Stifel Financial Corp grew its position in shares of MaxLinear, Inc (NYSE:MXL) by 232.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 314,315 shares of the semiconductor company’s stock after purchasing an additional 219,799 shares during the period. Stifel Financial Corp owned about 0.47% of MaxLinear worth $7,420,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in MaxLinear by 45.7% during the second quarter. Bank of New York Mellon Corp now owns 1,339,398 shares of the semiconductor company’s stock worth $37,355,000 after purchasing an additional 419,925 shares during the last quarter. BlackRock Inc. lifted its stake in MaxLinear by 94.6% during the second quarter. BlackRock Inc. now owns 6,503,231 shares of the semiconductor company’s stock worth $181,375,000 after purchasing an additional 3,160,655 shares during the last quarter. Rhumbline Advisers lifted its stake in MaxLinear by 68.8% during the second quarter. Rhumbline Advisers now owns 109,300 shares of the semiconductor company’s stock worth $3,048,000 after purchasing an additional 44,541 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in MaxLinear by 30.1% during the second quarter. UBS Asset Management Americas Inc. now owns 37,159 shares of the semiconductor company’s stock worth $1,036,000 after purchasing an additional 8,601 shares during the last quarter. Finally, Pier Capital LLC bought a new stake in MaxLinear during the second quarter worth about $5,473,000. 88.66% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Daniel Omeniuk sold 760,000 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $0.15, for a total value of $114,000.00. Insiders own 11.92% of the company’s stock.
MaxLinear (NYSE:MXL) last released its earnings results on Tuesday, November 7th. The semiconductor company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. MaxLinear had a return on equity of 20.96% and a net margin of 4.73%. The company had revenue of $113.58 million during the quarter, compared to analyst estimates of $115.77 million. During the same quarter in the previous year, the company posted $0.43 EPS. MaxLinear’s revenue for the quarter was up 17.9% on a year-over-year basis. sell-side analysts anticipate that MaxLinear, Inc will post 1.09 earnings per share for the current year.
Several equities research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price target on shares of MaxLinear in a research note on Wednesday, November 8th. Zacks Investment Research raised MaxLinear from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research note on Tuesday, November 14th. Finally, BidaskClub lowered MaxLinear from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the stock. MaxLinear presently has a consensus rating of “Buy” and a consensus price target of $30.75.
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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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