Macquarie Group Ltd. Boosts Stake in MaxLinear Inc. (MXL)
Macquarie Group Ltd. boosted its stake in MaxLinear Inc. (NYSE:MXL) by 29.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 745,744 shares of the company’s stock after buying an additional 170,945 shares during the period. Macquarie Group Ltd. owned about 1.16% of MaxLinear worth $13,408,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Lord Abbett & CO. LLC boosted its stake in shares of MaxLinear by 253.9% in the second quarter. Lord Abbett & CO. LLC now owns 2,394,055 shares of the company’s stock valued at $43,045,000 after buying an additional 1,717,539 shares during the last quarter. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of MaxLinear during the second quarter valued at approximately $16,626,000. Numeric Investors LLC boosted its stake in shares of MaxLinear by 433.2% in the second quarter. Numeric Investors LLC now owns 739,048 shares of the company’s stock valued at $13,288,000 after buying an additional 600,448 shares during the last quarter. Teachers Advisors Inc. boosted its stake in shares of MaxLinear by 527.4% in the second quarter. Teachers Advisors Inc. now owns 494,469 shares of the company’s stock valued at $8,891,000 after buying an additional 415,652 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of MaxLinear by 15.0% in the second quarter. Vanguard Group Inc. now owns 2,289,026 shares of the company’s stock valued at $41,158,000 after buying an additional 299,312 shares during the last quarter. Hedge funds and other institutional investors own 78.93% of the company’s stock.
MaxLinear Inc. (NYSE:MXL) traded down 2.76% during trading on Wednesday, hitting $20.79. The stock had a trading volume of 494,128 shares. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 30.57 and a beta of 0.85. MaxLinear Inc. has a one year low of $12.67 and a one year high of $22.85. The stock’s 50-day moving average is $20.31 and its 200 day moving average is $19.83.
MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.04. The firm earned $96.30 million during the quarter, compared to analysts’ expectations of $16.14 million. MaxLinear had a return on equity of 34.63% and a net margin of 10.72%. MaxLinear’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 earnings per share. Equities analysts anticipate that MaxLinear Inc. will post $1.77 earnings per share for the current year.
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Several analysts have issued reports on MXL shares. Needham & Company LLC restated a “buy” rating and issued a $21.00 target price on shares of MaxLinear in a report on Tuesday, August 9th. Stifel Nicolaus dropped their target price on MaxLinear from $26.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. Zacks Investment Research upgraded MaxLinear from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a report on Wednesday, October 12th. Deutsche Bank AG dropped their target price on MaxLinear from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. Finally, Chardan Capital restated a “buy” rating on shares of MaxLinear in a report on Wednesday, November 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $22.79.
In related news, insider Connie H. Kwong sold 2,009 shares of MaxLinear stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $21.51, for a total transaction of $43,213.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.48% of the company’s stock.
MaxLinear, Inc is a provider of integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communications and data center, metro, and long-haul transport network applications. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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