a twelve month low of $15.39 and a twelve month high of $28.06. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.48 and a beta of 0.91.
MaxLinear (NYSE:MXL) last posted its quarterly earnings data on Tuesday, August 7th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. MaxLinear had a positive return on equity of 19.00% and a negative net margin of 9.37%. The company had revenue of $101.53 million for the quarter. As a group, equities analysts forecast that MaxLinear, Inc. will post 0.67 EPS for the current fiscal year.
In other news, CEO Kishore Seendripu acquired 27,100 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were bought at an average cost of $18.47 per share, for a total transaction of $500,537.00. Following the acquisition, the chief executive officer now owns 130,474 shares in the company, valued at approximately $2,409,854.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.47% of the company’s stock.
MXL has been the subject of several recent analyst reports. Needham & Company LLC cut their price target on MaxLinear from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, June 29th. Zacks Investment Research upgraded MaxLinear from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded MaxLinear from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. Finally, Stifel Nicolaus lowered their price objective on MaxLinear from $31.00 to $25.00 and set a “$17.41” rating on the stock in a report on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. MaxLinear has a consensus rating of “Hold” and an average price target of $25.00.
MaxLinear, Inc provides radio-frequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.
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