Wells Fargo & Company MN reduced its position in shares of MaxLinear, Inc (NYSE:MXL) by 13.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,026,173 shares of the semiconductor company’s stock after selling 160,821 shares during the quarter. Wells Fargo & Company MN owned about 1.54% of MaxLinear worth $24,371,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. D.A. Davidson & CO. increased its holdings in MaxLinear by 0.9% during the 2nd quarter. D.A. Davidson & CO. now owns 5,298 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 45 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in MaxLinear by 9.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,283 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 460 shares in the last quarter. LS Investment Advisors LLC increased its holdings in MaxLinear by 59.4% during the 3rd quarter. LS Investment Advisors LLC now owns 7,638 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 2,846 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in MaxLinear during the 2nd quarter worth approximately $192,000. Finally, GSA Capital Partners LLP bought a new stake in MaxLinear during the 2nd quarter worth approximately $208,000. 88.66% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on MXL. Zacks Investment Research raised MaxLinear from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. BidaskClub lowered MaxLinear from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $32.00 price objective on shares of MaxLinear in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $30.75.
MaxLinear (NYSE:MXL) last released its earnings results on Tuesday, November 7th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.06. The company had revenue of $113.58 million during the quarter, compared to analyst estimates of $115.77 million. MaxLinear had a return on equity of 20.96% and a net margin of 4.73%. MaxLinear’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. analysts anticipate that MaxLinear, Inc will post 1.09 EPS for the current year.
In other MaxLinear news, insider Daniel Omeniuk bought 250,000 shares of MaxLinear stock in a transaction dated Monday, September 25th. The stock was bought at an average cost of $0.19 per share, with a total value of $47,500.00. Corporate insiders own 11.92% of the company’s stock.
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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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