Hodges Capital Management Inc. Buys 72,579 Shares of MaxLinear, Inc $MXL

Key Points

• Hodges Capital Management increased its MaxLinear stake by 15.3% in the first quarter, adding 72,579 shares and bringing its total holding to 547,690 shares worth about $9.52 million.
• Wall Street sentiment is mixed: analysts currently average a “Hold” rating on MXL with a $65.50 price target, though some firms have issued much higher bullish targets up to $125.
• MaxLinear beat earnings expectations in its latest quarter, reporting $0.22 EPS versus $0.18 expected and revenue growth of 43% year over year, even as the stock has seen heavy insider selling in recent months.

Hodges Capital Management Inc. grew its position in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 547,690 shares of the semiconductor company's stock after acquiring an additional 72,579 shares during the quarter. Hodges Capital Management Inc. owned about 0.63% of MaxLinear worth $9,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its position in MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 875 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of MaxLinear by 103.0% during 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 period. Northwestern Mutual Wealth Management Co. bought a new position in shares of MaxLinear in the fourth quarter worth about $25,000. International Assets Investment Management LLC purchased a new position in MaxLinear in the 4th quarter worth about $27,000. Finally, EverSource Wealth Advisors LLC increased its stake in MaxLinear by 97.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company's stock worth $34,000 after buying an additional 1,039 shares during the period. 90.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MXL shares. Susquehanna restated a "neutral" rating and issued a $30.00 target price on shares of MaxLinear in a research note on Monday, April 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MaxLinear in a report on Tuesday, April 21st. Northland Securities set a $110.00 price objective on MaxLinear in a research note on Wednesday, June 3rd. Benchmark started coverage on MaxLinear in a report on Wednesday, May 27th. They set a "buy" rating and a $125.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $40.00 target price on shares of MaxLinear in a research report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $65.50.

MaxLinear Stock Performance

NASDAQ MXL opened at $93.12 on Monday. MaxLinear, Inc has a one year low of $12.77 and a one year high of $128.30. 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 company has a market capitalization of $8.34 billion, a price-to-earnings ratio of -61.26 and a beta of 3.91. The company's 50-day simple moving average is $87.41 and its two-hundred day simple moving average is $42.94.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $137.15 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The company's revenue was up 43.0% compared to the same quarter last year. Equities analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of the company's stock in a transaction 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 sale, the insider owned 13,947 shares in the company, valued at $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction 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 sale, the director directly owned 55,252 shares in the company, valued at $5,801,460. This trade represents a 16.60% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 65,168 shares of company stock valued at $5,559,358. 7.70% of the stock is owned by company 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.

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