Intech Investment Management LLC Lowers Holdings in MaxLinear, Inc $MXL

Intech Investment Management LLC cut its holdings in MaxLinear, Inc (NASDAQ:MXL) by 35.9% during the fourth quarter, Holdings Channel reports. The firm owned 45,484 shares of the semiconductor company’s stock after selling 25,444 shares during the quarter. Intech Investment Management LLC’s holdings in MaxLinear were worth $793,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MXL. Royal Bank of Canada lifted its holdings in MaxLinear by 3.1% in the 1st quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock worth $789,000 after purchasing an additional 2,204 shares in the last quarter. AQR Capital Management LLC lifted its holdings in MaxLinear by 56.0% in the 1st quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock worth $3,218,000 after purchasing an additional 106,355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MaxLinear by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 2,043 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of MaxLinear by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock worth $5,813,000 after acquiring an additional 2,039 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of MaxLinear by 23.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock worth $1,980,000 after acquiring an additional 35,152 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MaxLinear

In related news, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction on 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 in the company, valued at approximately $1,352,301.12. This represents a 71.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction on 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 sale, the director owned 55,252 shares in the company, valued at $5,801,460. The trade was a 16.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,168 shares of company stock worth $5,559,359 in the last 90 days. 7.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Loop Capital raised MaxLinear from a “hold” rating to a “buy” rating and upped their price objective for the stock from $17.00 to $75.00 in a report on Wednesday, April 29th. Roth Mkm raised MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Friday, April 24th. Northland Securities set a $110.00 price objective on MaxLinear in a report on Wednesday, June 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $105.00 price objective (up from $49.00) on shares of MaxLinear in a report on Wednesday, June 3rd. Finally, Susquehanna reaffirmed a “neutral” rating and set a $30.00 price objective on shares of MaxLinear in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.00.

MaxLinear Stock Performance

NASDAQ:MXL opened at $79.27 on Tuesday. The stock’s fifty day moving average is $60.90 and its 200 day moving average is $32.91. MaxLinear, Inc has a fifty-two week low of $11.63 and a fifty-two week high of $106.28. The firm has a market capitalization of $7.10 billion, a PE ratio of -52.15 and a beta of 3.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the firm posted ($0.05) EPS. MaxLinear’s quarterly revenue was up 43.0% compared to the same quarter last year. On average, sell-side analysts anticipate that MaxLinear, Inc will post 0.52 earnings per share for the current year.

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.