The Manufacturers Life Insurance Company Decreases Position in MaxLinear, Inc $MXL

The Manufacturers Life Insurance Company trimmed its position in MaxLinear, Inc (NASDAQ:MXL) by 1.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,997,250 shares of the semiconductor company’s stock after selling 59,463 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MaxLinear were worth $52,122,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC raised its holdings 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 valued at $25,000 after acquiring an additional 875 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of MaxLinear during the fourth quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of MaxLinear during the fourth quarter worth approximately $27,000. Finally, KBC Group NV acquired a new position in MaxLinear in the 1st quarter valued at $35,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MaxLinear

In other news, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction that occurred on Friday, May 8th. The shares were 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 approximately $1,352,301.12. The trade was a 71.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 7.70% of the company’s stock.

MaxLinear Stock Performance

NASDAQ MXL opened at $57.25 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The stock’s fifty day moving average is $88.20 and its two-hundred day moving average is $50.98. The firm has a market capitalization of $5.13 billion, a P/E ratio of -48.11 and a beta of 3.91. MaxLinear, Inc has a fifty-two week low of $12.77 and a fifty-two week 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The business had revenue of $168.85 million during the quarter, compared to the consensus estimate of $164.64 million. During the same period last year, the company earned $0.02 EPS. The company’s revenue for the quarter was up 55.2% on a year-over-year basis. On average, research analysts anticipate that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MXL shares. Wells Fargo & Company raised their price objective on MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Susquehanna increased their target price on shares of MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and boosted their price target for the stock from $17.00 to $75.00 in a research report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $40.00 price objective on shares of MaxLinear in a research note on Friday, April 24th. Five 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 MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $85.00.

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.