Texas Permanent School Fund Corp Grows Position in MaxLinear, Inc. (NYSE:MXL)

Posted by on Jul 29th, 2023

Texas Permanent School Fund Corp lifted its stake in MaxLinear, Inc. (NYSE:MXL – Free Report) by 33.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,970 shares of the semiconductor company’s stock after buying an additional 16,377 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.08% of MaxLinear worth $2,288,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MaxLinear by 5.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,854 shares of the semiconductor company’s stock worth $1,081,000 after purchasing an additional 1,683 shares during the last quarter. Hiddenite Capital Partners LP bought a new position in MaxLinear during the 1st quarter worth about $1,412,000. SG Americas Securities LLC grew its holdings in MaxLinear by 55.6% during the 4th quarter. SG Americas Securities LLC now owns 9,886 shares of the semiconductor company’s stock worth $336,000 after acquiring an additional 3,532 shares in the last quarter. ExodusPoint Capital Management LP grew its holdings in MaxLinear by 496.4% during the 4th quarter. ExodusPoint Capital Management LP now owns 71,844 shares of the semiconductor company’s stock worth $2,439,000 after acquiring an additional 59,798 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in MaxLinear by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,526,496 shares of the semiconductor company’s stock worth $51,824,000 after acquiring an additional 49,920 shares in the last quarter. Hedge funds and other institutional investors own 86.25% of the company’s stock.

MaxLinear Price Performance

MaxLinear stock opened at $24.88 on Friday. The company’s fifty day moving average price is $30.32 and its 200 day moving average price is $32.43. MaxLinear, Inc. has a 1 year low of $22.25 and a 1 year high of $43.66. The stock has a market capitalization of $1.99 billion, a P/E ratio of 31.10 and a beta of 1.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.48 and a current ratio of 1.98.

MaxLinear (NYSE:MXL – Get Free Report) last announced its earnings results on Wednesday, April 26th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.12. MaxLinear had a net margin of 6.41% and a return on equity of 27.61%. The company had revenue of $248.44 million for the quarter, compared to analysts’ expectations of $250.05 million. As a group, equities research analysts anticipate that MaxLinear, Inc. will post 0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MXL has been the topic of several recent research reports. Craig Hallum cut shares of MaxLinear from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a report on Thursday. Susquehanna decreased their price target on shares of MaxLinear from $45.00 to $40.00 in a research report on Thursday, April 27th. BNP Paribas raised shares of MaxLinear from an “underperform” rating to a “neutral” rating and set a $30.00 price target for the company in a research report on Friday, May 19th. Wells Fargo & Company decreased their price target on shares of MaxLinear from $50.00 to $45.00 in a research report on Thursday. Finally, StockNews.com lowered shares of MaxLinear from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

MaxLinear Company Profile

(Free Report)

MaxLinear, Inc engages in the provision of communications systems-on-chip solutions for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. Its products integrate various portions of a high-speed communication system, including radiofrequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.

See Also

Institutional Ownership by Quarter for MaxLinear (NYSE:MXL)

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