State Board of Administration of Florida Retirement System Sells 203 Shares of MaxLinear Inc. (MXL)
State Board of Administration of Florida Retirement System cut its position in MaxLinear Inc. (NYSE:MXL) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 26,292 shares of the company’s stock after selling 203 shares during the period. State Board of Administration of Florida Retirement System’s holdings in MaxLinear were worth $473,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. BlackRock Fund Advisors boosted its stake in MaxLinear by 2.2% in the first quarter. BlackRock Fund Advisors now owns 1,420,080 shares of the company’s stock worth $26,271,000 after buying an additional 30,423 shares in the last quarter. UBS Group AG raised its position in shares of MaxLinear by 445.6% in the first quarter. UBS Group AG now owns 144,365 shares of the company’s stock worth $2,671,000 after buying an additional 117,903 shares during the last quarter. BlackRock Group LTD raised its position in shares of MaxLinear by 62.1% in the first quarter. BlackRock Group LTD now owns 45,391 shares of the company’s stock worth $839,000 after buying an additional 17,382 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of MaxLinear by 56.9% in the first quarter. UBS Asset Management Americas Inc. now owns 217,167 shares of the company’s stock worth $4,017,000 after buying an additional 78,729 shares during the last quarter. Finally, Commonwealth Equity Services Inc purchased a new position in shares of MaxLinear during the first quarter worth $386,000. 75.94% of the stock is currently owned by institutional investors.
Shares of MaxLinear Inc. (NYSE:MXL) remained flat at $20.90 on Friday. 427,989 shares of the company traded hands. MaxLinear Inc. has a 12-month low of $12.12 and a 12-month high of $22.50. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 37.12 and a beta of 0.48. The firm has a 50 day moving average of $19.39 and a 200-day moving average of $19.11.
MaxLinear (NYSE:MXL) last released its quarterly earnings results on Monday, August 8th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. MaxLinear had a net margin of 8.72% and a return on equity of 35.97%. The firm earned $101.70 million during the quarter, compared to the consensus estimate of $101.94 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The company’s revenue for the quarter was up 43.6% on a year-over-year basis. Analysts expect that MaxLinear Inc. will post $1.74 EPS for the current fiscal year.
A number of research analysts have recently weighed in on MXL shares. Deutsche Bank AG restated a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research report on Wednesday, June 15th. Needham & Company LLC restated a “buy” rating and set a $21.00 price objective (up previously from $20.00) on shares of MaxLinear in a research report on Sunday, July 10th. Zacks Investment Research upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, July 21st. Finally, Stifel Nicolaus cut their price objective on MaxLinear from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $21.00.
In other MaxLinear news, VP Brendan Walsh sold 12,500 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $18.04, for a total value of $225,500.00. Following the completion of the sale, the vice president now owns 162,210 shares in the company, valued at approximately $2,926,268.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.48% of the company’s stock.
MaxLinear Company Profile
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.
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