AIGH Capital Management LLC Makes New Investment in MaxLinear, Inc $MXL

Key Points

• AIGH Capital Management acquired 818,000 MaxLinear shares worth approximately $104.7 million, making MXL its second-largest portfolio position at 6.6% and representing a 0.90% company stake.
• Institutional ownership remains high at 90.79%, with several major funds—including Vanguard, Invesco, and Manufacturers Life—also increasing their positions.
• MaxLinear exceeded quarterly earnings and revenue expectations, reporting $0.35 EPS and $168.85 million in revenue, up 55.2% year over year. Analysts’ consensus rating is “Hold,” with an average price target of $85.

AIGH Capital Management LLC acquired a new stake in shares of MaxLinear, Inc (NASDAQ:MXL - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 818,000 shares of the semiconductor company's stock, valued at approximately $104,729,000. MaxLinear makes up 6.6% of AIGH Capital Management LLC's investment portfolio, making the stock its 2nd biggest position. AIGH Capital Management LLC owned 0.90% of MaxLinear as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in MaxLinear by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company's stock valued at $232,279,000 after buying an additional 605,903 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in MaxLinear by 27.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company's stock valued at $41,054,000 after buying an additional 628,719 shares during the last quarter. Invesco Ltd. increased its stake in shares of MaxLinear by 419.9% in the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company's stock valued at $37,467,000 after buying an additional 1,736,141 shares during the period. Geode Capital Management LLC increased its stake in shares of MaxLinear by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company's stock valued at $35,531,000 after buying an additional 28,548 shares during the period. Finally, Marshall Wace LLP raised its position in shares of MaxLinear by 31.8% during the third quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company's stock worth $29,366,000 after acquiring an additional 441,088 shares during the last quarter. 90.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MXL. Roth Capital upped their price target on MaxLinear from $60.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Susquehanna lifted their price objective on MaxLinear from $45.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Needham & Company LLC upped their target price 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. Wells Fargo & Company raised their target price on shares of MaxLinear from $42.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, July 20th. Finally, Wall Street Zen upgraded shares of MaxLinear from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, MaxLinear currently has a consensus rating of "Hold" and a consensus target price of $85.00.

Insider Activity

In related news, Director Thomas E. Pardun sold 11,000 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the completion of the transaction, the director directly owned 55,252 shares in the company, valued at approximately $5,801,460. The trade was a 16.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.70% of the stock is owned by company insiders.

MaxLinear Price Performance

Shares of NASDAQ MXL opened at $84.84 on Monday. The stock has a market cap of $7.69 billion, a P/E ratio of -71.29 and a beta of 3.95. The firm has a 50 day moving average price of $82.84 and a 200 day moving average price of $55.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. MaxLinear, Inc has a 52-week low of $12.77 and a 52-week high of $128.30.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The company 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 business's revenue for the quarter was up 55.2% compared to the same quarter last year. During the same period last year, the business posted $0.02 earnings per share. Analysts expect that MaxLinear, Inc will post 0.78 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source