ClariVest Asset Management LLC continued to hold its position in MaxLinear Inc. (NYSE:MXL) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 22,700 shares of the company’s stock at the end of the second quarter. ClariVest Asset Management LLC’s holdings in MaxLinear were worth $408,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Winslow Evans & Crocker Inc. acquired a new position in MaxLinear during the second quarter worth about $227,000. Meeder Asset Management Inc. increased its position in MaxLinear by 11.9% in the second quarter. Meeder Asset Management Inc. now owns 15,098 shares of the company’s stock worth $273,000 after buying an additional 1,602 shares during the last quarter. Capital Fund Management S.A. acquired a new position in MaxLinear during the second quarter worth about $288,000. Prudential Financial Inc. acquired a new position in MaxLinear during the first quarter worth about $333,000. Finally, Commonwealth Equity Services Inc acquired a new position in MaxLinear during the first quarter worth about $386,000. Institutional investors own 75.96% of the company’s stock.
Shares of MaxLinear Inc. (NYSE:MXL) traded down 1.42% during mid-day trading on Monday, hitting $19.39. 611,109 shares of the stock were exchanged. MaxLinear Inc. has a 12-month low of $12.67 and a 12-month high of $22.50. The firm has a 50-day moving average price of $19.69 and a 200 day moving average price of $19.21. The company has a market capitalization of $1.24 billion, a PE ratio of 34.44 and a beta of 0.48.
MaxLinear (NYSE:MXL) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The company earned $101.70 million during the quarter, compared to analysts’ expectations of $101.94 million. MaxLinear had a return on equity of 35.97% and a net margin of 8.72%. MaxLinear’s revenue was up 43.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS. On average, equities research analysts expect that MaxLinear Inc. will post $1.74 earnings per share for the current year.
Several analysts recently weighed in on MXL shares. Deutsche Bank AG cut their price objective on shares of MaxLinear from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Zacks Investment Research cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 price objective (up previously from $20.00) on shares of MaxLinear in a research note on Sunday, July 10th. Finally, Stifel Nicolaus lowered their price objective on shares of MaxLinear from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $21.00.
In related news, VP Brendan Walsh sold 12,500 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $18.04, for a total transaction of $225,500.00. Following the completion of the sale, the vice president now directly owns 162,210 shares of the company’s stock, valued at approximately $2,926,268.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 12.48% of the company’s stock.
MaxLinear, Inc is a provider of integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communications and data center, metro, and long-haul transport network applications. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.