Castleark Management LLC purchased a new stake in shares of MaxLinear, Inc (NASDAQ:MXL – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 79,780 shares of the semiconductor company’s stock, valued at approximately $10,214,000.
Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in MaxLinear during the 2nd quarter valued at $1,754,062,000. Invesco Ltd. boosted its stake in MaxLinear by 419.9% in the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock worth $37,467,000 after purchasing an additional 1,736,141 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in MaxLinear in the second quarter worth $165,221,000. AIGH Capital Management LLC bought a new stake in shares of MaxLinear during the second quarter worth $104,729,000. Finally, Paradigm Capital Management Inc. NY increased its stake in shares of MaxLinear by 582.7% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 861,000 shares of the semiconductor company’s stock valued at $15,007,000 after buying an additional 734,875 shares in the last quarter. 90.79% of the stock is owned by institutional investors.
MaxLinear Price Performance
Shares of MXL stock opened at $66.36 on Wednesday. The stock has a 50-day moving average price of $81.29 and a 200 day moving average price of $57.96. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of -55.76 and a beta of 3.96. MaxLinear, Inc has a 12 month low of $12.77 and a 12 month high of $128.30.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Northland Securities set a $110.00 price objective on shares of MaxLinear in a research report on Wednesday, June 3rd. Wells Fargo & Company upped their target price on shares of MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a report on Friday, July 17th. Finally, Benchmark began coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.00.
Read Our Latest Research Report on MaxLinear
Insider Buying and Selling at MaxLinear
In related news, CEO Kishore Seendripu sold 351,454 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is currently owned by company insiders.
MaxLinear Company Profile
MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.
MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.
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