Glenmede Trust Co. NA lowered its stake in MaxLinear, Inc. (NYSE:MXL) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,779,768 shares of the semiconductor company’s stock after selling 19,694 shares during the quarter. Glenmede Trust Co. NA owned approximately 2.66% of MaxLinear worth $47,020,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Meadow Creek Investment Management LLC purchased a new position in MaxLinear in the 4th quarter worth about $216,000. Cubist Systematic Strategies LLC purchased a new position in MaxLinear in the 3rd quarter worth about $205,000. Amalgamated Bank purchased a new position in MaxLinear in the 4th quarter worth about $238,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in MaxLinear in the 3rd quarter worth about $229,000. Finally, Stratos Wealth Partners LTD. purchased a new position in MaxLinear in the 3rd quarter worth about $285,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on MXL. Zacks Investment Research lowered MaxLinear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Roth Capital restated a “buy” rating and set a $33.00 price objective on shares of MaxLinear in a research report on Friday, December 29th. Finally, Needham & Company LLC decreased their price objective on MaxLinear from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $31.20.
Shares of MaxLinear, Inc. (NYSE MXL) opened at $24.70 on Friday. MaxLinear, Inc. has a 1 year low of $20.38 and a 1 year high of $32.47. The company has a market capitalization of $1,675.11, a PE ratio of -164.66 and a beta of 0.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.94 and a current ratio of 2.64.
MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. MaxLinear had a positive return on equity of 20.70% and a negative net margin of 2.19%. The firm had revenue of $113.72 million during the quarter, compared to analyst estimates of $114.01 million. equities analysts predict that MaxLinear, Inc. will post 1.26 earnings per share for the current fiscal year.
In other news, VP Brendan Walsh sold 25,018 shares of MaxLinear stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $28.00, for a total transaction of $700,504.00. Following the completion of the sale, the vice president now directly owns 155,441 shares in the company, valued at approximately $4,352,348. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Curtis Ling sold 22,321 shares of MaxLinear stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $22.90, for a total value of $511,150.90. Following the sale, the insider now owns 912,117 shares of the company’s stock, valued at $20,887,479.30. The disclosure for this sale can be found here. Insiders have sold a total of 97,339 shares of company stock valued at $2,379,405 over the last 90 days. Corporate insiders own 11.92% of the company’s stock.
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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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