Polar Asset Management Partners Inc. Decreases Stake in MaxLinear, Inc $MXL

Polar Asset Management Partners Inc. reduced its holdings in shares of MaxLinear, Inc (NASDAQ:MXL) by 25.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,086 shares of the semiconductor company’s stock after selling 37,100 shares during the quarter. Polar Asset Management Partners Inc. owned 0.12% of MaxLinear worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC raised its position in MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after buying an additional 875 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of MaxLinear during the 4th quarter valued at about $25,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear in the fourth quarter worth approximately $27,000. Finally, KBC Group NV bought a new stake in shares of MaxLinear in the first quarter worth approximately $35,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Stock Performance

MXL opened at $64.86 on Tuesday. The company’s 50 day moving average is $89.71 and its 200 day moving average is $50.42. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.81 billion, a price-to-earnings ratio of -54.50 and a beta of 3.91. MaxLinear, Inc has a 12-month low of $12.77 and a 12-month high of $128.30.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The business had revenue of $168.85 million during the quarter, compared to analysts’ expectations of $164.64 million. During the same period in the prior year, the company earned $0.02 earnings per share. The firm’s revenue was up 55.2% on a year-over-year basis. On average, equities research analysts predict that MaxLinear, Inc will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the completion of the sale, the director directly owned 55,252 shares in the company, valued at $5,801,460. This represents a 16.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Connie H. Kwong sold 35,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the transaction, the insider directly owned 13,947 shares in the company, valued at approximately $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 50,118 shares of company stock valued at $4,787,444. Insiders own 7.70% of the company’s stock.

Analyst Upgrades and Downgrades

MXL has been the topic of a number of research analyst reports. Northland Securities set a $110.00 price objective on shares of MaxLinear in a research report on Wednesday, June 3rd. Loop Capital raised MaxLinear from a “hold” rating to a “buy” rating and increased their price target for the company from $17.00 to $75.00 in a report on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Susquehanna lifted their price objective on MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Needham & Company LLC upped their price objective on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MaxLinear presently has a consensus rating of “Hold” and a consensus target price of $85.00.

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.