Karp Capital Management Corp Purchases New Stake in MaxLinear, Inc (MXL)
Karp Capital Management Corp bought a new stake in shares of MaxLinear, Inc (NYSE:MXL) during the first quarter, according to its most recent 13F filing with the SEC. The firm bought 7,719 shares of the semiconductor company’s stock, valued at approximately $217,000.
Other hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System boosted its stake in MaxLinear by 4.2% in the fourth quarter. New York State Teachers Retirement System now owns 5,000 shares of the semiconductor company’s stock worth $109,000 after buying an additional 200 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in MaxLinear by 28.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,780 shares of the semiconductor company’s stock worth $125,000 after buying an additional 1,267 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in MaxLinear by 24.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,260 shares of the semiconductor company’s stock worth $224,000 after buying an additional 2,036 shares during the last quarter. Campbell Newman Asset Management Inc. bought a new stake in MaxLinear during the first quarter worth $237,000. Finally, Suntrust Banks Inc. bought a new stake in MaxLinear during the first quarter worth $239,000. 83.91% of the stock is currently owned by hedge funds and other institutional investors.
MaxLinear, Inc (NYSE:MXL) traded up 0.75% during trading on Friday, reaching $24.24. 981,861 shares of the company were exchanged. The firm’s 50 day moving average is $27.86 and its 200 day moving average is $27.70. MaxLinear, Inc has a 52-week low of $17.13 and a 52-week high of $32.47. The stock has a market capitalization of $1.59 billion, a PE ratio of 33.62 and a beta of 0.61.
MaxLinear (NYSE:MXL) last issued its earnings results on Tuesday, May 9th. The semiconductor company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. MaxLinear had a return on equity of 26.77% and a net margin of 13.12%. The firm had revenue of $88.84 million for the quarter, compared to analyst estimates of $88.02 million. During the same period last year, the company earned $0.47 earnings per share. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. Analysts expect that MaxLinear, Inc will post $1.43 EPS for the current year.
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A number of equities analysts have recently issued reports on the stock. Deutsche Bank AG lowered their target price on shares of MaxLinear from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Needham & Company LLC lowered their target price on shares of MaxLinear from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, July 17th. Stifel Nicolaus raised their target price on shares of MaxLinear from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. BidaskClub lowered shares of MaxLinear from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Zacks Investment Research upgraded shares of MaxLinear from a “sell” rating to a “hold” rating and set a $37.00 target price on the stock in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $31.50.
In other MaxLinear news, insider Connie H. Kwong sold 1,724 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $31.06, for a total value of $53,547.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Donald E. Schrock sold 30,766 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $30.92, for a total value of $951,284.72. Following the completion of the sale, the director now directly owns 35,486 shares in the company, valued at $1,097,227.12. The disclosure for this sale can be found here. Insiders sold 276,004 shares of company stock worth $8,638,836 over the last ninety days. 11.92% of the stock is owned by corporate insiders.
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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