The Manufacturers Life Insurance Company Makes New Investment in MaxLinear, Inc $MXL

The Manufacturers Life Insurance Company bought a new position in shares of MaxLinear, Inc (NASDAQ:MXL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,290,485 shares of the semiconductor company’s stock, valued at approximately $165,221,000. The Manufacturers Life Insurance Company owned approximately 1.42% of MaxLinear as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MXL. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of MaxLinear in the second quarter worth about $81,056,000. Kendall Capital Management purchased a new stake in MaxLinear during the 2nd quarter valued at about $422,000. Northwestern Mutual Wealth Management Co. purchased a new stake in MaxLinear during the 2nd quarter valued at about $215,000. Emerald Investment Advisers LLC acquired a new stake in MaxLinear in the 2nd quarter valued at about $5,126,000. Finally, Rakuten Securities Inc. purchased a new position in MaxLinear in the 2nd quarter worth approximately $254,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MXL has been the subject of a number of analyst reports. Needham & Company LLC upped their price target on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Northland Securities set a $110.00 price objective on MaxLinear in a research report on Wednesday, June 3rd. Roth Capital boosted their price objective on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Benchmark began coverage on MaxLinear in a report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Susquehanna raised their target price on MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MaxLinear presently has an average rating of “Hold” and an average target price of $85.00.

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction on Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a filing with the SEC, which is available at this link. 7.70% of the stock is currently owned by company insiders.

MaxLinear Stock Performance

MaxLinear stock opened at $62.78 on Tuesday. The firm has a 50 day simple moving average of $81.65 and a 200-day simple moving average of $57.61. MaxLinear, Inc has a 1-year low of $12.77 and a 1-year high of $128.30. 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 cap of $5.69 billion, a price-to-earnings ratio of -52.76 and a beta of 3.96.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $164.64 million. During the same quarter in the previous year, the company earned $0.02 EPS. The business’s revenue for the quarter was up 55.2% compared to the same quarter last year. On average, analysts expect that MaxLinear, Inc will post 0.78 EPS for the current 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.