Federated Hermes Inc. Sells 106,178 Shares of MaxLinear, Inc. (NYSE:MXL)

Posted by Defense World Staff on Mar 10th, 2023

Federated Hermes Inc. decreased its holdings in MaxLinear, Inc. (NYSE:MXL – Get Rating) by 49.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,049 shares of the semiconductor company’s stock after selling 106,178 shares during the quarter. Federated Hermes Inc. owned approximately 0.14% of MaxLinear worth $3,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. PDT Partners LLC increased its stake in shares of MaxLinear by 177.5% in the second quarter. PDT Partners LLC now owns 22,998 shares of the semiconductor company’s stock valued at $781,000 after buying an additional 14,710 shares during the period. Paradigm Capital Management Inc. NY increased its position in MaxLinear by 13.0% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 1,222,200 shares of the semiconductor company’s stock valued at $39,868,000 after purchasing an additional 140,300 shares during the period. EFG Asset Management North America Corp. bought a new position in MaxLinear during the 3rd quarter worth approximately $605,000. Comerica Bank lifted its position in shares of MaxLinear by 1.1% in the 3rd quarter. Comerica Bank now owns 244,993 shares of the semiconductor company’s stock worth $7,796,000 after purchasing an additional 2,580 shares during the period. Finally, AlphaCrest Capital Management LLC boosted its stake in shares of MaxLinear by 416.0% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 112,958 shares of the semiconductor company’s stock valued at $3,838,000 after purchasing an additional 91,065 shares during the last quarter. 90.26% of the stock is currently owned by institutional investors and hedge funds.

MaxLinear Trading Down 2.4 %

NYSE MXL opened at $34.52 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.65 and a debt-to-equity ratio of 0.18. MaxLinear, Inc. has a 52 week low of $29.27 and a 52 week high of $63.89. The business has a 50 day moving average price of $36.77 and a 200-day moving average price of $35.27. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 10.40 and a beta of 1.92.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, insider James Lougheed sold 115,944 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $40.74, for a total transaction of $4,723,558.56. Following the transaction, the insider now owns 3,921 shares in the company, valued at $159,741.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other MaxLinear news, VP Michael Bollesen sold 5,757 shares of the business’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $38.93, for a total transaction of $224,120.01. Following the completion of the sale, the vice president now directly owns 81,474 shares of the company’s stock, valued at approximately $3,171,782.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Lougheed sold 115,944 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $40.74, for a total value of $4,723,558.56. Following the completion of the transaction, the insider now owns 3,921 shares in the company, valued at approximately $159,741.54. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on MXL. Susquehanna boosted their target price on shares of MaxLinear from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, February 2nd. Needham & Company LLC dropped their price objective on MaxLinear from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, February 2nd. BNP Paribas started coverage on MaxLinear in a research note on Tuesday, February 28th. They set an “underperform” rating and a $30.00 target price for the company. Finally, Benchmark dropped their price target on MaxLinear from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, MaxLinear presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.22.

MaxLinear Profile

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MaxLinear, Inc engages in the provision of communications systems-on-chip, or SoC, solutions used in broadband, mobile and wireline infrastructure, data center, 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.