Needham Investment Management LLC Has $2.44 Million Stock Holdings in MaxLinear, Inc $MXL

Needham Investment Management LLC cut its position in MaxLinear, Inc (NASDAQ:MXL) by 9.7% during the 4th quarter, HoldingsChannel reports. The firm owned 140,000 shares of the semiconductor company’s stock after selling 15,000 shares during the quarter. Needham Investment Management LLC’s holdings in MaxLinear were worth $2,440,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Larson Financial Group LLC increased its position in shares of MaxLinear by 161.7% during the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 875 shares in the last quarter. Smartleaf Asset Management LLC grew its position 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 acquiring an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of MaxLinear in the 4th quarter valued at about $25,000. International Assets Investment Management LLC bought a new position in shares of MaxLinear in the 4th quarter valued at about $27,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of MaxLinear by 97.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 1,039 shares during the period. Institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Performance

MXL opened at $88.76 on Tuesday. MaxLinear, Inc has a 1-year low of $11.74 and a 1-year high of $106.28. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average price is $67.15 and its two-hundred day moving average price is $35.23. The company has a market cap of $7.95 billion, a price-to-earnings ratio of -58.39 and a beta of 3.98.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Roth Mkm upgraded shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Friday, April 24th. Benchmark began coverage on shares of MaxLinear in a report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 target price on the stock. Susquehanna reissued a “neutral” rating and issued a $30.00 target price on shares of MaxLinear in a report on Monday, April 20th. Loop Capital raised shares of MaxLinear from a “hold” rating to a “buy” rating and lifted their price target for the company from $17.00 to $75.00 in a report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.00.

Insider Activity

In other news, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were 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 owned 55,252 shares in the company, valued at $5,801,460. This represents a 16.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 13,947 shares of the company’s stock, valued at $1,352,301.12. This trade represents a 71.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 65,168 shares of company stock valued at $5,559,359. 7.70% of the stock is currently owned by corporate insiders.

MaxLinear 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.