Ameriprise Financial Inc. increased its stake in MaxLinear, Inc (NYSE:MXL) by 306.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 402,828 shares of the semiconductor company’s stock after buying an additional 303,622 shares during the quarter. Ameriprise Financial Inc. owned 0.62% of MaxLinear worth $11,235,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of MaxLinear by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 4,125,006 shares of the semiconductor company’s stock worth $115,707,000 after buying an additional 191,408 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of MaxLinear by 74,544.4% in the 1st quarter. BlackRock Inc. now owns 3,342,576 shares of the semiconductor company’s stock worth $93,758,000 after buying an additional 3,338,098 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of MaxLinear by 6.8% in the 1st quarter. Macquarie Group Ltd. now owns 2,575,261 shares of the semiconductor company’s stock worth $72,236,000 after buying an additional 164,089 shares during the last quarter. State Street Corp boosted its holdings in shares of MaxLinear by 2.3% in the 1st quarter. State Street Corp now owns 1,372,669 shares of the semiconductor company’s stock worth $38,501,000 after buying an additional 30,582 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of MaxLinear by 45.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,339,398 shares of the semiconductor company’s stock worth $37,355,000 after buying an additional 419,925 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors.

Shares of MaxLinear, Inc (NYSE MXL) opened at 23.61 on Wednesday. The stock has a market capitalization of $1.54 billion, a P/E ratio of 25.95 and a beta of 0.58. MaxLinear, Inc has a 12-month low of $18.26 and a 12-month high of $32.47. The firm’s 50-day moving average is $22.56 and its 200 day moving average is $26.47.

MaxLinear (NYSE:MXL) last released its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ 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 return on equity of 22.29% and a net margin of 9.95%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. On average, equities research analysts forecast that MaxLinear, Inc will post $1.39 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “MaxLinear, Inc (MXL) Shares Bought by Ameriprise Financial Inc.” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. & international trademark & copyright law. The original version of this news story can be read at https://www.thecerbatgem.com/2017/10/11/maxlinear-inc-mxl-shares-bought-by-ameriprise-financial-inc.html.

A number of brokerages recently weighed in on MXL. TheStreet downgraded shares of MaxLinear from a “b” rating to a “c+” rating in a report on Thursday, August 10th. Stifel Nicolaus cut their price target on shares of MaxLinear from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Roth Capital cut their price target on shares of MaxLinear from $38.00 to $33.50 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Deutsche Bank AG cut their price target on shares of MaxLinear from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Finally, BidaskClub downgraded shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Friday, June 30th. One 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 company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $30.42.

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.

Institutional Ownership by Quarter for MaxLinear (NYSE:MXL)

Receive News & Stock Ratings for MaxLinear Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MaxLinear Inc and related stocks with our FREE daily email newsletter.