Alliancebernstein L.P. lowered its position in MaxLinear, Inc (NYSE:MXL) by 37.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 132,169 shares of the semiconductor company’s stock after selling 77,990 shares during the period. Alliancebernstein L.P. owned about 0.20% of MaxLinear worth $3,707,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its position in shares of MaxLinear by 4.2% in the fourth quarter. New York State Teachers Retirement System now owns 5,000 shares of the semiconductor company’s stock worth $109,000 after buying an additional 200 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of MaxLinear by 28.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,780 shares of the semiconductor company’s stock worth $125,000 after buying an additional 1,267 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of MaxLinear during the first quarter worth about $135,000. Karp Capital Management Corp bought a new position in shares of MaxLinear during the first quarter worth about $217,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of MaxLinear by 24.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,260 shares of the semiconductor company’s stock worth $224,000 after buying an additional 2,036 shares during the last quarter. 83.82% of the stock is owned by hedge funds and other institutional investors.
MaxLinear, Inc (MXL) traded up 0.19% on Friday, hitting $26.22. The stock had a trading volume of 359,340 shares. The firm has a market cap of $1.72 billion, a PE ratio of 36.37 and a beta of 0.63. MaxLinear, Inc has a 12-month low of $17.13 and a 12-month high of $32.47. The company’s 50 day moving average is $28.05 and its 200 day moving average is $27.60.
MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. MaxLinear had a net margin of 13.12% and a return on equity of 26.77%. The firm had revenue of $88.84 million for the quarter, compared to analysts’ expectations of $88.02 million. During the same period in the previous year, the firm posted $0.47 EPS. The company’s revenue for the quarter was down 13.5% on a year-over-year basis. On average, equities research analysts expect that MaxLinear, Inc will post $1.44 EPS for the current fiscal year.
Several research analysts have recently weighed in on MXL shares. Stifel Nicolaus upped their target price on MaxLinear from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Deutsche Bank AG dropped their price target on MaxLinear from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Zacks Investment Research cut MaxLinear from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Needham & Company LLC dropped their price target on MaxLinear from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, July 17th. Finally, BidaskClub cut MaxLinear from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $31.50.
In other news, VP Michael J. Lachance sold 40,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $31.12, for a total transaction of $1,244,800.00. Following the transaction, the vice president now directly owns 84,734 shares in the company, valued at approximately $2,636,922.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Connie H. Kwong sold 1,218 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $31.49, for a total transaction of $38,354.82. Following the completion of the transaction, the insider now owns 425 shares in the company, valued at approximately $13,383.25. The disclosure for this sale can be found here. Insiders have sold a total of 276,004 shares of company stock worth $8,638,836 over the last 90 days. 11.92% of the stock is owned by company insiders.
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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