Virginia Retirement Systems ET AL bought a new position in MaxLinear Inc. (NYSE:MXL) during the second quarter, Holdings Channel reports. The fund bought 60,700 shares of the company’s stock, valued at approximately $1,091,000. Virginia Retirement Systems ET AL owned approximately 0.10% of MaxLinear at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the company. Commonwealth Equity Services Inc acquired a new stake in shares of MaxLinear during the first quarter worth about $386,000. Virginia Retirement System acquired a new stake in shares of MaxLinear during the first quarter worth about $1,143,000. TIAA CREF Investment Management LLC raised its stake in shares of MaxLinear by 31.0% in the first quarter. TIAA CREF Investment Management LLC now owns 214,405 shares of the company’s stock worth $3,966,000 after buying an additional 50,777 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of MaxLinear by 1.3% in the first quarter. Teachers Advisors Inc. now owns 78,817 shares of the company’s stock worth $1,458,000 after buying an additional 974 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of MaxLinear during the first quarter worth about $333,000. 75.94% of the stock is currently owned by institutional investors.
Shares of MaxLinear Inc. (NYSE:MXL) opened at 20.27 on Friday. MaxLinear Inc. has a 52 week low of $12.03 and a 52 week high of $22.50. The company has a market cap of $1.30 billion, a P/E ratio of 36.00 and a beta of 0.32. The firm has a 50-day moving average of $19.03 and a 200 day moving average of $19.01.
MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.06. MaxLinear had a net margin of 8.72% and a return on equity of 35.97%. The company had revenue of $101.70 million for the quarter, compared to the consensus estimate of $101.94 million. During the same period last year, the firm posted $0.21 EPS. MaxLinear’s revenue for the quarter was up 43.6% on a year-over-year basis. Equities analysts expect that MaxLinear Inc. will post $1.74 EPS for the current fiscal year.
A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $21.00 price objective (up previously from $20.00) on shares of MaxLinear in a research report on Sunday, July 10th. Zacks Investment Research upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, July 21st. Deutsche Bank AG cut their price objective on MaxLinear from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. Finally, Stifel Nicolaus cut their price objective on MaxLinear from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $21.00.
In other MaxLinear news, VP Brendan Walsh sold 12,500 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $18.04, for a total transaction of $225,500.00. Following the transaction, the vice president now directly owns 162,210 shares of the company’s stock, valued at approximately $2,926,268.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.48% of the company’s stock.
MaxLinear Company Profile
MaxLinear, Inc is a provider of integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communications and data center, metro, and long-haul transport network applications. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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