MaxLinear, Inc (MXL) Stake Raised by Jennison Associates LLC
Jennison Associates LLC raised its stake in MaxLinear, Inc (NYSE:MXL) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 830,154 shares of the semiconductor company’s stock after buying an additional 7,587 shares during the period. Jennison Associates LLC owned approximately 1.27% of MaxLinear worth $23,153,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. LS Investment Advisors LLC acquired a new stake in shares of MaxLinear during the second quarter valued at $134,000. Ameritas Investment Partners Inc. purchased a new position in shares of MaxLinear during the first quarter worth about $135,000. Envestnet Asset Management Inc. boosted its position in shares of MaxLinear by 10.8% in the first quarter. Envestnet Asset Management Inc. now owns 6,404 shares of the semiconductor company’s stock worth $179,000 after buying an additional 624 shares during the last quarter. KCG Holdings Inc. purchased a new position in shares of MaxLinear during the first quarter worth about $212,000. Finally, Karp Capital Management Corp purchased a new position in shares of MaxLinear during the first quarter worth about $217,000. Institutional investors and hedge funds own 86.26% of the company’s stock.
Shares of MaxLinear, Inc (NYSE MXL) opened at 21.72 on Friday. The stock has a 50 day moving average price of $24.81 and a 200 day moving average price of $27.29. The firm has a market cap of $1.45 billion, a PE ratio of 39.28 and a beta of 0.61. MaxLinear, Inc has a 52 week low of $17.82 and a 52 week high of $32.47.
MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The business had revenue of $104.18 million during the quarter, compared to the consensus estimate of $107.77 million. MaxLinear had a net margin of 9.95% and a return on equity of 22.29%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. Equities analysts expect that MaxLinear, Inc will post $1.39 earnings per share for the current year.
A number of equities analysts have issued reports on the company. TheStreet cut MaxLinear from a “b” rating to a “c+” rating in a report on Thursday, August 10th. Roth Capital lowered their target price on MaxLinear from $38.00 to $33.50 and set a “buy” rating for the company in a report on Wednesday, August 9th. Stifel Nicolaus lowered their target price on MaxLinear from $34.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Deutsche Bank AG lowered their target price on MaxLinear from $32.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Finally, Zacks Investment Research raised MaxLinear from a “sell” rating to a “hold” rating and set a $37.00 target price for the company in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $31.36.
In other MaxLinear news, VP Madhukar Reddy sold 52,979 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $31.32, for a total value of $1,659,302.28. Following the completion of the sale, the vice president now owns 226,671 shares of the company’s stock, valued at $7,099,335.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.92% of the stock is owned by company insiders.
MaxLinear Company Profile
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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