MaxLinear, Inc $MXL Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its MaxLinear stake by 1.9%, selling 59,463 shares and retaining 2.997 million shares valued at approximately $52.1 million. Institutional investors collectively own 90.79% of the company.
• MaxLinear reported quarterly revenue of $168.85 million, up 55.2% year over year, and adjusted earnings of $0.35 per share, topping analyst expectations of $0.33.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy, four a Hold, and one a Sell, producing an overall Hold rating and an average price target of $85.00. Shares opened at $57.25, well below the 52-week high of $128.30.

The Manufacturers Life Insurance Company lowered its position in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,997,250 shares of the semiconductor company's stock after selling 59,463 shares during the period. The Manufacturers Life Insurance Company owned approximately 3.35% of MaxLinear worth $52,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in MaxLinear by 3.1% during the 1st quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company's stock valued at $789,000 after acquiring an additional 2,204 shares during the period. AQR Capital Management LLC raised its holdings in shares of MaxLinear by 56.0% during the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company's stock worth $3,218,000 after purchasing an additional 106,355 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in MaxLinear by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company's stock valued at $515,000 after purchasing an additional 2,043 shares during the period. Goldman Sachs Group Inc. boosted its holdings in MaxLinear by 0.4% in the first quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company's stock valued at $5,813,000 after purchasing an additional 2,039 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in MaxLinear by 23.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company's stock worth $1,980,000 after purchasing an additional 35,152 shares during the period. Institutional investors and hedge funds own 90.79% of the company's stock.

MaxLinear Trading Down 2.9%

Shares of MaxLinear stock opened at $57.25 on Thursday. The firm has a 50-day simple moving average of $88.20 and a two-hundred day simple moving average of $50.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. MaxLinear, Inc has a fifty-two week low of $12.77 and a fifty-two week high of $128.30. The company has a market cap of $5.13 billion, a P/E ratio of -48.11 and a beta of 3.91.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its 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. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The firm had revenue of $168.85 million for the quarter, compared to analysts' expectations of $164.64 million. During the same period last year, the firm earned $0.02 EPS. The company's quarterly revenue was up 55.2% on a year-over-year basis. As a group, equities analysts predict that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MXL shares. Wall Street Zen upgraded MaxLinear from a "hold" rating to a "buy" rating in a research note on Sunday. Benchmark initiated coverage on MaxLinear in a research note on Wednesday, May 27th. They issued a "buy" rating and a $125.00 target price on the stock. Loop Capital raised MaxLinear from a "hold" rating to a "buy" rating and raised their target price for the stock from $17.00 to $75.00 in a report on Wednesday, April 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MaxLinear in a research report on Friday, July 17th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $40.00 price target on shares of MaxLinear in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $85.00.

Insider Activity at MaxLinear

In other news, insider Connie H. Kwong sold 35,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the sale, the insider directly owned 13,947 shares in the company, valued at $1,352,301.12. The trade was 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 through this link. Also, Director Thomas E. Pardun sold 11,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the transaction, the director directly owned 55,252 shares of the company's stock, valued at approximately $5,801,460. The trade was a 16.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 7.70% of the stock is currently owned by company 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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