Bank of New York Mellon Corp Has $73.10 Million Stock Holdings in MaxLinear, Inc. (NYSE:MXL)

Posted by Defense World Staff on Aug 19th, 2023

Bank of New York Mellon Corp grew its position in MaxLinear, Inc. (NYSE:MXL – Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,076,033 shares of the semiconductor company’s stock after purchasing an additional 43,200 shares during the period. Bank of New York Mellon Corp owned about 2.60% of MaxLinear worth $73,097,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MXL. Norges Bank acquired a new stake in shares of MaxLinear in the 4th quarter valued at $24,371,000. Invesco Ltd. raised its holdings in shares of MaxLinear by 55.8% in the first quarter. Invesco Ltd. now owns 1,365,980 shares of the semiconductor company’s stock valued at $79,705,000 after buying an additional 489,167 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of MaxLinear by 898.8% in the fourth quarter. American Century Companies Inc. now owns 410,375 shares of the semiconductor company’s stock valued at $13,932,000 after buying an additional 369,290 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of MaxLinear by 53.1% in the first quarter. Pacer Advisors Inc. now owns 920,853 shares of the semiconductor company’s stock valued at $32,423,000 after buying an additional 319,392 shares during the last quarter. Finally, BlackRock Inc. raised its holdings 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 valued at $653,123,000 after buying an additional 300,163 shares during the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.

MaxLinear Stock Performance

Shares of MXL stock opened at $22.61 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 1.77. The stock has a market cap of $1.83 billion, a PE ratio of 28.26 and a beta of 1.87. The stock has a 50-day moving average of $28.67 and a 200-day moving average of $30.88. MaxLinear, Inc. has a one year low of $21.82 and a one year high of $43.66.

MaxLinear (NYSE:MXL – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.20. The company had revenue of $183.94 million during the quarter, compared to analysts’ expectations of $190.03 million. MaxLinear had a return on equity of 26.91% and a net margin of 6.41%. As a group, sell-side analysts expect that MaxLinear, Inc. will post 0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MXL. Stifel Nicolaus cut their price target on MaxLinear from $48.00 to $42.00 in a report on Thursday, April 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target on shares of MaxLinear in a report on Thursday, July 27th. StockNews.com initiated coverage on MaxLinear in a report on Thursday. They set a “hold” rating for the company. Wells Fargo & Company dropped their price objective on MaxLinear from $50.00 to $45.00 in a report on Thursday, July 27th. Finally, BNP Paribas raised MaxLinear from an “underperform” rating to a “neutral” rating and set a $30.00 price objective for the company in a report on Friday, May 19th. Four research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.30.

Read Our Latest Report on MXL

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.