Legato Capital Management LLC Buys New Position in MaxLinear, Inc $MXL

Legato Capital Management LLC bought a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 83,282 shares of the semiconductor company’s stock, valued at approximately $1,339,000. Legato Capital Management LLC owned about 0.10% of MaxLinear at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in MaxLinear by 97.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock worth $34,000 after buying an additional 1,039 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of MaxLinear by 104.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,579 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 1,828 shares during the period. Bessemer Group Inc. grew its position in shares of MaxLinear by 917.6% during the third quarter. Bessemer Group Inc. now owns 3,175 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,863 shares in the last quarter. Raymond James Financial Inc. bought a new stake in MaxLinear during the 2nd quarter valued at approximately $51,000. Finally, Strs Ohio purchased a new position in MaxLinear in the 1st quarter worth approximately $63,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MXL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Wells Fargo & Company increased their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. 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 report on Friday, January 16th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.57.

MaxLinear Stock Performance

Shares of NASDAQ:MXL opened at $17.29 on Wednesday. The firm’s 50 day simple moving average is $18.43 and its 200-day simple moving average is $16.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34. MaxLinear, Inc has a one year low of $8.35 and a one year high of $20.82. The firm has a market cap of $1.49 billion, a PE ratio of -10.94 and a beta of 1.70.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The company had revenue of $136.44 million for the quarter, compared to analysts’ expectations of $134.82 million. During the same period in the prior year, the business earned ($0.09) EPS. The firm’s quarterly revenue was up 48.0% on a year-over-year basis. As a group, equities analysts predict that MaxLinear, Inc will post -0.37 EPS for the current year.

MaxLinear declared that its board has authorized a share repurchase plan on Monday, November 24th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the semiconductor company to buy up to 5.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.