Glenmede Trust Co. NA Purchases 15,072 Shares of MaxLinear, Inc $MXL

Glenmede Trust Co. NA grew its position in shares of MaxLinear, Inc (NASDAQ:MXL) by 66.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 37,836 shares of the semiconductor company’s stock after acquiring an additional 15,072 shares during the period. Glenmede Trust Co. NA’s holdings in MaxLinear were worth $658,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. grew its stake in MaxLinear by 419.9% in the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock worth $37,467,000 after purchasing an additional 1,736,141 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in MaxLinear by 582.7% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 861,000 shares of the semiconductor company’s stock worth $15,007,000 after purchasing an additional 734,875 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in MaxLinear by 27.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock valued at $41,054,000 after buying an additional 628,719 shares during the period. Defiance ETFs LLC purchased a new position in MaxLinear during the fourth quarter valued at $10,944,000. Finally, Vanguard Group Inc. boosted its holdings in shares of MaxLinear by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock valued at $232,279,000 after buying an additional 605,903 shares in the last quarter. Institutional investors own 90.79% of the company’s stock.

Insider Buying and Selling

In related news, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the sale, the director directly owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. This represents a 16.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.70% of the company’s stock.

MaxLinear Trading Up 6.8%

MaxLinear stock opened at $74.98 on Friday. MaxLinear, Inc has a 12 month low of $12.77 and a 12 month high of $128.30. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of -63.01 and a beta of 3.95. The business’s fifty day simple moving average is $84.21 and its two-hundred day simple moving average is $53.24. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $168.85 million during the quarter, compared to the consensus estimate of $164.64 million. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The company’s revenue was up 55.2% on a year-over-year basis. During the same period last year, the company earned $0.02 earnings per share. As a group, equities analysts predict that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Susquehanna upped their target price on shares of MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Benchmark started coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They set a “buy” rating and a $125.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Stifel Nicolaus upped their price objective on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MaxLinear presently has a consensus rating of “Hold” and a consensus target price of $85.00.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.