NGAM Advisors L.P. Sells 9,748 Shares of MaxLinear, Inc (MXL)
NGAM Advisors L.P. reduced its position in shares of MaxLinear, Inc (NYSE:MXL) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,883 shares of the semiconductor company’s stock after selling 9,748 shares during the period. NGAM Advisors L.P.’s holdings in MaxLinear were worth $3,288,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LS Investment Advisors LLC purchased a new position in shares of MaxLinear during the second quarter worth approximately $134,000. Ameritas Investment Partners Inc. purchased a new position in shares of MaxLinear during the first quarter worth approximately $135,000. Envestnet Asset Management Inc. raised its position in shares of MaxLinear by 10.8% in the first quarter. Envestnet Asset Management Inc. now owns 6,404 shares of the semiconductor company’s stock worth $179,000 after buying an additional 624 shares during the last quarter. KCG Holdings Inc. purchased a new position in shares of MaxLinear during the first quarter worth approximately $212,000. Finally, Karp Capital Management Corp purchased a new position in shares of MaxLinear during the first quarter worth approximately $217,000. Hedge funds and other institutional investors own 85.44% of the company’s stock.
MaxLinear, Inc (NYSE:MXL) opened at 22.65 on Thursday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 31.41 and a beta of 0.61. MaxLinear, Inc has a 52-week low of $17.50 and a 52-week high of $32.47. The stock has a 50 day moving average price of $27.12 and a 200 day moving average price of $27.64.
MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. The business had revenue of $104.18 million for the quarter, compared to analysts’ expectations of $107.77 million. MaxLinear had a net margin of 9.95% and a return on equity of 23.01%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Analysts anticipate that MaxLinear, Inc will post $1.42 EPS for the current fiscal year.
A number of research analysts have commented on MXL shares. Roth Capital decreased their price objective on MaxLinear from $38.00 to $33.50 and set a “buy” rating on the stock in a research report on Wednesday. Stifel Nicolaus decreased their price objective on MaxLinear from $34.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday. Zacks Investment Research upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Wednesday, April 12th. Needham & Company LLC increased their price objective on MaxLinear from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Finally, Deutsche Bank AG decreased their price objective on MaxLinear from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $31.36.
In other news, VP Madhukar Reddy sold 60,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $31.68, for a total transaction of $1,900,800.00. Following the transaction, the vice president now owns 245,819 shares of the company’s stock, valued at approximately $7,787,545.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Albert J. Moyer sold 21,149 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $31.86, for a total transaction of $673,807.14. Following the transaction, the director now directly owns 75,857 shares in the company, valued at approximately $2,416,804.02. The disclosure for this sale can be found here. Insiders have sold 276,004 shares of company stock worth $8,638,836 in the last ninety days. Insiders own 11.92% of the company’s stock.
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.
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