Vanguard Group Inc. Buys 605,903 Shares of MaxLinear, Inc $MXL

Vanguard Group Inc. increased its stake in MaxLinear, Inc (NASDAQ:MXL) by 4.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,326,387 shares of the semiconductor company’s stock after acquiring an additional 605,903 shares during the quarter. Vanguard Group Inc. owned about 0.15% of MaxLinear worth $232,279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MXL. State of Alaska Department of Revenue boosted its position in MaxLinear by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock valued at $795,000 after buying an additional 632 shares during the period. Amalgamated Bank increased its position in shares of MaxLinear by 3.5% during the third quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock worth $373,000 after acquiring an additional 775 shares during the period. Arizona State Retirement System raised its stake 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 valued at $391,000 after acquiring an additional 830 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of MaxLinear by 2.5% during 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 holdings 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 valued at $34,000 after purchasing an additional 1,039 shares during the period. Institutional investors own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

MXL has been the topic of several research analyst reports. Susquehanna reissued a “neutral” rating and issued a $30.00 price objective on shares of MaxLinear in a research note on Monday, April 20th. Roth Mkm raised MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Friday, April 24th. Stifel Nicolaus upped their target price on MaxLinear from $34.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Benchmark increased their price target on MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Finally, Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and raised their price target for the company from $17.00 to $75.00 in a research note on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, MaxLinear has an average rating of “Hold” and a consensus price target of $44.20.

Insiders Place Their Bets

In related news, insider Steven G. Litchfield sold 20,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $15.68, for a total transaction of $313,600.00. Following the completion of the sale, the insider directly owned 343,435 shares in the company, valued at $5,385,060.80. This represents a 5.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Connie H. Kwong sold 35,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the sale, the insider directly owned 13,947 shares in the company, valued at approximately $1,352,301.12. The trade was a 71.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 99,097 shares of company stock worth $5,150,815 over the last quarter. Company insiders own 7.70% of the company’s stock.

MaxLinear Price Performance

NASDAQ MXL opened at $99.83 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. The firm’s 50 day moving average price is $27.43 and its 200-day moving average price is $20.85. MaxLinear, Inc has a 52-week low of $10.96 and a 52-week high of $101.30. The company has a market cap of $8.94 billion, a PE ratio of -65.68 and a beta of 3.95.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. MaxLinear’s revenue for the quarter was up 43.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Sell-side analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current fiscal year.

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.