Louisiana State Employees Retirement System Takes $626,000 Position in MaxLinear, Inc $MXL

Louisiana State Employees Retirement System acquired a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 36,000 shares of the semiconductor company’s stock, valued at approximately $626,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MXL. Larson Financial Group LLC lifted its holdings in MaxLinear by 161.7% during the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 875 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 726 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of MaxLinear in the fourth quarter worth $25,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear during the 4th quarter valued at $27,000. Finally, Quarry LP raised its position in shares of MaxLinear by 1,293.0% during the 3rd quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 2,030 shares during the period. Institutional investors own 90.79% of the company’s stock.

MaxLinear Price Performance

MXL stock opened at $85.82 on Wednesday. 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 company’s fifty day moving average price is $89.15 and its 200-day moving average price is $43.98. MaxLinear, Inc has a one year low of $12.77 and a one year high of $128.30. The company has a market capitalization of $7.68 billion, a PE ratio of -56.46 and a beta of 3.91.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MXL. Benchmark began coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 target price on the stock. Loop Capital raised 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 report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $40.00 price objective on shares of MaxLinear in a research report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Tuesday, April 21st. Finally, Needham & Company LLC upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Friday, April 24th. 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. Based on data from MarketBeat, MaxLinear has a consensus rating of “Hold” and a consensus price target of $65.50.

Insider Transactions at MaxLinear

In other news, Director Thomas E. Pardun sold 11,000 shares of MaxLinear stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the sale, the director directly owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. The trade was a 16.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the sale, the insider directly owned 13,947 shares in the company, valued at $1,352,301.12. This trade represents a 71.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 65,168 shares of company stock valued at $5,559,358. Company insiders own 7.70% of the company’s stock.

About MaxLinear

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.