Arlington Capital Management INC Purchases New Shares in MaxLinear, Inc $MXL

Key Points

• Arlington Capital Management initiated a MaxLinear position in the third quarter, buying 41,927 shares worth about $3.79 million; the stock represents 2.2% of its portfolio.
• Institutional investors collectively own 90.79% of MaxLinear shares. CEO Kishore Seendripu separately sold 351,454 shares for approximately $30.2 million.
• MaxLinear beat quarterly earnings and revenue estimates, with revenue up 72.4% year over year. Analysts’ average rating is “Moderate Buy,” with an average price target of $94.30.

Arlington Capital Management INC purchased a new position in shares of MaxLinear, Inc (NASDAQ:MXL - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 41,927 shares of the semiconductor company's stock, valued at approximately $3,786,000. MaxLinear accounts for approximately 2.2% of Arlington Capital Management INC's investment portfolio, making the stock its 13th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MXL. Vise Technologies Inc. raised its position in MaxLinear by 25.4% during the 3rd quarter. Vise Technologies Inc. now owns 3,602 shares of the semiconductor company's stock worth $325,000 after buying an additional 730 shares during the last quarter. Summit Global Investments lifted its stake in shares of MaxLinear by 5.9% in the 3rd quarter. Summit Global Investments now owns 6,524 shares of the semiconductor company's stock worth $589,000 after acquiring an additional 365 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of MaxLinear in the 3rd quarter worth $506,000. Carolina Wealth Advisors LLC boosted its holdings in shares of MaxLinear by 65.0% in the third quarter. Carolina Wealth Advisors LLC now owns 612 shares of the semiconductor company's stock valued at $55,000 after acquiring an additional 241 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of MaxLinear by 856.6% in the third quarter. Sterling Capital Management LLC now owns 2,908 shares of the semiconductor company's stock valued at $263,000 after acquiring an additional 2,604 shares in the last quarter. 90.79% of the stock is currently 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 firm's stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of MaxLinear from a "hold" rating to a "buy" rating in a report on Sunday, July 26th. Zacks Research raised MaxLinear from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 28th. Morgan Stanley set a $125.00 target price on MaxLinear in a research report on Monday, September 14th. Needham & Company LLC increased their target price on MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of MaxLinear in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MaxLinear presently has an average rating of "Moderate Buy" and an average price target of $94.30.

MaxLinear Price Performance

Shares of NASDAQ:MXL opened at $63.97 on Wednesday. The business's 50 day simple moving average is $77.11 and its 200-day simple moving average is $59.81. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 97.35 and a beta of 3.97. MaxLinear, Inc has a 12 month low of $12.77 and a 12 month high of $128.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.22 and a quick ratio of 1.57.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share for the quarter, beating 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 company had revenue of $218.06 million for the quarter, compared to analyst estimates of $214.95 million. During the same quarter in the prior year, the company earned $0.14 earnings per share. MaxLinear's revenue was up 72.4% compared to the same quarter last year. As a group, equities analysts forecast that MaxLinear, Inc will post 1.10 earnings per share for the current fiscal year.

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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