New York State Common Retirement Fund Sells 68,826 Shares of MaxLinear, Inc. (NYSE:MXL)

Posted by Defense World Staff on Aug 2nd, 2023

New York State Common Retirement Fund decreased its position in MaxLinear, Inc. (NYSE:MXL – Free Report) by 18.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,513 shares of the semiconductor company’s stock after selling 68,826 shares during the quarter. New York State Common Retirement Fund owned 0.39% of MaxLinear worth $10,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of MXL. Norges Bank purchased a new position in MaxLinear during the 4th quarter valued at about $24,371,000. Invesco Ltd. boosted its holdings in MaxLinear by 55.8% in the first quarter. Invesco Ltd. now owns 1,365,980 shares of the semiconductor company’s stock worth $79,705,000 after acquiring an additional 489,167 shares in the last quarter. American Century Companies Inc. boosted its stake in MaxLinear by 898.8% in the 4th quarter. American Century Companies Inc. now owns 410,375 shares of the semiconductor company’s stock worth $13,932,000 after purchasing an additional 369,290 shares in the last quarter. Pacer Advisors Inc. grew its position in MaxLinear by 53.1% during the 1st quarter. Pacer Advisors Inc. now owns 920,853 shares of the semiconductor company’s stock valued at $32,423,000 after purchasing an additional 319,392 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of MaxLinear by 2.8% in the first quarter. BlackRock Inc. now owns 11,193,165 shares of the semiconductor company’s stock worth $653,123,000 after buying an additional 300,163 shares in the last quarter. Hedge funds and other institutional investors own 86.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Susquehanna decreased their price objective on shares of MaxLinear from $45.00 to $40.00 in a report on Thursday, April 27th. Wells Fargo & Company lowered their price target on MaxLinear from $50.00 to $45.00 in a report on Thursday, July 27th. Loop Capital downgraded MaxLinear from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $40.00 to $25.00 in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of MaxLinear in a report on Thursday, July 27th. Finally, StockNews.com cut shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, MaxLinear has an average rating of “Moderate Buy” and a consensus price target of $35.30.

MaxLinear Stock Down 0.6 %

MXL opened at $24.51 on Wednesday. The firm’s 50 day simple moving average is $30.16 and its two-hundred day simple moving average is $32.20. The company has a market capitalization of $1.96 billion, a PE ratio of 10.73 and a beta of 1.87. MaxLinear, Inc. has a 1-year low of $22.25 and a 1-year high of $43.66. The company has a current ratio of 2.29, a quick ratio of 1.77 and a debt-to-equity ratio of 0.16.

About MaxLinear

(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.