First Mercantile Trust Co. boosted its position in shares of MaxLinear Inc. (NYSE:MXL) by 28.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,190 shares of the company’s stock after buying an additional 6,595 shares during the period. First Mercantile Trust Co.’s holdings in MaxLinear were worth $542,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MXL. Teacher Retirement System of Texas raised its position in MaxLinear by 22.9% in the second quarter. Teacher Retirement System of Texas now owns 7,770 shares of the company’s stock worth $140,000 after buying an additional 1,446 shares during the last quarter. Acrospire Investment Management LLC raised its position in MaxLinear by 356.0% in the second quarter. Acrospire Investment Management LLC now owns 11,272 shares of the company’s stock worth $203,000 after buying an additional 8,800 shares during the last quarter. Winslow Evans & Crocker Inc. purchased a new position in MaxLinear during the second quarter worth about $227,000. Meeder Asset Management Inc. raised its position in MaxLinear by 11.9% in the second quarter. Meeder Asset Management Inc. now owns 15,098 shares of the company’s stock worth $273,000 after buying an additional 1,602 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new position in MaxLinear during the second quarter worth about $288,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

MaxLinear Inc. (NYSE:MXL) opened at 19.85 on Friday. The stock’s 50 day moving average is $19.00 and its 200-day moving average is $18.91. MaxLinear Inc. has a 12-month low of $11.24 and a 12-month high of $22.50. The company has a market capitalization of $1.27 billion, a P/E ratio of 35.26 and a beta of 0.32.

MaxLinear (NYSE:MXL) last issued its earnings results on Monday, August 8th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.06. The business had revenue of $101.70 million for the quarter, compared to the consensus estimate of $101.94 million. MaxLinear had a net margin of 8.72% and a return on equity of 35.97%. The firm’s revenue for the quarter was up 43.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. On average, equities analysts predict that MaxLinear Inc. will post $1.74 earnings per share for the current fiscal year.

MXL has been the topic of a number of research analyst reports. Deutsche Bank AG lowered their target price on shares of MaxLinear from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price target on shares of MaxLinear in a report on Tuesday, August 9th. Stifel Nicolaus reduced their price target on shares of MaxLinear from $26.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. Finally, Zacks Investment Research raised shares of MaxLinear from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, July 21st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. MaxLinear has an average rating of “Buy” and an average price target of $21.00.

In related news, VP Brendan Walsh sold 12,500 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $18.04, for a total transaction of $225,500.00. Following the transaction, the vice president now directly owns 162,210 shares in the company, valued at $2,926,268.40. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 12.48% of the company’s stock.

About MaxLinear

MaxLinear, Inc is a provider of integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communications and data center, metro, and long-haul transport network applications. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.

5 Day Chart for NYSE:MXL

Want to see what other hedge funds are holding MXL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MaxLinear Inc. (NYSE:MXL).

Receive News & Ratings for MaxLinear Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MaxLinear Inc. and related companies with MarketBeat.com's FREE daily email newsletter.