California State Teachers Retirement System Grows Position in MaxLinear, Inc $MXL

Key Points

• California State Teachers Retirement System increased its MaxLinear stake by 28.4% in the first quarter to 104,040 shares, while institutional investors collectively own 90.79% of the company.
• MaxLinear reported quarterly EPS of $0.35, beating estimates of $0.33, while revenue rose 55.2% year over year to $168.85 million. Despite the earnings beat, the company posted a negative net margin of 18.24%.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy, four Hold, and one Sell, producing a consensus Hold rating and an average price target of $85, compared with the reported share price of $74.33.

California State Teachers Retirement System grew its position in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 28.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,040 shares of the semiconductor company's stock after purchasing an additional 22,993 shares during the period. California State Teachers Retirement System owned approximately 0.12% of MaxLinear worth $1,809,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP increased its position in MaxLinear by 14.3% during the 1st quarter. Quantinno Capital Management LP now owns 47,858 shares of the semiconductor company's stock worth $832,000 after purchasing an additional 5,982 shares in the last quarter. Entropy Technologies LP acquired a new position in MaxLinear during the first quarter valued at approximately $301,000. Renaissance Technologies LLC lifted its position in MaxLinear by 297.7% during the first quarter. Renaissance Technologies LLC now owns 445,913 shares of the semiconductor company's stock valued at $7,754,000 after buying an additional 333,800 shares in the last quarter. Sei Investments Co. grew its stake in MaxLinear by 108.3% during the first quarter. Sei Investments Co. now owns 405,224 shares of the semiconductor company's stock worth $7,047,000 after buying an additional 210,685 shares during the period. Finally, Globeflex Capital L P purchased a new stake in MaxLinear during the first quarter worth approximately $131,000. Hedge funds and other institutional investors own 90.79% of the company's stock.

MaxLinear Stock Up 7.7%

NASDAQ MXL opened at $74.33 on Thursday. The stock has a market cap of $6.74 billion, a PE ratio of -62.46 and a beta of 3.95. MaxLinear, Inc has a fifty-two week low of $12.77 and a fifty-two week high of $128.30. The business has a 50 day moving average price of $83.12 and a two-hundred day moving average price of $54.56. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The company had revenue of $168.85 million during the quarter, compared to the consensus estimate of $164.64 million. During the same quarter last year, the company earned $0.02 earnings per share. MaxLinear's revenue for the quarter was up 55.2% on a year-over-year basis. As a group, sell-side analysts predict that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MXL shares. Northland Securities set a $110.00 price objective on shares of MaxLinear in a research report on Wednesday, June 3rd. Needham & Company LLC lifted their target price on shares of MaxLinear from $60.00 to $100.00 and gave the company a "buy" rating in a report on Friday, July 24th. Wall Street Zen raised shares of MaxLinear from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. Wells Fargo & Company increased their price target on MaxLinear from $42.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, July 20th. Finally, Benchmark began coverage on MaxLinear in a research report on Wednesday, May 27th. They issued a "buy" rating and a $125.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MaxLinear currently has a consensus rating of "Hold" and an average price target of $85.00.

Insider Buying and Selling at MaxLinear

In related news, Director Thomas E. Pardun sold 11,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction 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 trade represents a 16.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.70% of the company's stock.

MaxLinear Company 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.

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