Public Sector Pension Investment Board Buys 51,278 Shares of MaxLinear, Inc $MXL

Public Sector Pension Investment Board increased its stake in shares of MaxLinear, Inc (NASDAQ:MXL) by 19.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,241 shares of the semiconductor company’s stock after buying an additional 51,278 shares during the quarter. Public Sector Pension Investment Board owned 0.37% of MaxLinear worth $5,133,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MXL. Summit Global Investments acquired a new stake in shares of MaxLinear during the third quarter worth approximately $555,000. AIGH Capital Management LLC bought a new stake in MaxLinear during the 3rd quarter worth approximately $17,809,000. Lisanti Capital Growth LLC acquired a new stake in MaxLinear during the 3rd quarter valued at $1,180,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in MaxLinear during the 3rd quarter valued at $1,571,000. Finally, Essex Investment Management Co. LLC bought a new position in MaxLinear in the 3rd quarter valued at $3,864,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Stock Performance

MaxLinear stock opened at $18.24 on Friday. The company has a market cap of $1.58 billion, a PE ratio of -11.54 and a beta of 1.74. The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. MaxLinear, Inc has a 1 year low of $8.35 and a 1 year high of $20.82. The company’s 50-day moving average is $18.34 and its two-hundred day moving average is $16.75.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The business had revenue of $136.44 million during the quarter, compared to the consensus estimate of $134.82 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. MaxLinear’s revenue for the quarter was up 48.0% compared to the same quarter last year. Equities analysts anticipate that MaxLinear, Inc will post -0.37 earnings per share for the current year.

MaxLinear announced that its board has approved a share repurchase plan on Monday, November 24th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy 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 stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MXL shares. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Wells Fargo & Company increased their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Williams Trading set a $25.00 price objective on shares of MaxLinear in a research report on Friday, October 24th. Benchmark upped their target price on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Finally, Stifel Nicolaus set a $23.00 price target on shares of MaxLinear in a report on Friday, October 24th. Two 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.57.

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.