Triumph Capital Management grew its position in MaxLinear, Inc (NASDAQ:MXL – Free Report) by 54.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,041 shares of the semiconductor company’s stock after buying an additional 8,449 shares during the quarter. Triumph Capital Management’s holdings in MaxLinear were worth $2,171,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. AIGH Capital Management LLC purchased a new position in MaxLinear during the 2nd quarter valued at about $104,729,000. Assenagon Asset Management S.A. grew its position in MaxLinear by 110.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company’s stock valued at $28,329,000 after acquiring an additional 116,339 shares in the last quarter. Bank of America Corp DE purchased a new stake in MaxLinear during the second quarter worth about $33,963,000. UNICOM Systems Inc. purchased a new stake in MaxLinear during the second quarter worth about $14,711,000. Finally, BlackRock Inc. purchased a new stake in MaxLinear during the second quarter worth about $1,754,062,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.
Insider Buying and Selling at MaxLinear
In related news, CEO Kishore Seendripu sold 351,454 shares of the firm’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 value of $30,207,471.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 7.70% of the company’s stock.
MaxLinear Stock Down 11.1%
MaxLinear (NASDAQ:MXL – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $168.85 million for the quarter, compared to analyst estimates of $164.64 million. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%. MaxLinear’s revenue for the quarter was up 55.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. Equities research analysts anticipate that MaxLinear, Inc will post 0.78 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts have recently commented on the stock. Roth Capital raised their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, July 24th. 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 note on Monday, July 20th. Morgan Stanley set a $125.00 target price on shares of MaxLinear in a report on Monday, September 14th. Stifel Nicolaus increased their target price on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $88.64.
View Our Latest Analysis on MaxLinear
MaxLinear Profile
MaxLinear, Inc is a fabless semiconductor company that develops high-performance analog and mixed-signal integrated circuits for communications and connectivity applications. Its products are designed to help equipment manufacturers process, transmit and manage data across broadband, wired and wireless infrastructure, data center, and industrial systems.
The company’s product portfolio includes broadband access and connectivity solutions, RF and microwave components, Ethernet and high-speed interconnect products, optical networking technologies, and power-management devices.
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