Assenagon Asset Management S.A. Has $1.82 Million Position in MaxLinear, Inc $MXL

Key Points

• Assenagon Asset Management cut its MaxLinear stake by 58.1% in the first quarter, leaving it with 104,927 shares valued at about $1.82 million.
• Several analysts updated their views on MXL, with Roth Mkm and Needham upgrading the stock to buy, while the overall consensus remains Hold with an average price target of $65.50.
• Insiders have been selling shares: Connie H. Kwong and Director Thomas E. Pardun both reduced holdings, and insider sales totaled 65,168 shares worth about $5.56 million over the past three months.

Assenagon Asset Management S.A. cut its position in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 58.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 104,927 shares of the semiconductor company's stock after selling 145,521 shares during the period. Assenagon Asset Management S.A. owned about 0.12% of MaxLinear worth $1,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MXL. Larson Financial Group LLC boosted its stake in MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 875 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in MaxLinear during the 4th quarter worth about $25,000. International Assets Investment Management LLC acquired a new position in MaxLinear during the fourth quarter valued at approximately $27,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of MaxLinear by 97.0% in the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company's stock valued at $34,000 after buying an additional 1,039 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Susquehanna reiterated a "neutral" rating and issued a $30.00 price target on shares of MaxLinear in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $40.00 target price on shares of MaxLinear in a report on Friday, April 24th. Roth Mkm upgraded shares of MaxLinear from a "neutral" rating to a "buy" rating and set a $60.00 target price for the company in a research note on Friday, April 24th. Needham & Company LLC upgraded MaxLinear from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a report on Friday, April 24th. Finally, Wall Street Zen downgraded MaxLinear from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Five 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. According to data from MarketBeat, MaxLinear currently has an average rating of "Hold" and an average price target of $65.50.

Insider Activity at MaxLinear

In related news, insider Connie H. Kwong sold 35,000 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the sale, the insider directly owned 13,947 shares in the company, valued at $1,352,301.12. The trade was a 71.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction 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 transaction, the director owned 55,252 shares in the company, valued at $5,801,460. The trade was a 16.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 65,168 shares of company stock valued at $5,559,358. 7.70% of the stock is currently owned by insiders.

MaxLinear Stock Performance

NASDAQ MXL opened at $112.39 on Thursday. The stock has a market cap of $10.06 billion, a PE ratio of -73.94 and a beta of 3.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. The firm has a 50-day moving average of $85.04 and a 200-day moving average of $41.87. 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 released its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm had revenue of $137.19 million for the quarter, compared to analysts' expectations of $137.15 million. During the same period in the prior year, the firm earned ($0.05) EPS. The business's revenue was up 43.0% on a year-over-year basis. On average, sell-side analysts anticipate that MaxLinear, Inc will post 0.52 EPS for the current year.

About MaxLinear

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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