8,900 Shares in MaxLinear, Inc $MXL Bought by Revere Asset Management Inc

Revere Asset Management Inc acquired a new position in MaxLinear, Inc (NASDAQ:MXL) during the second quarter, Holdings Channel.com reports. The firm acquired 8,900 shares of the semiconductor company’s stock, valued at approximately $1,139,000. MaxLinear makes up approximately 0.4% of Revere Asset Management Inc’s portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MXL. Larson Financial Group LLC increased its position in shares of MaxLinear by 161.7% during the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 875 shares during the last quarter. International Assets Investment Management LLC purchased a new position in MaxLinear in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC boosted its holdings in MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 217 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in MaxLinear during the 2nd quarter valued at approximately $32,000. Finally, KBC Group NV acquired a new stake in MaxLinear during the 1st quarter valued at approximately $35,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Stock Performance

MXL traded down $9.78 during trading hours on Monday, hitting $64.79. 3,066,878 shares of the stock were exchanged, compared to its average volume of 3,102,480. The stock has a 50-day simple moving average of $72.81 and a 200-day simple moving average of $62.10. MaxLinear, Inc has a 12 month low of $12.77 and a 12 month high of $128.30. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of -54.45 and a beta of 3.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm had revenue of $168.85 million during the quarter, compared to analyst estimates of $164.64 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The firm’s revenue for the quarter was up 55.2% compared to the same quarter last year. Analysts anticipate that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Insider Activity at MaxLinear

In other news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research report on Friday, July 17th. Needham & Company LLC raised their price target on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Roth Capital lifted their price target on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Wells Fargo & Company lifted their price target on shares of MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Finally, Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $88.64.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs and develops high-performance analog and mixed-signal integrated circuits. Its products are used in broadband communications, wired and wireless infrastructure, data center, networking, and industrial applications.

The company’s portfolio includes solutions for broadband access and connectivity, including cable and fiber-optic infrastructure, Ethernet and high-speed interconnects, optical communications, power management, interface products, and embedded processors.