Nordea Investment Management AB trimmed its position in MaxLinear, Inc (NYSE:MXL) by 2.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 65,083 shares of the semiconductor company’s stock after selling 1,953 shares during the period. Nordea Investment Management AB owned about 0.10% of MaxLinear worth $1,815,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MXL. Russell Investments Group Ltd. grew its position in MaxLinear by 95.5% in the 1st quarter. Russell Investments Group Ltd. now owns 31,213 shares of the semiconductor company’s stock worth $874,000 after purchasing an additional 15,250 shares in the last quarter. First Trust Advisors LP boosted its stake in MaxLinear by 15.5% in the first quarter. First Trust Advisors LP now owns 113,447 shares of the semiconductor company’s stock valued at $3,182,000 after acquiring an additional 15,189 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in MaxLinear by 37.9% in the first quarter. Bank of New York Mellon Corp now owns 919,473 shares of the semiconductor company’s stock valued at $25,791,000 after acquiring an additional 252,865 shares during the last quarter. Swiss National Bank boosted its stake in MaxLinear by 1.5% in the first quarter. Swiss National Bank now owns 95,673 shares of the semiconductor company’s stock valued at $2,684,000 after acquiring an additional 1,400 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in MaxLinear by 36.3% in the first quarter. UBS Asset Management Americas Inc. now owns 28,558 shares of the semiconductor company’s stock valued at $801,000 after acquiring an additional 7,611 shares during the last quarter. 85.52% of the stock is owned by institutional investors and hedge funds.

MaxLinear, Inc (MXL) opened at 23.44 on Friday. MaxLinear, Inc has a 1-year low of $18.26 and a 1-year high of $32.47. The stock has a market capitalization of $1.53 billion, a PE ratio of 25.76 and a beta of 0.58. The firm has a 50-day moving average of $22.34 and a 200-day moving average of $26.53.

MaxLinear (NYSE:MXL) last announced its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. MaxLinear had a net margin of 9.95% and a return on equity of 22.29%. The firm had revenue of $104.18 million during the quarter, compared to analyst estimates of $107.77 million. During the same period in the previous year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts expect that MaxLinear, Inc will post $1.39 EPS for the current fiscal year.

A number of research analysts have weighed in on MXL shares. Needham & Company LLC boosted their target price on shares of MaxLinear from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, June 9th. BidaskClub cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Stifel Nicolaus boosted their target price on shares of MaxLinear from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Deutsche Bank AG dropped their target price on shares of MaxLinear from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Finally, Zacks Investment Research cut shares of MaxLinear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $30.42.

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About MaxLinear

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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Institutional Ownership by Quarter for MaxLinear (NYSE:MXL)

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