MaxLinear, Inc. (NYSE:MXL) posted its earnings results on Tuesday. The semiconductor company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The business had revenue of $88.84 million for the quarter, compared to analyst estimates of $88.02 million. MaxLinear had a net margin of 15.40% and a return on equity of 30.61%. The business’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 EPS.
Several equities analysts recently weighed in on MXL shares. Needham & Company LLC lifted their target price on shares of MaxLinear from $22.50 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 25th. Zacks Investment Research lowered shares of MaxLinear from a “hold” rating to a “sell” rating in a report on Friday, February 17th. Finally, Stifel Nicolaus boosted their price objective on shares of MaxLinear from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $29.17.
In other MaxLinear news, VP Michael J. Lachance sold 40,000 shares of MaxLinear stock in a transaction on 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 completion of the transaction, the vice president now directly owns 84,734 shares of the company’s stock, valued at $2,636,922.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Madhukar Reddy sold 27,019 shares of MaxLinear stock in a transaction on Friday, May 19th. The stock was sold at an average price of $31.14, for a total transaction of $841,371.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,509 shares of company stock valued at $3,091,004. Company insiders own 12.48% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. New York State Teachers Retirement System boosted its stake in shares of MaxLinear by 4.2% in the fourth quarter. New York State Teachers Retirement System now owns 5,000 shares of the semiconductor company’s stock worth $109,000 after buying an additional 200 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of MaxLinear by 28.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,780 shares of the semiconductor company’s stock worth $125,000 after buying an additional 1,267 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of MaxLinear during the first quarter worth about $135,000. Advisor Group Inc. boosted its stake in shares of MaxLinear by 118.1% in the third quarter. Advisor Group Inc. now owns 7,057 shares of the semiconductor company’s stock worth $142,000 after buying an additional 3,821 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in shares of MaxLinear during the third quarter worth about $203,000. 78.21% of the stock is owned by institutional investors.
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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