MaxLinear, Inc $MXL Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its holdings in shares of MaxLinear, Inc (NASDAQ:MXL) by 11.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 573,420 shares of the semiconductor company’s stock after selling 71,938 shares during the quarter. HighTower Advisors LLC’s holdings in MaxLinear were worth $73,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MXL. Pure Financial Advisors LLC purchased a new position in shares of MaxLinear during the 4th quarter worth approximately $1,424,000. Pictet Asset Management Holding SA purchased a new stake in MaxLinear in the fourth quarter valued at approximately $190,000. Assenagon Asset Management S.A. lifted its stake in MaxLinear by 110.9% during the second quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company’s stock worth $28,329,000 after purchasing an additional 116,339 shares in the last quarter. AIGH Capital Management LLC acquired a new position in MaxLinear during the second quarter worth $104,729,000. Finally, BlackRock Inc. purchased a new position in shares of MaxLinear during the second quarter worth $1,754,062,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MXL has been the topic of several research analyst reports. Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Susquehanna raised their target price on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Northland Securities set a $110.00 target price on MaxLinear in a research report on Wednesday, June 3rd. Roth Capital boosted their price target on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, 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 report on Friday, July 24th. 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $85.00.

Insiders Place Their Bets

In related 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 value of $30,207,471.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.70% of the stock is currently owned by company insiders.

MaxLinear Stock Performance

MXL opened at $62.74 on Tuesday. The business has a fifty day moving average price of $75.70 and a 200 day moving average price of $60.63. 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, Inc has a 12 month low of $12.77 and a 12 month high of $128.30. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of -52.72 and a beta of 3.93.

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

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.