MaxLinear, Inc $MXL Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its MaxLinear stake by 110.9% in the second quarter, adding 116,339 shares to own 221,266 shares valued at approximately $28.3 million. Institutional investors collectively hold 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. Analysts expect full-year EPS of $0.78.
• Despite analyst price-target increases, sentiment remains mixed: MaxLinear has a consensus “Hold” rating and an average price target of $85, compared with a recent share price of $74.98.

Assenagon Asset Management S.A. boosted its position in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 110.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 221,266 shares of the semiconductor company's stock after purchasing an additional 116,339 shares during the quarter. Assenagon Asset Management S.A. owned about 0.25% of MaxLinear worth $28,329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. CoreCap Advisors LLC purchased a new position in MaxLinear during the second quarter worth about $134,000. Larson Financial Group LLC boosted its holdings in shares of 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 purchasing an additional 875 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of 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 buying an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of MaxLinear during the 4th quarter valued at $25,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of MaxLinear during the 4th quarter worth $27,000. Institutional investors and hedge funds own 90.79% of the company's stock.

MaxLinear Stock Performance

NASDAQ MXL opened at $74.98 on Monday. MaxLinear, Inc has a 52 week low of $12.77 and a 52 week high of $128.30. The stock has a market cap of $6.80 billion, a P/E ratio of -63.01 and a beta of 3.96. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The company's fifty day simple moving average is $84.21 and its 200-day simple moving average is $53.48.

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

Wall Street Analyst Weigh In

MXL has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of MaxLinear from $42.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, July 20th. Wall Street Zen raised shares of MaxLinear from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. Susquehanna boosted their price objective on shares of MaxLinear from $45.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of MaxLinear in a research report on Friday, July 17th. Finally, Northland Securities set a $110.00 target price on shares of MaxLinear in a research note on Wednesday, June 3rd. 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $85.00.

Insiders Place Their Bets

In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 55,252 shares of the company's stock, valued at $5,801,460. This trade represents a 16.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.70% of the stock is currently owned by corporate insiders.

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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