Victory Capital Management Inc. lowered its position in shares of MaxLinear Inc. (NYSE:MXL) by 51.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,799 shares of the company’s stock after selling 28,000 shares during the period. Victory Capital Management Inc.’s holdings in MaxLinear were worth $481,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Mesirow Financial Investment Management Equity Management bought a new stake in shares of MaxLinear during the second quarter worth $16,626,000. Bogle Investment Management L P DE increased its position in MaxLinear by 55.0% in the first quarter. Bogle Investment Management L P DE now owns 703,803 shares of the company’s stock worth $13,020,000 after buying an additional 249,832 shares in the last quarter. Panagora Asset Management Inc. increased its position in MaxLinear by 97.1% in the first quarter. Panagora Asset Management Inc. now owns 364,374 shares of the company’s stock worth $6,741,000 after buying an additional 179,478 shares in the last quarter. Insight Capital Research & Management Inc. increased its position in MaxLinear by 37.8% in the first quarter. Insight Capital Research & Management Inc. now owns 536,506 shares of the company’s stock worth $9,925,000 after buying an additional 147,079 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. acquired a new position in MaxLinear during the second quarter worth about $2,601,000. 75.94% of the stock is currently owned by hedge funds and other institutional investors.
MaxLinear Inc. (NYSE:MXL) traded up 2.01% on Friday, hitting $20.27. 977,182 shares of the company traded hands. The stock’s 50-day moving average is $19.03 and its 200 day moving average is $19.01. MaxLinear Inc. has a 12 month low of $12.03 and a 12 month high of $22.50. The stock has a market cap of $1.30 billion, a PE ratio of 36.00 and a beta of 0.32.
MaxLinear (NYSE:MXL) last issued its quarterly earnings data 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. MaxLinear had a net margin of 8.72% and a return on equity of 35.97%. The company had revenue of $101.70 million for the quarter, compared to the consensus estimate of $101.94 million. During the same period last year, the firm posted $0.21 EPS. MaxLinear’s revenue for the quarter was up 43.6% on a year-over-year basis. Equities research analysts expect that MaxLinear Inc. will post $1.74 earnings per share for the current fiscal year.
MXL has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $21.00 target price (up from $20.00) on shares of MaxLinear in a research report on Sunday, July 10th. Zacks Investment Research upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, July 21st. Deutsche Bank AG decreased their target price on shares of MaxLinear from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. Finally, Stifel Nicolaus decreased their target price on shares of MaxLinear from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $21.00.
In other MaxLinear news, VP Brendan Walsh sold 12,500 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 162,210 shares of the company’s stock, valued at approximately $2,926,268.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.48% of the company’s stock.
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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