The Manufacturers Life Insurance Company Takes $165.22 Million Position in MaxLinear, Inc $MXL

The Manufacturers Life Insurance Company acquired a new position in MaxLinear, Inc (NASDAQ:MXL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,290,485 shares of the semiconductor company’s stock, valued at approximately $165,221,000.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC raised its position in MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 875 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of MaxLinear by 103.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after buying an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of MaxLinear in the fourth quarter valued at $25,000. International Assets Investment Management LLC acquired a new stake in shares of MaxLinear in the fourth quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Down 5.7%

MaxLinear stock opened at $62.78 on Tuesday. The firm has a market capitalization of $5.69 billion, a P/E ratio of -52.76 and a beta of 3.96. 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, Inc has a twelve month low of $12.77 and a twelve month high of $128.30. The stock’s fifty day simple moving average is $81.65 and its 200-day simple moving average is $57.61.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $168.85 million during the quarter, compared to analyst estimates of $164.64 million. During the same period last year, the business posted $0.02 earnings per share. MaxLinear’s revenue was up 55.2% compared to the same quarter last year. As a group, equities analysts expect that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MXL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Loop Capital raised MaxLinear from a “hold” rating to a “buy” rating and lifted their target price for the company from $17.00 to $75.00 in a research report on Wednesday, April 29th. Susquehanna boosted their price target on shares of MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Northland Securities set a $110.00 price objective on shares of MaxLinear in a research note on Wednesday, June 3rd. Finally, Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.