Public Employees Retirement Association of Colorado raised its position in shares of MaxLinear, Inc. (NYSE:MXL) by 12.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669,544 shares of the semiconductor company’s stock after buying an additional 72,298 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in MaxLinear were worth $15,694,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its holdings in shares of MaxLinear by 41.7% in the 4th quarter. Deutsche Bank AG now owns 369,890 shares of the semiconductor company’s stock worth $6,509,000 after purchasing an additional 108,920 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of MaxLinear by 2.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 21,872 shares of the semiconductor company’s stock worth $512,000 after purchasing an additional 536 shares during the period. Legal & General Group Plc boosted its holdings in shares of MaxLinear by 0.3% in the 4th quarter. Legal & General Group Plc now owns 145,927 shares of the semiconductor company’s stock worth $2,570,000 after purchasing an additional 455 shares during the period. Amalgamated Bank purchased a new position in shares of MaxLinear in the 4th quarter worth approximately $177,000. Finally, Norges Bank purchased a new position in shares of MaxLinear in the 4th quarter worth approximately $23,105,000. Institutional investors and hedge funds own 90.86% of the company’s stock.
In related news, VP Michael J. Lachance sold 36,470 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $21.65, for a total transaction of $789,575.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Kishore Seendripu sold 21,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $20.79, for a total value of $436,590.00. Following the sale, the chairman now directly owns 12,466 shares of the company’s stock, valued at $259,168.14. The disclosure for this sale can be found here. Insiders have sold a total of 95,297 shares of company stock valued at $2,054,920 over the last three months. 9.97% of the stock is owned by corporate insiders.
MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.11. MaxLinear had a positive return on equity of 7.16% and a negative net margin of 6.09%. The firm had revenue of $82.50 million during the quarter, compared to analyst estimates of $82.58 million. During the same period last year, the company earned $0.34 EPS. MaxLinear’s quarterly revenue was down 18.7% compared to the same quarter last year. On average, equities research analysts anticipate that MaxLinear, Inc. will post 0.45 earnings per share for the current fiscal year.
MXL has been the subject of a number of recent research reports. Needham & Company LLC cut MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. They noted that the move was a valuation call. Roth Capital dropped their target price on MaxLinear from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, June 4th. Deutsche Bank set a $25.00 target price on MaxLinear and gave the stock a “hold” rating in a report on Friday, July 26th. Wells Fargo & Co began coverage on MaxLinear in a report on Tuesday, May 14th. They issued a “market perform” rating for the company. Finally, Zacks Investment Research raised MaxLinear from a “sell” rating to a “hold” rating in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $20.80.
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.
Further Reading: What is the 52-week high/low?
Want to see what other hedge funds are holding MXL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MaxLinear, Inc. (NYSE:MXL).
Receive News & Ratings for MaxLinear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MaxLinear and related companies with MarketBeat.com's FREE daily email newsletter.