Dimensional Fund Advisors LP Grows Holdings in MaxLinear, Inc $MXL

Key Points

• Dimensional Fund Advisors increased its MaxLinear holdings by 7.2% in the first quarter, bringing its stake to 1.69 million shares worth approximately $29.4 million. Institutional investors collectively own 90.79% of the company.
• MaxLinear reported quarterly EPS of $0.35, beating estimates by $0.02, while revenue rose 55.2% year over year to $168.85 million. The stock opened at $72.72 and has traded between $12.77 and $128.30 over the past year.
• Analyst sentiment remains mixed: several firms upgraded the stock or raised price targets, but the consensus rating is “Hold” with an average target of $85. Insiders also sold shares, including a 35,000-share sale by an insider and an 11,000-share sale by a director.

Dimensional Fund Advisors LP raised its holdings in shares of MaxLinear, Inc (NASDAQ:MXL - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,689,692 shares of the semiconductor company's stock after purchasing an additional 113,058 shares during the period. Dimensional Fund Advisors LP owned about 1.89% of MaxLinear worth $29,376,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Royal Bank of Canada lifted its holdings in shares of MaxLinear by 3.1% in the 1st quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company's stock worth $789,000 after purchasing an additional 2,204 shares during the last quarter. AQR Capital Management LLC lifted its stake in MaxLinear by 56.0% in the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company's stock valued at $3,218,000 after buying an additional 106,355 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of MaxLinear by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company's stock valued at $515,000 after acquiring an additional 2,043 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of MaxLinear by 0.4% during the first quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company's stock valued at $5,813,000 after acquiring an additional 2,039 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of MaxLinear by 23.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company's stock worth $1,980,000 after acquiring an additional 35,152 shares during the last quarter. Institutional investors own 90.79% of the company's stock.

MaxLinear Trading Up 8.4%

MaxLinear stock opened at $72.72 on Wednesday. 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 0.26, a current ratio of 1.78 and a quick ratio of 1.15. The stock has a market capitalization of $6.59 billion, a PE ratio of -61.11 and a beta of 3.95. The firm has a 50 day simple moving average of $85.79 and a 200-day simple moving average of $52.39.

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

Insider Buying and Selling at MaxLinear

In related news, insider Connie H. Kwong sold 35,000 shares of the firm's stock in a transaction dated 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 trade represents a 71.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was 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 owned 55,252 shares in the company, valued at approximately $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 7.70% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MXL. Roth Capital increased their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Northland Securities set a $110.00 target price on shares of MaxLinear in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MaxLinear in a report on Friday, July 17th. Loop Capital raised MaxLinear from a "hold" rating to a "buy" rating and lifted their price target for the company from $17.00 to $75.00 in a report on Wednesday, April 29th. Finally, Wall Street Zen raised MaxLinear from a "hold" rating to a "buy" rating in a report on Sunday, July 26th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $85.00.

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.

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