MaxLinear, Inc $MXL Shares Purchased by Tudor Investment Corp ET AL

Key Points

• Tudor Investment raised its stake in MaxLinear by 68.5% to 427,195 shares (about $6.87M), while other institutions also increased holdings and institutional ownership stands at roughly 90.8%.
• MaxLinear beat Q4 expectations with $0.19 EPS vs. $0.18 and revenue of $136.4M (up 48% YoY), but the company still shows a negative net margin (-29.23%) and negative return on equity.
• The Board approved a $75 million share buyback (up to ~5.8% of shares), even as insiders have recently sold stock and insiders now own about 7.8% of the company.

Tudor Investment Corp ET AL lifted its stake in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 68.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 427,195 shares of the semiconductor company's stock after acquiring an additional 173,709 shares during the period. Tudor Investment Corp ET AL owned 0.49% of MaxLinear worth $6,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MXL. Polar Asset Management Partners Inc. acquired a new stake in shares of MaxLinear in the third quarter valued at $3,057,000. PharVision Advisers LLC acquired a new position in MaxLinear during the third quarter worth about $213,000. Alyeska Investment Group L.P. grew its holdings in MaxLinear by 279.8% during the third quarter. Alyeska Investment Group L.P. now owns 769,349 shares of the semiconductor company's stock worth $12,371,000 after acquiring an additional 566,800 shares during the period. Quarry LP raised its position in 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 acquiring an additional 2,030 shares in the last quarter. Finally, Mariner LLC raised its position in MaxLinear by 9.9% in the third quarter. Mariner LLC now owns 40,017 shares of the semiconductor company's stock worth $643,000 after acquiring an additional 3,609 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Stock Up 3.5%

Shares of MaxLinear stock opened at $17.14 on Tuesday. MaxLinear, Inc has a 12-month low of $8.35 and a 12-month high of $20.82. The firm has a market capitalization of $1.48 billion, a PE ratio of -10.85 and a beta of 1.70. The company has a quick ratio of 0.92, a current ratio of 1.34 and a debt-to-equity ratio of 0.27. The stock's fifty day moving average is $18.02 and its 200-day moving average is $17.01.

MaxLinear (NASDAQ:MXL - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The business had revenue of $136.44 million during the quarter, compared to analyst estimates of $134.82 million. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.MaxLinear's revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) EPS. Equities analysts anticipate that MaxLinear, Inc will post -0.37 earnings per share for the current year.

MaxLinear announced that its Board of Directors has approved a stock buyback plan on Monday, November 24th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Friday, January 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MaxLinear in a report on Thursday, January 22nd. Finally, Benchmark increased their target price on shares of MaxLinear from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, MaxLinear currently has an average rating of "Hold" and an average price target of $19.57.

Insider Activity at MaxLinear

In other news, insider Steven G. Litchfield sold 20,000 shares of MaxLinear stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $17.50, for a total value of $350,000.00. Following the transaction, the insider directly owned 368,364 shares of the company's stock, valued at $6,446,370. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 44,929 shares of company stock valued at $746,456 in the last ninety days. Company insiders own 7.80% of the company's stock.

MaxLinear 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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