AIGH Capital Management LLC Sells 218,000 Shares of MaxLinear, Inc $MXL

Key Points

• AIGH Capital cut its MaxLinear stake by 26.7%, selling 218,000 shares in the third quarter. It still held 600,000 shares, valued at about $54.2 million, making MXL 5.5% of its portfolio.
• MaxLinear reported quarterly EPS of $0.62, above the $0.56 consensus estimate, while revenue rose 72.4% year over year to $218.1 million.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $94.30; ratings included six Buy or Strong Buy, three Hold, and one Sell.

AIGH Capital Management LLC lowered its position in shares of MaxLinear, Inc (NASDAQ:MXL - Free Report) by 26.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 600,000 shares of the semiconductor company's stock after selling 218,000 shares during the quarter. MaxLinear comprises 5.5% of AIGH Capital Management LLC's investment portfolio, making the stock its 4th biggest holding. AIGH Capital Management LLC owned about 0.66% of MaxLinear worth $54,186,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MXL. BlackRock Inc. acquired a new position in shares of MaxLinear in the 2nd quarter valued at about $1,754,062,000. Dimensional Fund Advisors LP boosted its stake in MaxLinear by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,689,692 shares of the semiconductor company's stock worth $29,376,000 after acquiring an additional 113,058 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in MaxLinear during the second quarter worth $165,221,000. Bank of America Corp DE boosted its stake in MaxLinear by 6.9% during the first quarter. Bank of America Corp DE now owns 641,034 shares of the semiconductor company's stock worth $11,148,000 after acquiring an additional 41,119 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in MaxLinear in the second quarter worth $81,056,000. Institutional investors own 90.79% of the company's stock.

MaxLinear Stock Performance

Shares of MXL opened at $44.31 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.22. The stock has a 50 day moving average price of $76.55 and a two-hundred day moving average price of $60.12. The firm has a market capitalization of $4.03 billion, a P/E ratio of 90.24 and a beta of 3.97. 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 issued its quarterly earnings data on Thursday, October 22nd. The semiconductor company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.56 by $0.06. MaxLinear had a positive return on equity of 12.89% and a negative net margin of 4.45%. The firm had revenue of $218.06 million during the quarter, compared to the consensus estimate of $214.95 million. During the same period in the prior year, the business posted $0.14 earnings per share. The company's quarterly revenue was up 72.4% compared to the same quarter last year. Equities analysts forecast that MaxLinear, Inc will post 1.10 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Needham & Company LLC lifted their price target on shares of MaxLinear from $60.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Susquehanna set a $70.00 price objective on shares of MaxLinear in a research report on Friday, October 23rd. Stifel Nicolaus raised their target price on MaxLinear from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Zacks Research raised MaxLinear from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 28th. Finally, Morgan Stanley set a $125.00 target price on MaxLinear in a research report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $94.30.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.70% of the stock is owned by insiders.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.

The company's portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.

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