California Public Employees Retirement System raised its position in MaxLinear Inc. (NYSE:MXL) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 171,300 shares of the company’s stock after buying an additional 2,900 shares during the period. California Public Employees Retirement System owned approximately 0.27% of MaxLinear worth $3,080,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services Inc purchased a new position in MaxLinear during the first quarter worth about $386,000. Virginia Retirement System purchased a new position in MaxLinear during the first quarter worth about $1,143,000. TIAA CREF Investment Management LLC boosted its position in MaxLinear by 31.0% in the first quarter. TIAA CREF Investment Management LLC now owns 214,405 shares of the company’s stock worth $3,966,000 after buying an additional 50,777 shares during the period. Teachers Advisors Inc. boosted its position in MaxLinear by 1.3% in the first quarter. Teachers Advisors Inc. now owns 78,817 shares of the company’s stock worth $1,458,000 after buying an additional 974 shares during the period. Finally, Prudential Financial Inc. purchased a new position in MaxLinear during the first quarter worth about $333,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.
MaxLinear Inc. (NYSE:MXL) traded up 2.88% during mid-day trading on Tuesday, reaching $19.68. 443,352 shares of the company’s stock were exchanged. MaxLinear Inc. has a 12 month low of $11.24 and a 12 month high of $22.50. The stock has a 50-day moving average of $18.87 and a 200-day moving average of $18.96. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 34.96 and a beta of 0.32.
MaxLinear (NYSE:MXL) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.06. The business had revenue of $101.70 million for the quarter, compared to analyst estimates of $101.94 million. MaxLinear had a net margin of 8.72% and a return on equity of 35.97%. The firm’s revenue for the quarter was up 43.6% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Analysts anticipate that MaxLinear Inc. will post $1.74 earnings per share for the current year.
A number of research firms have recently issued reports on MXL. Stifel Nicolaus cut their target price on shares of MaxLinear from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, August 9th. Deutsche Bank AG reiterated a “buy” rating and issued a $22.00 target price on shares of MaxLinear in a research note on Wednesday, June 15th. Needham & Company LLC restated a “buy” rating and issued a $21.00 price objective on shares of MaxLinear in a research report on Tuesday, August 9th. Finally, Zacks Investment Research cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $21.00.
In related news, VP Brendan Walsh sold 12,500 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $18.04, for a total transaction of $225,500.00. Following the sale, the vice president now owns 162,210 shares in the company, valued at approximately $2,926,268.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.48% of the company’s stock.
MaxLinear Company Profile
MaxLinear, Inc is a provider of integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communications and data center, metro, and long-haul transport network applications. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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