Elevated Financial Group LLC Makes New Investment in MaxLinear, Inc $MXL

Elevated Financial Group LLC acquired a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,313 shares of the semiconductor company’s stock, valued at approximately $841,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. NFSG Corp raised its position in shares of MaxLinear by 284.0% during the 3rd quarter. NFSG Corp now owns 960 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 710 shares in the last quarter. Triumph Capital Management grew its position in MaxLinear by 54.2% in the third quarter. Triumph Capital Management now owns 24,041 shares of the semiconductor company’s stock worth $2,171,000 after acquiring an additional 8,449 shares in the last quarter. GK Wealth Management LLC grew its position in MaxLinear by 12.7% in the third quarter. GK Wealth Management LLC now owns 5,707 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 644 shares in the last quarter. Wedmont Private Capital grew its position in MaxLinear by 44.3% in the third quarter. Wedmont Private Capital now owns 5,169 shares of the semiconductor company’s stock worth $484,000 after acquiring an additional 1,588 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in MaxLinear by 10.6% during the third quarter. GAMMA Investing LLC now owns 6,802 shares of the semiconductor company’s stock worth $614,000 after acquiring an additional 650 shares during the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MXL shares. Stifel Nicolaus upped their price objective on MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday. Morgan Stanley set a $125.00 target price on MaxLinear in a report on Monday, September 14th. Susquehanna lifted their target price on MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Needham & Company LLC boosted their target price on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $88.64.

Insider Buying and Selling at MaxLinear

In other news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.70% of the company’s stock.

MaxLinear Trading Down 8.8%

NASDAQ MXL opened at $71.32 on Friday. The company’s 50-day moving average price is $77.48 and its 200-day moving average price is $74.07. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The stock has a market cap of $6.47 billion, a PE ratio of -59.93 and a beta of 3.93. MaxLinear, Inc has a 12 month low of $12.77 and a 12 month high of $128.30.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, topping 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 company had revenue of $168.85 million for the quarter, compared to the consensus estimate of $164.64 million. During the same quarter last year, the firm posted $0.02 EPS. The firm’s revenue was up 55.2% compared to the same quarter last year. Equities research analysts forecast that MaxLinear, Inc will post 0.78 earnings per share for the current year.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that develops high-performance analog and mixed-signal integrated circuits for communications and connectivity applications. Its products are designed to help equipment manufacturers process, transmit and manage data across broadband, wired and wireless infrastructure, data center, and industrial systems.

The company’s product portfolio includes broadband access and connectivity solutions, RF and microwave components, Ethernet and high-speed interconnect products, optical networking technologies, and power-management devices.