Municipal Employees Retirement System of Michigan grew its holdings in shares of MaxLinear, Inc (NYSE:MXL) by 84.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,790 shares of the semiconductor company’s stock after purchasing an additional 10,440 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in MaxLinear were worth $541,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in MXL. LS Investment Advisors LLC purchased a new stake in shares of MaxLinear during the 2nd quarter valued at $134,000. D.A. Davidson & CO. grew its stake in shares of MaxLinear by 0.9% during the 2nd quarter. D.A. Davidson & CO. now owns 5,298 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 45 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of MaxLinear by 9.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,283 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 460 shares during the period. Pinebridge Investments L.P. bought a new position in shares of MaxLinear during the 2nd quarter worth $192,000. Finally, GSA Capital Partners LLP bought a new position in shares of MaxLinear during the 2nd quarter worth $208,000. 88.66% of the stock is owned by hedge funds and other institutional investors.
In other MaxLinear news, insider Daniel Omeniuk sold 760,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $0.15, for a total value of $114,000.00. 11.92% of the stock is owned by company insiders.
MaxLinear (NYSE:MXL) last issued its earnings results on Tuesday, November 7th. The semiconductor company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. MaxLinear had a return on equity of 20.96% and a net margin of 4.73%. The business had revenue of $113.58 million during the quarter, compared to the consensus estimate of $115.77 million. During the same quarter last year, the company earned $0.43 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. equities research analysts predict that MaxLinear, Inc will post 1.05 EPS for the current fiscal year.
MXL has been the subject of several research reports. BidaskClub downgraded MaxLinear from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Zacks Investment Research upgraded MaxLinear from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price target on shares of MaxLinear in a research note on Wednesday, November 8th. Deutsche Bank cut their price target on MaxLinear from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. Finally, Roth Capital cut their price target on MaxLinear from $38.00 to $33.50 and set a “buy” rating for the company in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $30.36.
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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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