BlackRock Inc. raised its holdings in shares of MaxLinear, Inc. (NYSE:MXL) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,763,036 shares of the semiconductor company’s stock after purchasing an additional 201,733 shares during the quarter. BlackRock Inc. owned 11.52% of MaxLinear worth $176,610,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. AlphaMark Advisors LLC increased its stake in MaxLinear by 28.3% during the 1st quarter. AlphaMark Advisors LLC now owns 40,353 shares of the semiconductor company’s stock valued at $918,000 after purchasing an additional 8,900 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in MaxLinear by 62.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,599 shares of the semiconductor company’s stock valued at $173,000 after purchasing an additional 2,911 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in MaxLinear by 9.8% during the 1st quarter. Thrivent Financial for Lutherans now owns 41,023 shares of the semiconductor company’s stock valued at $933,000 after purchasing an additional 3,656 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in MaxLinear by 6.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 306,033 shares of the semiconductor company’s stock valued at $6,963,000 after purchasing an additional 18,477 shares in the last quarter. Finally, Swiss National Bank increased its stake in MaxLinear by 1.9% during the 1st quarter. Swiss National Bank now owns 115,573 shares of the semiconductor company’s stock valued at $2,629,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 91.88% of the company’s stock.
MaxLinear opened at $16.87 on Thursday, according to MarketBeat. The company has a current ratio of 3.00, a quick ratio of 2.32 and a debt-to-equity ratio of 0.79. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.87 and a beta of 0.50. MaxLinear, Inc. has a 1 year low of $16.76 and a 1 year high of $30.23.
MaxLinear (NYSE:MXL) last posted its quarterly earnings data on Tuesday, May 8th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The firm had revenue of $110.83 million for the quarter, compared to the consensus estimate of $111.91 million. MaxLinear had a negative net margin of 3.57% and a positive return on equity of 19.99%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. analysts expect that MaxLinear, Inc. will post 1 EPS for the current fiscal year.
A number of analysts have commented on MXL shares. Stifel Nicolaus decreased their price target on shares of MaxLinear from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, May 9th. Zacks Investment Research upgraded shares of MaxLinear from a “sell” rating to a “hold” rating in a research note on Wednesday, April 18th. Deutsche Bank downgraded shares of MaxLinear from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Wednesday, May 9th. Roth Capital reaffirmed a “neutral” rating and set a $20.00 price objective (down from $27.00) on shares of MaxLinear in a report on Monday, June 11th. Finally, William Blair assumed coverage on shares of MaxLinear in a report on Monday, June 4th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $28.20.
In other MaxLinear news, insider Connie H. Kwong sold 1,500 shares of MaxLinear stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $19.30, for a total transaction of $28,950.00. Following the transaction, the insider now directly owns 5,609 shares of the company’s stock, valued at approximately $108,253.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.47% of the stock is owned by insiders.
MaxLinear Company Profile
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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