LS Investment Advisors LLC Invests $134,000 in MaxLinear, Inc (NYSE:MXL)
LS Investment Advisors LLC acquired a new position in MaxLinear, Inc (NYSE:MXL) during the second quarter, according to its most recent filing with the SEC. The fund acquired 4,792 shares of the semiconductor company’s stock, valued at approximately $134,000.
Other hedge funds also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new stake in MaxLinear during the first quarter worth approximately $135,000. Envestnet Asset Management Inc. increased its stake in 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 in the last quarter. KCG Holdings Inc. bought a new stake in MaxLinear during the first quarter worth approximately $212,000. Karp Capital Management Corp bought a new stake in MaxLinear during the first quarter worth approximately $217,000. Finally, Campbell Newman Asset Management Inc. bought a new stake in MaxLinear during the first quarter worth approximately $237,000. 85.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MaxLinear, Inc (NYSE:MXL) traded down 1.26% during trading on Friday, reaching $21.87. 780,491 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.46 billion, a PE ratio of 39.55 and a beta of 0.61. The company’s 50-day moving average price is $26.91 and its 200 day moving average price is $27.60. MaxLinear, Inc has a 52 week low of $17.61 and a 52 week high of $32.47.
MaxLinear (NYSE:MXL) last posted its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. MaxLinear had a net margin of 9.95% and a return on equity of 22.29%. The company had revenue of $104.18 million during the quarter, compared to analyst estimates of $107.77 million. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts predict that MaxLinear, Inc will post $1.39 EPS for the current fiscal year.
A number of research firms recently commented on MXL. Roth Capital decreased their price objective on shares of MaxLinear from $38.00 to $33.50 and set a “buy” rating on the stock in a report on Wednesday. Stifel Nicolaus decreased their price objective on shares of MaxLinear from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday. BidaskClub downgraded shares of MaxLinear from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Deutsche Bank AG decreased their price objective on shares of MaxLinear from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Needham & Company LLC decreased their price objective on shares of MaxLinear from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. MaxLinear currently has a consensus rating of “Buy” and a consensus price target of $31.36.
In other news, insider Connie H. Kwong sold 1,218 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $31.49, for a total transaction of $38,354.82. Following the completion of the transaction, the insider now owns 425 shares in the company, valued at approximately $13,383.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Michael J. Lachance sold 40,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $31.12, for a total transaction of $1,244,800.00. Following the transaction, the vice president now owns 84,734 shares of the company’s stock, valued at approximately $2,636,922.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,004 shares of company stock valued at $8,638,836. 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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