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

Key Points

• Assenagon Asset Management cut its stake in MaxLinear by 19.4% in Q4 to 250,448 shares (a 0.29% stake worth about $4.37M), and overall institutional ownership of the stock is approximately 90.79%.
• Analyst sentiment is mixed with a consensus rating of Hold and an average price target of $19.57; recent moves include Benchmark raising its target to $28 (buy) and Wells Fargo to $20 (equal weight), while Weiss reiterated a sell.
• Insiders have been selling—Steven Litchfield sold 20,000 shares at $17.50 and insiders disposed of 44,929 shares (~$746k) last quarter; MaxLinear reported Q4 EPS of $0.19 (beat) and revenue of $136.44M (up 48% YoY) but still shows a negative net margin (-29.23%) and negative ROE.

Assenagon Asset Management S.A. lessened its stake in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 19.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 250,448 shares of the semiconductor company's stock after selling 60,367 shares during the quarter. Assenagon Asset Management S.A. owned 0.29% of MaxLinear worth $4,365,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Summit Global Investments acquired a new stake in shares of MaxLinear in the 3rd quarter valued at $555,000. Lisanti Capital Growth LLC acquired a new position in shares of MaxLinear during the third quarter worth $1,180,000. AIGH Capital Management LLC acquired a new position in shares of MaxLinear during the third quarter worth $17,809,000. Essex Investment Management Co. LLC purchased a new position in MaxLinear in the third quarter valued at $3,864,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in MaxLinear in the third quarter valued at $1,571,000. 90.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MXL has been the subject of a number of recent analyst reports. Benchmark lifted their price target on MaxLinear from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Friday, January 16th. Wells Fargo & Company increased their price objective on MaxLinear from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Friday, January 30th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of MaxLinear in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $19.57.

Insider Buying and Selling

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

MaxLinear Price Performance

Shares of NASDAQ:MXL opened at $17.00 on Monday. The company's fifty day moving average price is $17.91 and its 200 day moving average price is $17.05. MaxLinear, Inc has a 12 month low of $8.35 and a 12 month high of $20.82. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.34 and a quick ratio of 0.92. The firm has a market capitalization of $1.47 billion, a P/E ratio of -10.76 and a beta of 1.70.

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

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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