State of Wisconsin Investment Board cut its stake in MaxLinear, Inc (NYSE:MXL) by 26.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 618,427 shares of the semiconductor company’s stock after selling 225,000 shares during the quarter. State of Wisconsin Investment Board owned about 0.93% of MaxLinear worth $14,688,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of MaxLinear by 84.0% in the third quarter. Victory Capital Management Inc. now owns 92,402 shares of the semiconductor company’s stock valued at $2,195,000 after purchasing an additional 42,170 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of MaxLinear in the third quarter valued at $436,000. New England Research & Management Inc. grew its position in shares of MaxLinear by 124.4% in the third quarter. New England Research & Management Inc. now owns 62,050 shares of the semiconductor company’s stock valued at $1,474,000 after purchasing an additional 34,400 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of MaxLinear by 23.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,671,325 shares of the semiconductor company’s stock valued at $39,694,000 after purchasing an additional 315,100 shares in the last quarter. Finally, Nationwide Fund Advisors grew its position in shares of MaxLinear by 50.9% in the third quarter. Nationwide Fund Advisors now owns 97,188 shares of the semiconductor company’s stock valued at $2,308,000 after purchasing an additional 32,785 shares in the last quarter. Institutional investors own 84.71% of the company’s stock.
Several equities analysts have recently weighed in on MXL shares. BidaskClub cut MaxLinear from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Deutsche Bank AG dropped their price objective on MaxLinear from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Zacks Investment Research lowered MaxLinear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Needham & Company LLC dropped their price objective on MaxLinear from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, July 17th. Finally, Roth Capital dropped their price objective on MaxLinear from $38.00 to $33.50 and set a “buy” rating for the company in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $30.36.
In other MaxLinear news, insider Daniel Omeniuk sold 2,000,000 shares of MaxLinear stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $0.16, for a total transaction of $320,000.00. Insiders own 11.92% of the company’s stock.
Shares of MaxLinear, Inc (NYSE MXL) opened at $26.00 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.58 and a current ratio of 2.23. MaxLinear, Inc has a 52 week low of $19.22 and a 52 week high of $32.47. The stock has a market capitalization of $1,738.23, a price-to-earnings ratio of 22.38, a P/E/G ratio of 1.24 and a beta of 0.47.
MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $113.58 million during the quarter, compared to analyst estimates of $115.77 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue was up 17.9% compared to the same quarter last year. equities analysts expect that MaxLinear, Inc will post 1.05 EPS for the current fiscal year.
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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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