Triumph Capital Management Invests $2 Million in MaxLinear, Inc $MXL

Triumph Capital Management acquired a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) during the second quarter, HoldingsChannel reports. The fund acquired 15,592 shares of the semiconductor company’s stock, valued at approximately $1,996,000.

Several other institutional investors also recently bought and sold shares of the business. Pure Financial Advisors LLC purchased a new position in shares of MaxLinear in the 4th quarter valued at $1,424,000. HighTower Advisors LLC boosted its position in MaxLinear by 1.7% during the fourth quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock valued at $11,440,000 after purchasing an additional 10,948 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in MaxLinear in the fourth quarter valued at about $190,000. Assenagon Asset Management S.A. grew its stake in MaxLinear by 110.9% in the second quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company’s stock valued at $28,329,000 after purchasing an additional 116,339 shares during the last quarter. Finally, AIGH Capital Management LLC bought a new position in MaxLinear in the second quarter worth about $104,729,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a filing with the SEC, which is available at this link. 7.70% of the stock is owned by company insiders.

MaxLinear Price Performance

Shares of NASDAQ MXL opened at $59.91 on Tuesday. 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 company has a market cap of $5.43 billion, a PE ratio of -50.34 and a beta of 3.95. The business has a 50-day simple moving average of $79.11 and a two-hundred day simple moving average of $59.19. MaxLinear, Inc has a fifty-two week low of $12.77 and a fifty-two week high of $128.30.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm had revenue of $168.85 million for the quarter, compared to the consensus estimate of $164.64 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 55.2% compared to the same quarter last year. As a group, equities analysts expect that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Needham & Company LLC increased their price target on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Roth Capital lifted their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. 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. Finally, Stifel Nicolaus raised their target price on shares of MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.