Public Sector Pension Investment Board Buys 51,278 Shares of MaxLinear, Inc $MXL

Public Sector Pension Investment Board grew its stake in MaxLinear, Inc (NASDAQ:MXL) by 19.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,241 shares of the semiconductor company’s stock after acquiring an additional 51,278 shares during the quarter. Public Sector Pension Investment Board’s holdings in MaxLinear were worth $5,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank increased its stake in MaxLinear by 3.5% in the third quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock valued at $373,000 after purchasing an additional 775 shares in the last quarter. Arizona State Retirement System boosted its position in shares of MaxLinear by 3.5% during the third quarter. Arizona State Retirement System now owns 24,295 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 830 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of MaxLinear by 7.8% in the 2nd quarter. Bank of Montreal Can now owns 12,381 shares of the semiconductor company’s stock valued at $176,000 after buying an additional 896 shares during the period. Louisiana State Employees Retirement System increased its position in shares of MaxLinear by 2.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the semiconductor company’s stock valued at $605,000 after buying an additional 900 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of MaxLinear by 2.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 57,796 shares of the semiconductor company’s stock valued at $821,000 after buying an additional 1,226 shares in the last quarter. Institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Down 1.2%

Shares of MaxLinear stock opened at $18.24 on Friday. The firm has a market cap of $1.58 billion, a PE ratio of -11.54 and a beta of 1.74. The business’s 50 day simple moving average is $18.34 and its 200 day simple moving average is $16.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34. MaxLinear, Inc has a 52-week low of $8.35 and a 52-week high of $20.82.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.The firm had revenue of $136.44 million during the quarter, compared to the consensus estimate of $134.82 million. During the same quarter in the prior year, the firm posted ($0.09) EPS. The business’s revenue was up 48.0% on a year-over-year basis. On average, analysts predict that MaxLinear, Inc will post -0.37 earnings per share for the current fiscal year.

MaxLinear announced that its Board of Directors has approved a stock repurchase program on Monday, November 24th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have issued reports on MXL. Benchmark boosted their target price on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Wells Fargo & Company lifted their price objective on MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Stifel Nicolaus set a $23.00 target price on MaxLinear in a research note on Friday, October 24th. Williams Trading set a $25.00 price target on shares of MaxLinear in a research note on Friday, October 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.57.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.