Creative Planning decreased its position in shares of MaxLinear, Inc. (NYSE:MXL) by 37.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,909 shares of the semiconductor company’s stock after selling 20,000 shares during the period. Creative Planning’s holdings in MaxLinear were worth $674,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. OppenheimerFunds Inc. increased its position in MaxLinear by 29.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 13,990 shares of the semiconductor company’s stock worth $218,000 after buying an additional 3,146 shares during the period. Virginia Retirement Systems ET AL increased its position in MaxLinear by 18.6% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 28,100 shares of the semiconductor company’s stock worth $438,000 after buying an additional 4,400 shares during the period. Rhumbline Advisers increased its position in MaxLinear by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 147,605 shares of the semiconductor company’s stock worth $2,301,000 after buying an additional 4,797 shares during the period. Sei Investments Co. increased its position in MaxLinear by 23.2% during the 2nd quarter. Sei Investments Co. now owns 36,308 shares of the semiconductor company’s stock worth $566,000 after buying an additional 6,849 shares during the period. Finally, Legal & General Group Plc increased its position in MaxLinear by 6.6% during the 2nd quarter. Legal & General Group Plc now owns 133,623 shares of the semiconductor company’s stock worth $2,089,000 after buying an additional 8,241 shares during the period. Hedge funds and other institutional investors own 94.47% of the company’s stock.
Shares of NYSE MXL opened at $19.84 on Tuesday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.69. MaxLinear, Inc. has a 52 week low of $14.87 and a 52 week high of $28.06. The firm has a market capitalization of $1.39 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.51 and a beta of 0.87.
MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. MaxLinear had a positive return on equity of 15.35% and a negative net margin of 11.18%. The company had revenue of $85.00 million for the quarter, compared to analysts’ expectations of $85.01 million. During the same quarter last year, the business earned $0.39 earnings per share. MaxLinear’s revenue was down 25.2% on a year-over-year basis. As a group, equities analysts anticipate that MaxLinear, Inc. will post 0.67 EPS for the current year.
In related news, CEO Kishore Seendripu purchased 27,100 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were bought at an average price of $18.47 per share, for a total transaction of $500,537.00. Following the completion of the transaction, the chief executive officer now owns 130,474 shares of the company’s stock, valued at $2,409,854.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.47% of the stock is currently owned by company insiders.
Several research firms have weighed in on MXL. Zacks Investment Research cut MaxLinear from a “hold” rating to a “sell” rating in a research report on Saturday. ValuEngine upgraded MaxLinear from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 9th. Needham & Company LLC decreased their price target on MaxLinear from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. Stifel Nicolaus decreased their price target on MaxLinear from $31.00 to $25.00 and set a “$17.41” rating on the stock in a research report on Thursday, July 19th. Finally, UBS Group cut MaxLinear from a “positive” rating to a “neutral” rating in a research report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. MaxLinear has an average rating of “Hold” and an average price target of $23.83.
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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