Rhumbline Advisers boosted its holdings in shares of MaxLinear, Inc (NYSE:MXL) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,673 shares of the semiconductor company’s stock after purchasing an additional 9,373 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of MaxLinear worth $2,818,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of MXL. Aperio Group LLC boosted its position in MaxLinear by 446.1% during the second quarter. Aperio Group LLC now owns 42,154 shares of the semiconductor company’s stock worth $1,176,000 after purchasing an additional 34,435 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of MaxLinear by 58.5% in the second quarter. Russell Investments Group Ltd. now owns 49,459 shares of the semiconductor company’s stock valued at $1,379,000 after acquiring an additional 18,246 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in shares of MaxLinear in the second quarter valued at approximately $344,000. Great West Life Assurance Co. Can lifted its position in shares of MaxLinear by 1,133.1% in the second quarter. Great West Life Assurance Co. Can now owns 76,178 shares of the semiconductor company’s stock valued at $2,124,000 after acquiring an additional 70,000 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of MaxLinear by 11.1% in the second quarter. Bessemer Group Inc. now owns 20,004 shares of the semiconductor company’s stock valued at $558,000 after acquiring an additional 2,004 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.
In related news, insider Daniel Omeniuk sold 2,000,000 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $0.16, for a total value of $320,000.00. 11.92% of the stock is currently owned by company insiders.
MaxLinear, Inc (NYSE MXL) opened at $24.81 on Friday. The firm has a market capitalization of $1,661.23, a P/E ratio of 21.39, a PEG ratio of 1.14 and a beta of 0.47. MaxLinear, Inc has a 1 year low of $20.38 and a 1 year high of $32.47. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.23 and a quick ratio of 1.58.
MaxLinear (NYSE:MXL) last released its earnings results on Tuesday, November 7th. The semiconductor company reported $0.39 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $115.77 million. During the same quarter last year, the business posted $0.43 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. sell-side analysts expect that MaxLinear, Inc will post 1.09 EPS for the current year.
MXL has been the topic of several research reports. BidaskClub downgraded MaxLinear from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Zacks Investment Research upgraded MaxLinear from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $32.00 target price on shares of MaxLinear in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $30.75.
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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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