Intech Investment Management LLC Sells 25,444 Shares of MaxLinear, Inc $MXL

Intech Investment Management LLC reduced its holdings in shares of MaxLinear, Inc (NASDAQ:MXL) by 35.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,484 shares of the semiconductor company’s stock after selling 25,444 shares during the period. Intech Investment Management LLC owned about 0.05% of MaxLinear worth $793,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MXL. Royal Bank of Canada boosted its stake in shares of MaxLinear by 3.1% during the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock valued at $789,000 after purchasing an additional 2,204 shares during the period. AQR Capital Management LLC boosted its stake in shares of MaxLinear by 56.0% during the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock valued at $3,218,000 after purchasing an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of MaxLinear by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock valued at $515,000 after purchasing an additional 2,043 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of MaxLinear by 0.4% during the first quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock valued at $5,813,000 after purchasing an additional 2,039 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of MaxLinear by 23.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock valued at $1,980,000 after purchasing an additional 35,152 shares during the period. 90.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MXL has been the subject of a number of analyst reports. Loop Capital raised MaxLinear from a “hold” rating to a “buy” rating and increased their price objective for the company from $17.00 to $75.00 in a research note on Wednesday, April 29th. Benchmark initiated coverage on MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 price objective for the company. Susquehanna reissued a “neutral” rating and set a $30.00 price objective on shares of MaxLinear in a research note on Monday, April 20th. Stifel Nicolaus reissued a “buy” rating and set a $105.00 price objective (up from $49.00) on shares of MaxLinear in a research note on Wednesday, June 3rd. Finally, Northland Securities set a $110.00 price objective on MaxLinear in a research note on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $65.00.

MaxLinear Stock Performance

Shares of MXL stock opened at $79.27 on Tuesday. The stock has a fifty day moving average of $60.90 and a 200 day moving average of $32.91. MaxLinear, Inc has a 52 week low of $11.63 and a 52 week high of $106.28. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of -52.15 and a beta of 3.98. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27.

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

Insiders Place Their Bets

In other news, Director Thomas E. Pardun sold 11,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the transaction, the director directly owned 55,252 shares in the company, valued at $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Connie H. Kwong sold 35,000 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 13,947 shares of the company’s stock, valued at $1,352,301.12. The trade was a 71.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 65,168 shares of company stock valued at $5,559,359. 7.70% of the stock is owned by corporate insiders.

MaxLinear 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.