Lisanti Capital Growth LLC lifted its position in MaxLinear, Inc (NASDAQ:MXL – Free Report) by 91.2% in the 3rd quarter, Holdings Channel reports. The fund owned 40,945 shares of the semiconductor company’s stock after acquiring an additional 19,535 shares during the quarter. Lisanti Capital Growth LLC’s holdings in MaxLinear were worth $3,698,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of MaxLinear in the 2nd quarter valued at approximately $1,754,062,000. Dimensional Fund Advisors LP boosted its position in shares of MaxLinear by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,689,692 shares of the semiconductor company’s stock valued at $29,376,000 after purchasing an additional 113,058 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in MaxLinear in the second quarter worth $165,221,000. AIGH Capital Management LLC purchased a new stake in MaxLinear in the second quarter worth $104,729,000. Finally, Bank of America Corp DE grew its stake in MaxLinear by 6.9% in the first quarter. Bank of America Corp DE now owns 641,034 shares of the semiconductor company’s stock worth $11,148,000 after purchasing an additional 41,119 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.
Insider Transactions at MaxLinear
In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.70% of the company’s stock.
Analyst Ratings Changes
Several brokerages have commented on MXL. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, October 15th. Needham & Company LLC boosted their target price on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Morgan Stanley set a $125.00 price target on shares of MaxLinear in a research note on Monday, September 14th. Finally, Stifel Nicolaus increased their price target on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MaxLinear has an average rating of “Moderate Buy” and a consensus price target of $94.30.
Check Out Our Latest Analysis on MXL
MaxLinear Price Performance
MXL stock opened at $59.95 on Thursday. The firm has a 50 day moving average price of $76.07 and a 200-day moving average price of $60.83. MaxLinear, Inc has a 52-week low of $12.77 and a 52-week high of $128.30. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 85.44 and a beta of 3.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.22.
MaxLinear (NASDAQ:MXL – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.06. The company had revenue of $218.06 million for the quarter, compared to the consensus estimate of $214.95 million. MaxLinear had a positive return on equity of 12.89% and a negative net margin of 4.45%. The firm’s quarterly revenue was up 72.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 EPS. Equities research analysts forecast that MaxLinear, Inc will post 1.10 EPS for the current fiscal year.
MaxLinear Profile
MaxLinear, Inc. is a fabless semiconductor company that designs radio-frequency, analog and mixed-signal components, as well as system-on-chip products. Its technologies are used to move and process data in broadband, wireless, wired-networking and infrastructure applications. The company’s products support equipment such as broadband access devices, Wi-Fi systems, Ethernet and optical networking equipment, and wireless infrastructure. MaxLinear sells to customers around the world, including communications equipment manufacturers and other technology companies.
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