MaxLinear, Inc $MXL Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in MaxLinear, Inc (NASDAQ:MXL) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,720,484 shares of the semiconductor company’s stock after selling 94,083 shares during the period. Vanguard Group Inc. owned approximately 0.15% of MaxLinear worth $204,545,000 as of its most recent SEC filing.

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

MaxLinear Stock Performance

NASDAQ MXL opened at $17.43 on Monday. The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $18.44 and its two-hundred day moving average is $16.89. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -11.03 and a beta of 1.74. MaxLinear, Inc has a 12-month low of $8.35 and a 12-month high of $20.82.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data 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 return on equity of 6.95% and a negative net margin of 29.23%.The firm had revenue of $136.44 million for the quarter, compared to analyst estimates of $134.82 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. MaxLinear’s quarterly revenue was up 48.0% on a year-over-year basis. Research analysts expect that MaxLinear, Inc will post -0.37 EPS for the current year.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Benchmark upped their target price on shares of MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, January 16th. Finally, Wells Fargo & Company raised their price target on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company 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.