Louisiana State Employees Retirement System Makes New $626,000 Investment in MaxLinear, Inc $MXL

Key Points

• Louisiana State Employees Retirement System opened a new position in MaxLinear during the first quarter, buying 36,000 shares valued at about $626,000.
• Several analysts turned more bullish on the semiconductor maker, with multiple firms upgrading the stock to Buy and price targets ranging as high as $125, though the overall consensus remains Hold.
• MaxLinear recently reported better-than-expected quarterly earnings of $0.22 per share and revenue of $137.19 million, with revenue up 43% year over year.

Louisiana State Employees Retirement System bought a new position in MaxLinear, Inc (NASDAQ:MXL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,000 shares of the semiconductor company's stock, valued at approximately $626,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MXL. Larson Financial Group LLC lifted 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 in the last quarter. Smartleaf Asset Management LLC boosted its stake in MaxLinear by 103.0% during the 4th 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 last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of MaxLinear in the 4th quarter worth $25,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear in the 4th quarter worth $27,000. Finally, Quarry LP raised its stake in shares of MaxLinear by 1,293.0% in the third quarter. Quarry LP now owns 2,187 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 2,030 shares during the last quarter. Institutional investors own 90.79% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MXL shares. Needham & Company LLC raised MaxLinear from a "hold" rating to a "buy" rating and set a $60.00 price objective on the stock in a research report on Friday, April 24th. Wall Street Zen raised MaxLinear from a "hold" rating to a "buy" rating in a research report on Sunday. Loop Capital upgraded shares of MaxLinear from a "hold" rating to a "buy" rating and upped their target price for the company from $17.00 to $75.00 in a research note on Wednesday, April 29th. Benchmark began coverage on shares of MaxLinear in a report on Wednesday, May 27th. They set a "buy" rating and a $125.00 price target on the stock. Finally, Northland Securities set a $110.00 price target on shares of MaxLinear in a research note on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $65.50.

MaxLinear Stock Performance

Shares of MXL opened at $85.82 on Wednesday. The firm has a market capitalization of $7.68 billion, a P/E ratio of -56.46 and a beta of 3.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.12. MaxLinear, Inc has a one year low of $12.77 and a one year high of $128.30. The business has a fifty day moving average of $89.15 and a 200 day moving average of $43.98.

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

Insider Buying and Selling

In related news, Director Thomas E. Pardun sold 11,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $5,801,460. The trade was a 16.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Connie H. Kwong sold 35,000 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the sale, the insider directly owned 13,947 shares of the company's stock, valued at approximately $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 65,168 shares of company stock worth $5,559,358. 7.70% of the stock is currently owned by 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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