MaxLinear, Inc $MXL Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC raised its holdings in MaxLinear, Inc (NASDAQ:MXL) by 1.7% in the fourth quarter, Holdings Channel reports. The fund owned 656,319 shares of the semiconductor company’s stock after buying an additional 10,948 shares during the period. HighTower Advisors LLC’s holdings in MaxLinear were worth $11,440,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State of Alaska Department of Revenue raised its holdings in MaxLinear by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 632 shares during the last quarter. Amalgamated Bank raised its holdings in MaxLinear by 3.5% in the 3rd quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock valued at $373,000 after acquiring an additional 775 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of MaxLinear by 3.5% during the 3rd quarter. Arizona State Retirement System now owns 24,295 shares of the semiconductor company’s stock worth $391,000 after buying an additional 830 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of MaxLinear by 97.0% during 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 last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of MaxLinear by 2.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 57,796 shares of the semiconductor company’s stock worth $821,000 after buying an additional 1,226 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Stock Performance

NASDAQ:MXL opened at $99.16 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. The stock has a market capitalization of $8.88 billion, a P/E ratio of -65.24 and a beta of 3.95. The company has a 50 day moving average price of $46.14 and a 200 day moving average price of $27.52. MaxLinear, Inc has a fifty-two week low of $10.96 and a fifty-two week high of $104.27.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The firm had revenue of $137.19 million during the quarter, compared to analysts’ expectations of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm’s quarterly revenue was up 43.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS. Equities research analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current year.

Insider Buying and Selling

In related 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 transaction of $313,600.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the transaction, the insider directly owned 13,947 shares of the company’s stock, valued at $1,352,301.12. The trade was a 71.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 99,097 shares of company stock valued at $5,150,815 in the last ninety days. 7.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target 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. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Friday, April 24th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Stifel Nicolaus raised their price target on shares of MaxLinear from $34.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Benchmark assumed coverage on shares of MaxLinear in a report on Tuesday, May 12th. They set a “buy” rating and a $28.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.20.

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.