Legal & General Group Plc Takes $25.08 Million Position in MaxLinear, Inc $MXL

Legal & General Group Plc acquired a new position in MaxLinear, Inc (NASDAQ:MXL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 195,905 shares of the semiconductor company’s stock, valued at approximately $25,082,000. Legal & General Group Plc owned 0.22% of MaxLinear at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Pure Financial Advisors LLC bought a new stake in shares of MaxLinear during the 4th quarter valued at about $1,424,000. HighTower Advisors LLC increased its position in shares of MaxLinear by 1.7% in the fourth quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock worth $11,440,000 after purchasing an additional 10,948 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in shares of MaxLinear in the fourth quarter worth approximately $190,000. Assenagon Asset Management S.A. raised its stake in MaxLinear by 110.9% in the second quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company’s stock valued at $28,329,000 after purchasing an additional 116,339 shares in the last quarter. Finally, AIGH Capital Management LLC purchased a new stake in MaxLinear in the second quarter valued at approximately $104,729,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MXL. Wells Fargo & Company raised their price objective on shares of MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Benchmark assumed coverage on MaxLinear in a research note on Wednesday, May 27th. They issued a “buy” rating and a $125.00 target price on the stock. Stifel Nicolaus raised their price target on MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Roth Capital lifted their price target on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, MaxLinear has an average rating of “Hold” and a consensus target price of $85.00.

MaxLinear Stock Down 2.7%

MXL opened at $61.73 on Friday. The company has a market cap of $5.60 billion, a P/E ratio of -51.87 and a beta of 3.95. The business’s 50-day moving average price is $79.84 and its 200-day moving average price is $58.62. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. MaxLinear, Inc has a 12 month low of $12.77 and a 12 month high of $128.30.

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

Insider Buying and Selling at MaxLinear

In other news, CEO Kishore Seendripu sold 351,454 shares of the firm’s 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 legal filing with the SEC, which is accessible through this link. Company insiders own 7.70% of the company’s stock.

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.