Glenmede Trust Co. NA Raises Holdings in MaxLinear, Inc $MXL

Glenmede Trust Co. NA grew its holdings in MaxLinear, Inc (NASDAQ:MXL) by 66.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,836 shares of the semiconductor company’s stock after purchasing an additional 15,072 shares during the period. Glenmede Trust Co. NA’s holdings in MaxLinear were worth $658,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MXL. Vanguard Group Inc. lifted its holdings in shares of MaxLinear by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock valued at $232,279,000 after purchasing an additional 605,903 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in MaxLinear by 27.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock worth $41,054,000 after buying an additional 628,719 shares in the last quarter. Invesco Ltd. increased its holdings in MaxLinear by 419.9% in the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock worth $37,467,000 after buying an additional 1,736,141 shares in the last quarter. Geode Capital Management LLC raised its position in MaxLinear by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company’s stock worth $35,531,000 after buying an additional 28,548 shares during the last quarter. Finally, Marshall Wace LLP raised its position in MaxLinear by 31.8% in the 3rd quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company’s stock worth $29,366,000 after buying an additional 441,088 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Insider Transactions at MaxLinear

In related news, Director Thomas E. Pardun sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director directly owned 55,252 shares in the company, valued at approximately $5,801,460. The trade was a 16.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.70% of the company’s stock.

MaxLinear Trading Up 6.8%

Shares of NASDAQ:MXL opened at $74.98 on Friday. The stock’s 50-day simple moving average is $84.21 and its two-hundred day simple moving average is $53.24. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of -63.01 and a beta of 3.95. MaxLinear, Inc has a 52-week low of $12.77 and a 52-week high of $128.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm had revenue of $168.85 million during the quarter, compared to analyst estimates of $164.64 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The business’s revenue for the quarter was up 55.2% compared to the same quarter last year. Analysts expect that MaxLinear, Inc will post 0.78 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MXL shares. Needham & Company LLC upped their target price 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. Northland Securities set a $110.00 price objective on shares of MaxLinear in a report on Wednesday, June 3rd. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report on Friday, July 17th. Finally, Susquehanna raised their target price on shares of MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $85.00.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.