Sei Investments Co. raised its stake in MaxLinear, Inc. (NYSE:MXL) by 23.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,308 shares of the semiconductor company’s stock after acquiring an additional 6,849 shares during the period. Sei Investments Co. owned approximately 0.05% of MaxLinear worth $566,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MXL. Fox Run Management L.L.C. bought a new position in shares of MaxLinear during the second quarter valued at $161,000. Envestnet Asset Management Inc. lifted its holdings in shares of MaxLinear by 62.1% during the first quarter. Envestnet Asset Management Inc. now owns 7,599 shares of the semiconductor company’s stock valued at $173,000 after purchasing an additional 2,911 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of MaxLinear during the second quarter valued at $204,000. Profund Advisors LLC lifted its holdings in shares of MaxLinear by 34.4% during the first quarter. Profund Advisors LLC now owns 12,509 shares of the semiconductor company’s stock valued at $285,000 after purchasing an additional 3,205 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of MaxLinear during the first quarter valued at $394,000. 94.89% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Kishore Seendripu bought 27,100 shares of the stock in a transaction on Friday, August 10th. The shares were bought at an average price of $18.47 per share, with a total value of $500,537.00. Following the completion of the acquisition, the chief executive officer now owns 130,474 shares in the company, valued at $2,409,854.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.47% of the stock is currently owned by corporate insiders.
MaxLinear (NYSE:MXL) last posted its earnings results on Tuesday, August 7th. The semiconductor company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. MaxLinear had a positive return on equity of 19.00% and a negative net margin of 9.37%. The company had revenue of $101.53 million for the quarter. equities analysts predict that MaxLinear, Inc. will post 0.67 earnings per share for the current year.
A number of brokerages have recently issued reports on MXL. Zacks Investment Research downgraded MaxLinear from a “hold” rating to a “sell” rating in a report on Saturday, July 21st. Needham & Company LLC lowered their price target on MaxLinear from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, June 29th. Stifel Nicolaus lowered their price target on MaxLinear from $31.00 to $25.00 and set a “$17.41” rating on the stock in a report on Thursday, July 19th. William Blair began coverage on MaxLinear in a report on Monday, June 4th. They set an “outperform” rating on the stock. Finally, ValuEngine raised MaxLinear from a “strong sell” rating to a “sell” rating in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. MaxLinear currently has an average rating of “Hold” and a consensus target price of $25.00.
MaxLinear, Inc provides radio-frequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.
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