Nicholas Investment Partners LP bought a new position in shares of MaxLinear, Inc (NASDAQ:MXL - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 55,961 shares of the semiconductor company's stock, valued at approximately $7,165,000. Nicholas Investment Partners LP owned about 0.06% of MaxLinear at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pure Financial Advisors LLC bought a new stake in MaxLinear in the fourth quarter valued at approximately $1,424,000. HighTower Advisors LLC raised its holdings in MaxLinear by 1.7% during the 4th quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company's stock worth $11,440,000 after purchasing an additional 10,948 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in MaxLinear during the 4th quarter worth approximately $190,000. Assenagon Asset Management S.A. raised its stake in MaxLinear by 110.9% during the second quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company's stock worth $28,329,000 after buying an additional 116,339 shares during the last quarter. Finally, AIGH Capital Management LLC acquired a new position in shares of MaxLinear in the 2nd quarter valued at about $104,729,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on MXL. Northland Securities set a $110.00 price objective on shares of MaxLinear in a report on Wednesday, June 3rd. Benchmark assumed coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They issued a "buy" rating and a $125.00 target price for the company. Wall Street Zen upgraded shares of MaxLinear from a "hold" rating to a "buy" rating in a research note on Sunday, July 26th. Stifel Nicolaus lifted their target price on shares of MaxLinear from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, Susquehanna boosted their target price on MaxLinear from $45.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Five research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $85.00.
Check Out Our Latest Stock Report on MaxLinear
MaxLinear Price Performance
MXL opened at $62.78 on Tuesday. MaxLinear, Inc has a fifty-two week low of $12.77 and a fifty-two week high of $128.30. The firm has a 50-day moving average of $81.65 and a 200 day moving average of $57.61. 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 firm has a market cap of $5.69 billion, a P/E ratio of -52.76 and a beta of 3.96.
MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $168.85 million for the quarter, compared to analyst estimates of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The company's revenue for the quarter was up 55.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. On average, research analysts expect that MaxLinear, Inc will post 0.78 EPS for the current year.
Insider Activity
In other news, CEO Kishore Seendripu sold 351,454 shares of the firm'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is currently owned by insiders.
MaxLinear Profile
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Free Report)
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.
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