Pinebridge Investments L.P. Invests $192,000 in MaxLinear, Inc (MXL) Stock
Pinebridge Investments L.P. bought a new stake in MaxLinear, Inc (NYSE:MXL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,900 shares of the semiconductor company’s stock, valued at approximately $192,000.
A number of other hedge funds have also recently bought and sold shares of the business. GSA Capital Partners LLP bought a new position in MaxLinear in the second quarter valued at about $208,000. UBS Asset Management Americas Inc. lifted its holdings in MaxLinear by 30.1% in the second quarter. UBS Asset Management Americas Inc. now owns 37,159 shares of the semiconductor company’s stock valued at $1,036,000 after acquiring an additional 8,601 shares during the period. Nicholas Investment Partners LP lifted its holdings in MaxLinear by 54.3% in the second quarter. Nicholas Investment Partners LP now owns 124,476 shares of the semiconductor company’s stock valued at $3,473,000 after acquiring an additional 43,813 shares during the period. Thrivent Financial For Lutherans bought a new position in MaxLinear in the second quarter valued at about $883,000. Finally, Profund Advisors LLC bought a new position in MaxLinear in the second quarter valued at about $287,000. 85.52% of the stock is currently owned by institutional investors.
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MXL has been the topic of a number of recent research reports. Deutsche Bank AG lowered their target price on MaxLinear from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Roth Capital lowered their target price on MaxLinear from $38.00 to $33.50 and set a “buy” rating on the stock 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 on the stock in a report on Wednesday, August 9th. Needham & Company LLC lowered their target price on MaxLinear from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, July 17th. Finally, TheStreet downgraded MaxLinear from a “b” rating to a “c+” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $30.42.
Shares of MaxLinear, Inc (NYSE:MXL) opened at 23.44 on Friday. The firm has a 50-day moving average price of $22.34 and a 200-day moving average price of $26.53. MaxLinear, Inc has a 12 month low of $18.26 and a 12 month high of $32.47. The stock has a market cap of $1.53 billion, a PE ratio of 25.76 and a beta of 0.58.
MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The business had revenue of $104.18 million during the quarter, compared to analysts’ expectations of $107.77 million. MaxLinear had a return on equity of 22.29% and a net margin of 9.95%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities analysts forecast that MaxLinear, Inc will post $1.39 EPS for the current year.
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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