MaxLinear, Inc $MXL Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in MaxLinear, Inc (NASDAQ:MXL) by 4,881.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,158 shares of the semiconductor company’s stock after purchasing an additional 23,673 shares during the period. Fifth Third Bancorp’s holdings in MaxLinear were worth $420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MXL. Larson Financial Group LLC lifted its position in shares of MaxLinear by 161.7% during 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% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 726 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of MaxLinear in the 4th quarter valued at $25,000. International Assets Investment Management LLC purchased a new position in shares of MaxLinear in the 4th quarter valued at $27,000. Finally, Quarry LP grew its position in shares of MaxLinear by 1,293.0% in the 3rd quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 2,030 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MXL shares. Stifel Nicolaus boosted their price target on shares of MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $40.00 price objective on shares of MaxLinear in a report on Friday, April 24th. Roth Capital lifted their target price on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Benchmark initiated coverage on MaxLinear in a report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Needham & Company LLC boosted their target price on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, MaxLinear presently has an average rating of “Hold” and a consensus target price of $85.00.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction on Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the transaction, the insider directly owned 13,947 shares in the company, valued at approximately $1,352,301.12. The trade was a 71.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas E. Pardun sold 11,000 shares of MaxLinear stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the transaction, the director owned 55,252 shares in the company, valued at approximately $5,801,460. This represents a 16.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 7.70% of the company’s stock.

MaxLinear Stock Performance

Shares of MXL opened at $66.92 on Friday. The company’s 50 day simple moving average is $87.55 and its 200-day simple moving average is $51.32. The firm has a market cap of $5.99 billion, a PE ratio of -56.24 and a beta of 3.91. MaxLinear, Inc has a 12-month low of $12.77 and a 12-month high of $128.30. 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 (NASDAQ:MXL) last released its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $168.85 million during the quarter, compared to the consensus estimate of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. MaxLinear’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS. As a group, equities analysts predict that MaxLinear, Inc will post 0.78 EPS for the current year.

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.