Shares of MaxLinear Inc. were on the rise early in the week of June 8, as the Carlsbad chipmaker increased its financial forecast. Meanwhile, a prominent investor disclosed he had increased his stake to more than 5 percent.
MaxLinear (NYSE: MXL) made headlines earlier this year by buying another San Diego County chipmaker, Entropic Communications.
Shares of MaxLinear gained roughly 15 percent between the close of trading June 8 and the middle of the day June 9, going as high as $12.65. Shares closed June 8 at $10.89.
George Soros’ Soros Fund Management LLC reported in a June 5 securities filing that it held 5.19 percent of MaxLinear shares. Insider Monkey reported that Soros had increased his stake from 766,700 shares on March 31 to 2.69 million shares by early June.
MaxLinear, which closed its purchase of San Diego chipmaker Entropic Communications in April, said June 8 that it was raising its guidance because of the Entropic acquisition. It predicted revenue in the range of $68 million to $72 million in the second quarter of this year, and revenue in the range of $175 million and $185 million in the second half.
Separately, MaxLinear said on June 9 that Unitron Group of Belgium chose a MaxLinear integrated circuit for satellite communications.