Polar Asset Management Partners Inc. Trims Holdings in MaxLinear, Inc $MXL

Polar Asset Management Partners Inc. decreased its position in shares of MaxLinear, Inc (NASDAQ:MXL) by 25.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,086 shares of the semiconductor company’s stock after selling 37,100 shares during the period. Polar Asset Management Partners Inc.’s holdings in MaxLinear were worth $1,862,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MXL. Royal Bank of Canada increased its stake in shares of MaxLinear by 3.1% in the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock worth $789,000 after purchasing an additional 2,204 shares in the last quarter. AQR Capital Management LLC boosted its holdings in MaxLinear by 56.0% in the 1st quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock worth $3,218,000 after buying an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MaxLinear by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock worth $515,000 after buying an additional 2,043 shares during the period. Goldman Sachs Group Inc. increased its stake in MaxLinear by 0.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock worth $5,813,000 after buying an additional 2,039 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 acquiring an additional 35,152 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Down 9.4%

Shares of MXL opened at $64.86 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of -54.50 and a beta of 3.91. MaxLinear, Inc has a 1 year low of $12.77 and a 1 year high of $128.30. The business’s 50 day simple moving average is $89.71 and its 200-day simple moving average is $50.42.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm had revenue of $168.85 million during the quarter, compared to analyst estimates of $164.64 million. During the same period last year, the firm posted $0.02 earnings per share. MaxLinear’s revenue for the quarter was up 55.2% compared to the same quarter last year. As a group, equities analysts expect that MaxLinear, Inc will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas E. Pardun sold 11,000 shares of MaxLinear 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 of the company’s stock, valued at $5,801,460. The trade was a 16.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,118 shares of company stock valued at $4,787,444 in the last quarter. 7.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on MXL shares. Needham & Company LLC boosted their price objective on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. Benchmark assumed coverage on MaxLinear in a report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price target on the stock. Wells Fargo & Company raised their target price on shares of MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $40.00 price target on shares of MaxLinear in a report on Friday, April 24th. Finally, Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday. 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.00.

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.