Essex Investment Management Co. LLC Invests $3.86 Million in MaxLinear, Inc $MXL

Essex Investment Management Co. LLC acquired a new position in MaxLinear, Inc (NASDAQ:MXL) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 240,269 shares of the semiconductor company’s stock, valued at approximately $3,864,000. Essex Investment Management Co. LLC owned approximately 0.27% of MaxLinear at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in shares of MaxLinear by 3.1% during the first 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 during the period. AQR Capital Management LLC lifted its position 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 buying an additional 106,355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $515,000 after buying an additional 2,043 shares during the period. Goldman Sachs Group Inc. grew 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 valued at $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 increased its stake in shares of MaxLinear by 23.9% in the first 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 during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Trading Up 1.5%

Shares of MXL stock opened at $19.01 on Tuesday. MaxLinear, Inc has a 12 month low of $8.35 and a 12 month high of $20.82. The company has a market cap of $1.64 billion, a PE ratio of -12.03 and a beta of 1.74. The company has a quick ratio of 0.92, a current ratio of 1.34 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $18.26 and its two-hundred day moving average is $16.61.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $136.44 million for the quarter, compared to analyst estimates of $134.82 million. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. During the same period last year, the business posted ($0.09) EPS. MaxLinear’s revenue was up 48.0% compared to the same quarter last year. Equities analysts predict that MaxLinear, Inc will post -0.37 EPS for the current year.

MaxLinear declared that its Board of Directors has approved a share repurchase program on Monday, November 24th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

MXL has been the topic of a number of recent research reports. Stifel Nicolaus set a $23.00 target price on MaxLinear in a research note on Friday, October 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Wells Fargo & Company increased their price objective on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Williams Trading set a $25.00 target price on shares of MaxLinear in a research note on Friday, October 24th. Finally, Benchmark boosted their target price on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.57.

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.