Thrivent Financial For Lutherans acquired a new stake in MaxLinear, Inc (NYSE:MXL) in the second quarter, according to its most recent filing with the SEC. The fund acquired 31,660 shares of the semiconductor company’s stock, valued at approximately $883,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in MaxLinear by 45.7% in the second quarter. Bank of New York Mellon Corp now owns 1,339,398 shares of the semiconductor company’s stock worth $37,355,000 after purchasing an additional 419,925 shares during the last quarter. Emerald Advisers Inc. PA raised its stake in shares of MaxLinear by 7.2% during the second quarter. Emerald Advisers Inc. PA now owns 464,640 shares of the semiconductor company’s stock valued at $12,959,000 after acquiring an additional 31,105 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of MaxLinear during the first quarter valued at about $217,000. Rhumbline Advisers raised its stake in MaxLinear by 68.8% in the second quarter. Rhumbline Advisers now owns 109,300 shares of the semiconductor company’s stock worth $3,048,000 after buying an additional 44,541 shares in the last quarter. Finally, Pier Capital LLC purchased a new stake in MaxLinear in the second quarter worth about $5,473,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.
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MXL has been the topic of a number of recent analyst reports. Deutsche Bank AG cut their price target on shares of MaxLinear from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. TheStreet downgraded shares of MaxLinear from a “b” rating to a “c+” rating in a research report on Thursday, August 10th. Roth Capital decreased their price objective on shares of MaxLinear from $38.00 to $33.50 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Needham & Company LLC cut their target price on shares of MaxLinear from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, July 17th. Finally, Zacks Investment Research cut shares of MaxLinear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $30.42.
Shares of MaxLinear, Inc (NYSE MXL) opened at 23.35 on Wednesday. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 25.66 and a beta of 0.58. The stock has a 50 day moving average of $22.81 and a 200 day moving average of $26.40. MaxLinear, Inc has a 12-month low of $18.26 and a 12-month high of $32.47.
MaxLinear (NYSE:MXL) last announced its earnings results on Tuesday, August 8th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $104.18 million during the quarter, compared to the consensus estimate of $107.77 million. MaxLinear had a net margin of 9.95% and a return on equity of 22.29%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 EPS. Analysts forecast that MaxLinear, Inc will post $1.39 earnings per share for the current year.
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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