Emerald Acquisition Ltd. bought a new stake in MaxLinear Inc. (NYSE:MXL) during the second quarter, Holdings Channel reports. The fund bought 77,103 shares of the company’s stock, valued at approximately $1,387,000. Emerald Acquisition Ltd. owned approximately 0.12% of MaxLinear as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Winslow Evans & Crocker Inc. purchased a new position in shares of MaxLinear during the second quarter valued at about $227,000. Meeder Asset Management Inc. boosted its position in shares of MaxLinear by 11.9% in the second quarter. Meeder Asset Management Inc. now owns 15,098 shares of the company’s stock valued at $273,000 after buying an additional 1,602 shares in the last quarter. Capital Fund Management S.A. purchased a new position in shares of MaxLinear during the second quarter valued at about $288,000. Prudential Financial Inc. purchased a new position in shares of MaxLinear during the first quarter valued at about $333,000. Finally, Algert Global LLC boosted its position in shares of MaxLinear by 57.7% in the first quarter. Algert Global LLC now owns 20,627 shares of the company’s stock valued at $382,000 after buying an additional 7,547 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.
Shares of MaxLinear Inc. (NYSE:MXL) traded down 1.23% during trading on Wednesday, reaching $20.81. The company’s stock had a trading volume of 669,135 shares. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 36.96 and a beta of 0.48. The company has a 50-day moving average price of $19.17 and a 200-day moving average price of $19.07. MaxLinear Inc. has a one year low of $12.08 and a one year high of $22.50.
MaxLinear (NYSE:MXL) last released its quarterly earnings results on Monday, August 8th. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.06. MaxLinear had a return on equity of 35.97% and a net margin of 8.72%. The company had revenue of $101.70 million for the quarter, compared to analyst estimates of $101.94 million. During the same quarter in the prior year, the firm posted $0.21 EPS. MaxLinear’s quarterly revenue was up 43.6% compared to the same quarter last year. On average, equities research analysts forecast that MaxLinear Inc. will post $1.74 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of MaxLinear from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, August 9th. Deutsche Bank AG reiterated a “buy” rating and issued a $22.00 price target on shares of MaxLinear in a report on Wednesday, June 15th. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price target on shares of MaxLinear in a report on Tuesday, August 9th. Finally, Zacks Investment Research cut shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Friday, August 12th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $21.00.
In related news, VP Brendan Walsh sold 12,500 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $18.04, for a total transaction of $225,500.00. Following the sale, the vice president now owns 162,210 shares in the company, valued at approximately $2,926,268.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.48% of the company’s stock.
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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