Jupiter Topco LLC bought a new stake in shares of MaxLinear, Inc (NASDAQ:MXL – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 66,020 shares of the semiconductor company’s stock, valued at approximately $8,456,000. Jupiter Topco LLC owned approximately 0.07% of MaxLinear as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of MXL. BlackRock Inc. purchased a new stake in MaxLinear in the 2nd quarter worth $1,754,062,000. Invesco Ltd. boosted its stake in MaxLinear by 419.9% during the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock valued at $37,467,000 after buying an additional 1,736,141 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in MaxLinear during the second quarter valued at approximately $165,221,000. AIGH Capital Management LLC purchased a new position in MaxLinear during the 2nd quarter valued at approximately $104,729,000. Finally, Paradigm Capital Management Inc. NY increased its stake in MaxLinear by 582.7% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 861,000 shares of the semiconductor company’s stock worth $15,007,000 after acquiring an additional 734,875 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.
MaxLinear Price Performance
Shares of MXL opened at $61.73 on Monday. The firm has a fifty day moving average price of $79.84 and a 200-day moving average price of $58.90. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.60 billion, a P/E ratio of -51.87 and a beta of 3.96. MaxLinear, Inc has a 12-month low of $12.77 and a 12-month high of $128.30.
Analysts Set New Price Targets
Several brokerages recently weighed in on MXL. Stifel Nicolaus boosted their price target on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Benchmark initiated coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They set a “buy” rating and a $125.00 target price on the stock. Susquehanna upped their price objective on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Northland Securities set a $110.00 price objective on MaxLinear in a research note on Wednesday, June 3rd. Finally, Roth Capital boosted their target price on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $85.00.
Read Our Latest Analysis on MXL
Insider Transactions at MaxLinear
In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was 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 SEC, which can be accessed through this hyperlink. 7.70% of the stock is currently owned by company insiders.
About MaxLinear
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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