MaxLinear, Inc. (NYSE:MXL) Shares Bought by First Mercantile Trust Co.

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First Mercantile Trust Co. grew its position in shares of MaxLinear, Inc. (NYSE:MXL) by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,110 shares of the semiconductor company’s stock after acquiring an additional 1,037 shares during the quarter. First Mercantile Trust Co.’s holdings in MaxLinear were worth $249,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in MXL. BlackRock Inc. boosted its holdings in shares of MaxLinear by 11.4% during the second quarter. BlackRock Inc. now owns 10,233,194 shares of the semiconductor company’s stock valued at $239,866,000 after acquiring an additional 1,049,438 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of MaxLinear during the second quarter valued at $6,586,000. Morgan Stanley boosted its holdings in shares of MaxLinear by 1,909.7% during the second quarter. Morgan Stanley now owns 285,052 shares of the semiconductor company’s stock valued at $6,681,000 after acquiring an additional 270,868 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of MaxLinear during the second quarter valued at $2,782,000. Finally, Panagora Asset Management Inc. raised its stake in shares of MaxLinear by 309.9% during the second quarter. Panagora Asset Management Inc. now owns 143,388 shares of the semiconductor company’s stock valued at $3,361,000 after purchasing an additional 108,408 shares in the last quarter. 90.54% of the stock is owned by institutional investors.

Shares of NYSE MXL opened at $20.30 on Friday. MaxLinear, Inc. has a fifty-two week low of $15.93 and a fifty-two week high of $28.70. The firm’s 50-day simple moving average is $21.39 and its 200 day simple moving average is $22.44. The company has a quick ratio of 2.02, a current ratio of 2.62 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.44 billion, a P/E ratio of 26.03, a P/E/G ratio of 4.35 and a beta of 1.23.

MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Thursday, October 24th. The semiconductor company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. MaxLinear had a negative net margin of 3.43% and a positive return on equity of 8.02%. The firm had revenue of $80.00 million for the quarter, compared to analysts’ expectations of $80.04 million. During the same period in the previous year, the business earned $0.19 earnings per share. MaxLinear’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that MaxLinear, Inc. will post 0.37 earnings per share for the current fiscal year.

In other MaxLinear news, CEO Kishore Seendripu sold 10,400 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $20.11, for a total value of $209,144.00. Following the sale, the chief executive officer now directly owns 20,677 shares in the company, valued at $415,814.47. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brendan Walsh sold 15,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $20.92, for a total transaction of $313,800.00. Following the completion of the sale, the vice president now owns 168,286 shares in the company, valued at $3,520,543.12. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 45,175 shares of company stock worth $998,488 and sold 91,800 shares worth $1,925,347. 9.97% of the stock is currently owned by insiders.

A number of brokerages recently weighed in on MXL. Zacks Investment Research cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Roth Capital set a $21.00 price objective on shares of MaxLinear and gave the company a “hold” rating in a research note on Friday, October 25th. ValuEngine upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Friday, October 25th. Finally, Deutsche Bank set a $25.00 price objective on shares of MaxLinear and gave the company a “hold” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $21.83.

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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Institutional Ownership by Quarter for MaxLinear (NYSE:MXL)

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