Bank of New York Mellon Corp Acquires 128,585 Shares of MaxLinear, Inc. (NYSE:MXL)

Bank of New York Mellon Corp raised its stake in MaxLinear, Inc. (NYSE:MXL - Free Report) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,535,449 shares of the semiconductor company's stock after purchasing an additional 128,585 shares during the quarter. Bank of New York Mellon Corp owned approximately 3.05% of MaxLinear worth $51,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Simplicity Wealth LLC increased its stake in shares of MaxLinear by 3.1% during the 2nd quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company's stock worth $388,000 after purchasing an additional 579 shares during the last quarter. New York State Common Retirement Fund raised its stake in MaxLinear by 2.8% in the fourth quarter. New York State Common Retirement Fund now owns 31,045 shares of the semiconductor company's stock valued at $738,000 after buying an additional 840 shares during the period. ProShare Advisors LLC lifted its position in shares of MaxLinear by 7.4% in the first quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company's stock valued at $286,000 after buying an additional 1,061 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of MaxLinear by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company's stock valued at $765,000 after buying an additional 1,100 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of MaxLinear by 0.9% during the 1st quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company's stock worth $2,856,000 after acquiring an additional 1,300 shares during the period. 90.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Stifel Nicolaus raised their price target on MaxLinear from $26.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 18th. Susquehanna cut their target price on shares of MaxLinear from $30.00 to $26.00 and set a "positive" rating for the company in a research note on Thursday, July 25th. Benchmark decreased their price target on shares of MaxLinear from $28.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, July 25th. Northland Securities cut their price objective on shares of MaxLinear from $30.00 to $25.00 and set an "outperform" rating for the company in a research report on Thursday, July 25th. Finally, Craig Hallum decreased their target price on MaxLinear from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, MaxLinear currently has an average rating of "Hold" and a consensus target price of $24.67.

MaxLinear Price Performance

NYSE MXL traded up $1.39 during midday trading on Friday, hitting $15.18. The company had a trading volume of 2,463,594 shares, compared to its average volume of 1,036,046. The firm has a 50-day moving average price of $17.08 and a 200-day moving average price of $18.58. The company has a market capitalization of $1.27 billion, a PE ratio of -8.03 and a beta of 1.85. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. MaxLinear, Inc. has a twelve month low of $11.08 and a twelve month high of $26.59.

MaxLinear (NYSE:MXL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The firm had revenue of $92.00 million for the quarter, compared to the consensus estimate of $100.25 million. During the same period in the prior year, the company earned $0.19 EPS. The company's revenue for the quarter was down 50.0% compared to the same quarter last year. As a group, analysts anticipate that MaxLinear, Inc. will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Kishore Seendripu acquired 108,303 shares of the stock in a transaction on Tuesday, July 30th. The stock was acquired at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the transaction, the chief executive officer now directly owns 531,937 shares in the company, valued at $6,883,264.78. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 8.60% of the stock is currently owned by company insiders.

MaxLinear Company Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.