MaxLinear, Inc $MXL Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its stake in shares of MaxLinear, Inc (NASDAQ:MXL) by 109.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,928 shares of the semiconductor company’s stock after purchasing an additional 37,137 shares during the period. Intech Investment Management LLC’s holdings in MaxLinear were worth $1,141,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. US Bancorp DE grew its stake in shares of MaxLinear by 121.2% during the 3rd quarter. US Bancorp DE now owns 6,230 shares of the semiconductor company’s stock valued at $100,000 after buying an additional 3,414 shares during the period. Fox Run Management L.L.C. increased its holdings in shares of MaxLinear by 35.0% during the 3rd quarter. Fox Run Management L.L.C. now owns 69,064 shares of the semiconductor company’s stock worth $1,111,000 after buying an additional 17,920 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of MaxLinear by 97.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock worth $34,000 after buying an additional 1,039 shares during the period. JPMorgan Chase & Co. boosted its holdings in MaxLinear by 21.9% in the third quarter. JPMorgan Chase & Co. now owns 533,743 shares of the semiconductor company’s stock valued at $8,583,000 after acquiring an additional 95,988 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in MaxLinear by 19.1% in the third quarter. Public Sector Pension Investment Board now owns 319,241 shares of the semiconductor company’s stock valued at $5,133,000 after acquiring an additional 51,278 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MXL shares. Benchmark boosted their price target on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Finally, Wells Fargo & Company lifted their price objective on MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.57.

Insider Transactions at MaxLinear

In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $15.68, for a total value of $313,600.00. Following the completion of the sale, the insider owned 343,435 shares of the company’s stock, valued at $5,385,060.80. This trade represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 44,929 shares of company stock valued at $746,456 over the last three months. 7.80% of the stock is owned by company insiders.

MaxLinear Price Performance

Shares of NASDAQ MXL opened at $15.72 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.34 and a quick ratio of 0.92. MaxLinear, Inc has a 1-year low of $8.35 and a 1-year high of $20.82. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -9.95 and a beta of 1.70. The business has a 50-day moving average of $18.36 and a 200-day moving average of $16.94.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $136.44 million for the quarter, compared to the consensus estimate of $134.82 million. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.The company’s revenue was up 48.0% on a year-over-year basis. During the same period last year, the business posted ($0.09) EPS. On average, equities analysts anticipate that MaxLinear, Inc will post -0.37 EPS for the current fiscal year.

MaxLinear declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 24th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.