Teacher Retirement System of Texas increased its stake in MaxLinear, Inc. (NYSE:MXL) by 18.1% during the second quarter, Holdings Channel reports. The firm owned 9,018 shares of the semiconductor company’s stock after acquiring an additional 1,379 shares during the period. Teacher Retirement System of Texas’ holdings in MaxLinear were worth $383,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Alpha Paradigm Partners LLC bought a new position in MaxLinear in the first quarter valued at about $146,000. The PNC Financial Services Group Inc. grew its position in MaxLinear by 23.4% in the first quarter. The PNC Financial Services Group Inc. now owns 5,244 shares of the semiconductor company’s stock valued at $179,000 after acquiring an additional 994 shares during the last quarter. Russell Investments Group Ltd. bought a new position in MaxLinear in the first quarter valued at about $194,000. Envestnet Asset Management Inc. bought a new position in MaxLinear in the first quarter valued at about $219,000. Finally, Level Four Advisory Services LLC bought a new position in MaxLinear in the first quarter valued at about $237,000. Hedge funds and other institutional investors own 82.70% of the company’s stock.
In related news, VP Brendan Walsh sold 10,000 shares of MaxLinear stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $52.55, for a total value of $525,500.00. Following the transaction, the vice president now directly owns 156,932 shares of the company’s stock, valued at $8,246,776.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven G. Litchfield acquired 2,320 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The stock was bought at an average cost of $53.85 per share, for a total transaction of $124,932.00. Following the completion of the purchase, the insider now owns 112,009 shares of the company’s stock, valued at $6,031,684.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 6,904 shares of company stock worth $374,709 and sold 207,637 shares worth $9,860,801. 8.82% of the stock is owned by insiders.
MaxLinear (NYSE:MXL) last posted its quarterly earnings data on Wednesday, July 28th. The semiconductor company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.20. The company had revenue of $205.38 million for the quarter, compared to analyst estimates of $205.13 million. MaxLinear had a positive return on equity of 18.89% and a negative net margin of 7.41%. As a group, equities analysts forecast that MaxLinear, Inc. will post 1.68 EPS for the current year.
MXL has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their target price on MaxLinear from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Zacks Investment Research upgraded MaxLinear from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, August 4th. Benchmark began coverage on MaxLinear in a research report on Thursday, July 29th. They issued a “buy” rating and a $51.00 target price on the stock. Loop Capital boosted their price target on MaxLinear from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, August 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on MaxLinear from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, July 29th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MaxLinear has an average rating of “Buy” and a consensus target price of $53.60.
MaxLinear Company Profile
MaxLinear, Inc engages in the provision of radio frequency, high-performance analog and mixed-signal communications systems-on-chip solutions for the connected home, wired and wireless infrastructure, and industrial and multi-market applications. Its products include cable broadband modems and gateways, wireline connectivity devices, radio frequency transceivers, fiber-optic modules, video set-top boxes and gateways, hybrid analog and digital televisions, direct broadcast satellite outdoor and indoor units, and power management and interface products.
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