Polar Asset Management Partners Inc. Takes Position in MaxLinear, Inc $MXL

Polar Asset Management Partners Inc. bought a new position in shares of MaxLinear, Inc (NASDAQ:MXL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 190,086 shares of the semiconductor company’s stock, valued at approximately $3,057,000.

Other hedge funds have also recently modified their holdings of the company. Amalgamated Bank lifted its stake in MaxLinear by 3.5% in the 3rd quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock valued at $373,000 after buying an additional 775 shares in the last quarter. Arizona State Retirement System increased its stake in MaxLinear by 3.5% during the 3rd quarter. Arizona State Retirement System now owns 24,295 shares of the semiconductor company’s stock worth $391,000 after buying an additional 830 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of MaxLinear by 7.8% during the second quarter. Bank of Montreal Can now owns 12,381 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 896 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of MaxLinear by 2.5% in the third quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the semiconductor company’s stock valued at $605,000 after acquiring an additional 900 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of MaxLinear by 97.0% in the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 1,039 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Benchmark lifted their target price on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Finally, Wells Fargo & Company upped their target price on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, MaxLinear has a consensus rating of “Hold” and an average price target of $19.57.

MaxLinear Price Performance

MXL stock opened at $17.10 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.34 and a quick ratio of 0.92. The business has a 50 day simple moving average of $18.09 and a 200-day simple moving average of $16.97. The firm has a market capitalization of $1.48 billion, a PE ratio of -10.82 and a beta of 1.70. MaxLinear, Inc has a 1 year low of $8.35 and a 1 year high of $20.82.

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

MaxLinear announced that its Board of Directors has initiated a share buyback program on Monday, November 24th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at MaxLinear

In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of MaxLinear stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $15.68, for a total transaction of $313,600.00. Following the transaction, the insider directly owned 343,435 shares of the company’s stock, valued at $5,385,060.80. The trade was a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 44,929 shares of company stock worth $746,456 in the last ninety days. 7.80% of the stock is currently owned by company insiders.

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.