BNP Paribas Financial Markets Purchases 224,217 Shares of MaxLinear, Inc $MXL

Key Points

• BNP Paribas Financial Markets increased its MaxLinear stake by 42% in the fourth quarter, buying 224,217 additional shares and bringing its total holdings to 758,109 shares worth about $13.2 million.
• Insider selling has been notable: company insiders sold 65,168 shares over the past three months, including sizable sales by Connie H. Kwong and Director Thomas E. Pardun.
• MaxLinear reported better-than-expected quarterly results, with EPS of $0.22 and revenue of $137.19 million, while analysts currently have a mixed outlook with a consensus Hold rating and $65 price target.

BNP Paribas Financial Markets grew its stake in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 42.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 758,109 shares of the semiconductor company's stock after acquiring an additional 224,217 shares during the quarter. BNP Paribas Financial Markets owned about 0.88% of MaxLinear worth $13,214,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC grew its stake in MaxLinear by 161.7% during the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company's stock worth $25,000 after buying an additional 875 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in MaxLinear during the 4th quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in MaxLinear during the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its stake in MaxLinear by 97.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 1,039 shares during the last quarter. Finally, Quarry LP grew its stake in MaxLinear by 1,293.0% during the 3rd quarter. Quarry LP now owns 2,187 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 2,030 shares during 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, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the transaction, the insider owned 13,947 shares of the company's stock, valued at $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total value of $1,155,000.00. Following the completion of the sale, the director directly owned 55,252 shares of the company's stock, valued at approximately $5,801,460. This represents a 16.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 65,168 shares of company stock valued at $5,559,359 in the last three months. Insiders own 7.70% of the company's stock.

MaxLinear Stock Performance

Shares of MXL stock opened at $80.92 on Monday. The company has a market capitalization of $7.25 billion, a P/E ratio of -53.24 and a beta of 3.98. The business's 50 day moving average is $59.66 and its two-hundred day moving average is $32.45. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. MaxLinear, Inc has a 12-month low of $11.63 and a 12-month high of $106.28.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.04. The company had revenue of $137.19 million for the quarter, compared to the consensus estimate of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.MaxLinear's revenue for the quarter was up 43.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Analysts expect that MaxLinear, Inc will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on MXL shares. Weiss Ratings restated a "sell (d-)" rating on shares of MaxLinear in a research note on Tuesday, April 21st. Benchmark began coverage on shares of MaxLinear in a report on Wednesday, May 27th. They issued a "buy" rating and a $125.00 price objective on the stock. Susquehanna restated a "neutral" rating and set a $30.00 target price on shares of MaxLinear in a research report on Monday, April 20th. Needham & Company LLC upgraded shares of MaxLinear from a "hold" rating to a "buy" rating and set a $60.00 target price for the company in a research report on Friday, April 24th. Finally, Northland Securities set a $110.00 target price on shares of MaxLinear in a research report on Wednesday. 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. According to MarketBeat.com, MaxLinear presently has an average rating of "Hold" and a consensus price target of $65.00.

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.

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.