Bank of New York Mellon Corp cut its position in shares of MaxLinear, Inc (NYSE:MXL) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,271,166 shares of the semiconductor company’s stock after selling 68,232 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.91% of MaxLinear worth $30,189,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of MaxLinear by 94.6% during the second quarter. BlackRock Inc. now owns 6,503,231 shares of the semiconductor company’s stock worth $181,375,000 after buying an additional 3,160,655 shares in the last quarter. Vanguard Group Inc. grew its holdings in MaxLinear by 23.5% in the second quarter. Vanguard Group Inc. now owns 5,095,203 shares of the semiconductor company’s stock valued at $142,105,000 after purchasing an additional 970,197 shares during the period. Macquarie Group Ltd. grew its holdings in MaxLinear by 4.1% in the second quarter. Macquarie Group Ltd. now owns 2,680,745 shares of the semiconductor company’s stock valued at $74,766,000 after purchasing an additional 105,484 shares during the period. State Street Corp grew its holdings in MaxLinear by 22.6% in the second quarter. State Street Corp now owns 1,682,431 shares of the semiconductor company’s stock valued at $46,921,000 after purchasing an additional 309,762 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in MaxLinear by 23.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,671,325 shares of the semiconductor company’s stock valued at $39,694,000 after purchasing an additional 315,100 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.
MaxLinear, Inc (NYSE MXL) traded down $0.16 during trading on Monday, reaching $24.81. 273,200 shares of the company were exchanged, compared to its average volume of 760,264. MaxLinear, Inc has a 52-week low of $20.38 and a 52-week high of $32.47. The stock has a market capitalization of $1,661.23, a P/E ratio of 21.39 and a beta of 0.47. The company has a current ratio of 2.23, a quick ratio of 1.58 and a debt-to-equity ratio of 0.93.
MaxLinear (NYSE:MXL) last released its earnings results on Tuesday, November 7th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. MaxLinear had a net margin of 4.73% and a return on equity of 20.96%. The firm had revenue of $113.58 million during the quarter, compared to the consensus estimate of $115.77 million. During the same period in the previous year, the firm earned $0.43 earnings per share. MaxLinear’s revenue was up 17.9% compared to the same quarter last year. analysts anticipate that MaxLinear, Inc will post 1.09 EPS for the current fiscal year.
In other MaxLinear news, insider Daniel Omeniuk sold 2,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $0.16, for a total transaction of $320,000.00. 11.92% of the stock is owned by insiders.
MXL has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of MaxLinear from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Zacks Investment Research upgraded shares of MaxLinear from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $32.00 target price on shares of MaxLinear in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the stock. MaxLinear presently has an average rating of “Buy” and a consensus target price of $30.75.
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MaxLinear Company Profile
MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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