Wells Fargo & Company MN reduced its stake in shares of MaxLinear, Inc (NYSE:MXL) by 4.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,186,994 shares of the semiconductor company’s stock after selling 58,588 shares during the period. Wells Fargo & Company MN owned approximately 1.81% of MaxLinear worth $33,105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MXL. Russell Investments Group Ltd. lifted its holdings in shares of MaxLinear by 95.5% during the 1st quarter. Russell Investments Group Ltd. now owns 31,213 shares of the semiconductor company’s stock worth $874,000 after acquiring an additional 15,250 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of MaxLinear by 15.5% during the 1st quarter. First Trust Advisors LP now owns 113,447 shares of the semiconductor company’s stock worth $3,182,000 after acquiring an additional 15,189 shares during the last quarter. US Bancorp DE lifted its holdings in shares of MaxLinear by 9.8% during the 1st quarter. US Bancorp DE now owns 45,608 shares of the semiconductor company’s stock worth $1,279,000 after acquiring an additional 4,083 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of MaxLinear by 37.9% during the 1st quarter. Bank of New York Mellon Corp now owns 919,473 shares of the semiconductor company’s stock worth $25,791,000 after acquiring an additional 252,865 shares during the last quarter. Finally, Suntrust Banks Inc. bought a new stake in shares of MaxLinear during the 1st quarter worth $239,000. 85.52% of the stock is owned by institutional investors.

MaxLinear, Inc (NYSE:MXL) opened at 22.70 on Thursday. The stock has a market cap of $1.51 billion, a PE ratio of 41.05 and a beta of 0.61. The firm has a 50 day moving average of $22.40 and a 200-day moving average of $26.80. MaxLinear, Inc has a 52-week low of $18.26 and a 52-week high of $32.47.

MaxLinear (NYSE:MXL) last released its earnings results on Tuesday, August 8th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The firm had revenue of $104.18 million during the quarter, compared to analyst estimates of $107.77 million. MaxLinear had a net margin of 9.95% and a return on equity of 22.29%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.50 EPS. Equities analysts anticipate that MaxLinear, Inc will post $1.39 earnings per share for the current fiscal year.

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A number of equities analysts recently commented on MXL shares. Deutsche Bank AG decreased their target price on shares of MaxLinear from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Roth Capital decreased their target price on shares of MaxLinear from $38.00 to $33.50 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Stifel Nicolaus decreased their target price on shares of MaxLinear from $34.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Needham & Company LLC decreased their target price on shares of MaxLinear from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, July 17th. Finally, TheStreet cut shares of MaxLinear from a “b” rating to a “c+” rating in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $31.36.

MaxLinear Company Profile

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.

Institutional Ownership by Quarter for MaxLinear (NYSE:MXL)

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