Intech Investment Management LLC Boosts Stock Position in MaxLinear, Inc $MXL

Intech Investment Management LLC boosted its stake in shares of MaxLinear, Inc (NASDAQ:MXL) by 109.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,928 shares of the semiconductor company’s stock after acquiring an additional 37,137 shares during the quarter. Intech Investment Management LLC owned about 0.08% of MaxLinear worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of MXL. Amalgamated Bank raised its position in shares of MaxLinear by 3.5% during the 3rd quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock worth $373,000 after purchasing an additional 775 shares during the last quarter. Arizona State Retirement System grew its holdings in MaxLinear by 3.5% during the 3rd quarter. Arizona State Retirement System now owns 24,295 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 830 shares during the last quarter. Bank of Montreal Can increased its position in MaxLinear by 7.8% during the second quarter. Bank of Montreal Can now owns 12,381 shares of the semiconductor company’s stock worth $176,000 after buying an additional 896 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of MaxLinear by 2.5% in the third quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the semiconductor company’s stock worth $605,000 after acquiring an additional 900 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of MaxLinear by 97.0% in the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 1,039 shares during the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

MaxLinear Trading Down 4.1%

Shares of MaxLinear stock opened at $15.72 on Friday. MaxLinear, Inc has a fifty-two week low of $8.35 and a fifty-two week high of $20.82. The business’s fifty day moving average is $18.36 and its two-hundred day moving average is $16.94. The company has a quick ratio of 0.92, a current ratio of 1.34 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.36 billion, a PE ratio of -9.95 and a beta of 1.70.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Thursday, January 29th. The semiconductor company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $136.44 million during 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 business’s revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. Analysts anticipate that MaxLinear, Inc will post -0.37 earnings per share for the current year.

MaxLinear announced that its board has initiated a stock buyback program on Monday, November 24th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at MaxLinear

In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $15.68, for a total value of $313,600.00. Following the sale, the insider directly owned 343,435 shares of the company’s stock, valued at approximately $5,385,060.80. This trade represents a 5.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 44,929 shares of company stock valued at $746,456. 7.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MXL has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, January 22nd. Wells Fargo & Company upped their target price on shares of MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Finally, Benchmark raised their price target on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.57.

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.