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

Key Points

• Assenagon Asset Management cut its MaxLinear stake by 25.3% in the third quarter, selling 55,884 shares and retaining 165,382 shares worth approximately $14.9 million. Institutional investors collectively own 90.79% of MXL.
• Analyst sentiment is mixed: five analysts rate the stock a Buy, three rate it Hold and one rates it Sell. The overall consensus is Hold, with an average price target of $88.64.
• MaxLinear reported quarterly EPS of $0.35 versus the $0.33 estimate and revenue of $168.85 million, up 55.2% year over year. CEO Kishore Seendripu separately sold 351,454 shares for about $30.2 million.

Assenagon Asset Management S.A. decreased its position in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 25.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,382 shares of the semiconductor company's stock after selling 55,884 shares during the quarter. Assenagon Asset Management S.A. owned about 0.18% of MaxLinear worth $14,936,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Triumph Capital Management raised its position in shares of MaxLinear by 54.2% during the third quarter. Triumph Capital Management now owns 24,041 shares of the semiconductor company's stock worth $2,171,000 after purchasing an additional 8,449 shares during the period. GK Wealth Management LLC lifted its holdings in shares of MaxLinear by 12.7% during the third quarter. GK Wealth Management LLC now owns 5,707 shares of the semiconductor company's stock valued at $515,000 after purchasing an additional 644 shares during the last quarter. Wedmont Private Capital boosted its position in shares of MaxLinear by 44.3% in the 3rd quarter. Wedmont Private Capital now owns 5,169 shares of the semiconductor company's stock valued at $484,000 after purchasing an additional 1,588 shares during the period. GAMMA Investing LLC boosted its position in shares of MaxLinear by 10.6% in the 3rd quarter. GAMMA Investing LLC now owns 6,802 shares of the semiconductor company's stock valued at $614,000 after purchasing an additional 650 shares during the period. Finally, QRG Capital Management Inc. acquired a new position in shares of MaxLinear in the 2nd quarter valued at $205,000. Institutional investors own 90.79% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on MXL shares. Needham & Company LLC upped their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the company a "buy" 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 Thursday. Roth Capital boosted their price target on shares of MaxLinear from $60.00 to $100.00 and gave the company a "buy" rating in a report on Friday, July 24th. Wall Street Zen upgraded shares of MaxLinear from a "hold" rating to a "buy" rating in a report on Sunday, July 26th. Finally, Wells Fargo & Company upped their price target on shares of MaxLinear from $42.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $88.64.

Insider Activity

In other news, CEO Kishore Seendripu sold 351,454 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.70% of the company's stock.

MaxLinear Stock Performance

Shares of NASDAQ MXL opened at $77.11 on Tuesday. The business's 50-day simple moving average is $77.66 and its 200-day simple moving average is $74.90. 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 52 week low of $12.77 and a 52 week high of $128.30. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 792.44 and a beta of 3.93.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate 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%. The firm's revenue for the quarter was up 55.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 EPS. As a group, equities research analysts expect that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.

The company's portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.

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