Legal & General Group Plc Purchases New Position in MaxLinear, Inc $MXL

Legal & General Group Plc purchased a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 195,905 shares of the semiconductor company’s stock, valued at approximately $25,082,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new position in shares of MaxLinear during the second quarter valued at approximately $165,221,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in MaxLinear in the second quarter worth $81,056,000. Kendall Capital Management purchased a new stake in MaxLinear in the second quarter worth $422,000. Northwestern Mutual Wealth Management Co. bought a new stake in MaxLinear in the second quarter valued at $215,000. Finally, Emerald Investment Advisers LLC bought a new stake in MaxLinear in the second quarter valued at $5,126,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Benchmark initiated coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 target price for the company. Northland Securities set a $110.00 price target on shares of MaxLinear in a research report on Wednesday, June 3rd. Stifel Nicolaus increased their price target on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Wells Fargo & Company raised their price objective on shares of MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Finally, Roth Capital lifted their price objective on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $85.00.

Insider Activity

In other news, CEO Kishore Seendripu sold 351,454 shares of the 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

MaxLinear Price Performance

MXL opened at $61.73 on Friday. The firm has a market cap of $5.60 billion, a PE ratio of -51.87 and a beta of 3.95. The stock has a 50-day moving average price of $79.84 and a 200-day moving average price of $58.62. 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.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $168.85 million for the quarter, compared to the consensus estimate of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. MaxLinear’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 EPS. Sell-side analysts predict that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

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.