HighTower Advisors LLC Grows Stock Position in MaxLinear, Inc $MXL

Key Points

• HighTower Advisors LLC increased its MaxLinear stake by 1.7% in the fourth quarter, buying 10,948 additional shares and bringing its total holding to 656,319 shares valued at about $11.44 million.
• MaxLinear reported better-than-expected quarterly earnings, posting EPS of $0.22 versus estimates of $0.18, while revenue came in essentially in line at $137.19 million and rose 43% from a year earlier.
• Analyst sentiment remains mixed: several firms recently raised or reiterated ratings and price targets, but the stock still carries a Hold consensus with an average price target of $44.20, even as shares traded near $99.16.

HighTower Advisors LLC raised its stake in shares of MaxLinear, Inc (NASDAQ:MXL - Free Report) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 656,319 shares of the semiconductor company's stock after buying an additional 10,948 shares during the period. HighTower Advisors LLC owned about 0.75% of MaxLinear worth $11,440,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in shares of MaxLinear by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company's stock worth $795,000 after acquiring an additional 632 shares in the last quarter. Amalgamated Bank boosted its stake in shares of MaxLinear by 3.5% during the 3rd quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company's stock worth $373,000 after acquiring an additional 775 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of MaxLinear by 3.5% during the 3rd quarter. Arizona State Retirement System now owns 24,295 shares of the semiconductor company's stock worth $391,000 after acquiring an additional 830 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of MaxLinear by 97.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 1,039 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of MaxLinear by 2.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 57,796 shares of the semiconductor company's stock worth $821,000 after acquiring an additional 1,226 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $40.00 target price on shares of MaxLinear in a research note on Friday, April 24th. Benchmark assumed coverage on shares of MaxLinear in a research note on Tuesday, May 12th. They set a "buy" rating and a $28.00 target price on the stock. Roth Mkm raised shares of MaxLinear from a "neutral" rating to a "buy" rating and set a $60.00 target price on the stock in a research note on Friday, April 24th. Northland Securities set a $55.00 target price on shares of MaxLinear in a research note on Friday, April 24th. Finally, Wells Fargo & Company increased their target price on shares of MaxLinear from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Friday, January 30th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $44.20.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $99.16 on Tuesday. The firm has a market capitalization of $8.88 billion, a PE ratio of -65.24 and a beta of 3.95. MaxLinear, Inc has a twelve month low of $10.96 and a twelve month high of $104.27. The firm's 50-day moving average price is $46.14 and its 200 day moving average price is $27.52. 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 (NASDAQ:MXL - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.04. The firm had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. MaxLinear's quarterly revenue was up 43.0% compared to the same quarter last year. During the same period last year, the company posted ($0.05) EPS. On average, sell-side analysts predict that MaxLinear, Inc will post 0.52 EPS for the current fiscal year.

Insider Transactions 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 shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the transaction, the insider directly owned 13,947 shares of the company's stock, valued at approximately $1,352,301.12. This trade represents a 71.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven G. Litchfield sold 20,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $15.68, for a total transaction of $313,600.00. Following the completion of the sale, the insider owned 343,435 shares of the company's stock, valued at approximately $5,385,060.80. The trade was a 5.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 99,097 shares of company stock worth $5,150,815 over the last ninety days. 7.70% of the stock is currently owned by corporate insiders.

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.

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.