Pictet Asset Management Holding SA Buys Shares of 10,884 MaxLinear, Inc $MXL

Key Points

• Pictet Asset Management Holding SA opened a new position in MaxLinear during the fourth quarter, buying 10,884 shares worth about $190,000.
• Institutional ownership in MaxLinear remains high, with hedge funds and other large investors holding 90.79% of the stock. Several firms recently increased their stakes, including Vanguard and The Manufacturers Life Insurance Company.
• MaxLinear reported strong quarterly results, with earnings of $0.22 per share topping estimates and revenue of $137.19 million, up 43% year over year. Analysts are mixed overall, with the consensus rating at Hold and a consensus price target of $44.20.

Pictet Asset Management Holding SA bought a new stake in MaxLinear, Inc (NASDAQ:MXL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,884 shares of the semiconductor company's stock, valued at approximately $190,000.

Several other large investors also recently added to or reduced their stakes in MXL. AIGH Capital Management LLC purchased a new stake in MaxLinear in the 3rd quarter valued at $17,809,000. The Manufacturers Life Insurance Company grew its holdings in MaxLinear by 27.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company's stock valued at $41,054,000 after buying an additional 628,719 shares in the last quarter. Vanguard Group Inc. grew its holdings in MaxLinear by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company's stock valued at $232,279,000 after buying an additional 605,903 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in MaxLinear by 279.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 769,349 shares of the semiconductor company's stock valued at $12,371,000 after buying an additional 566,800 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in MaxLinear by 31.8% in the 3rd quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company's stock valued at $29,366,000 after buying an additional 441,088 shares in the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Steven G. Litchfield sold 20,000 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $15.68, for a total transaction of $313,600.00. Following the transaction, the insider owned 343,435 shares of the company's stock, valued at approximately $5,385,060.80. This represents a 5.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction dated 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 transaction, the insider directly owned 13,947 shares in the company, valued at approximately $1,352,301.12. The trade was a 71.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 99,097 shares of company stock worth $5,150,815. 7.70% of the stock is owned by corporate insiders.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $102.27 on Tuesday. MaxLinear, Inc has a 52 week low of $10.96 and a 52 week high of $104.27. The business's fifty day simple moving average is $30.74 and its 200-day simple moving average is $22.03. The firm has a market cap of $9.16 billion, a PE ratio of -67.28 and a beta of 3.95. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The business had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. During the same quarter in the prior year, the company posted ($0.05) EPS. The company's quarterly revenue was up 43.0% on a year-over-year basis. Equities analysts forecast that MaxLinear, Inc will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Needham & Company LLC upgraded MaxLinear from a "hold" rating to a "buy" rating and set a $60.00 target price for the company in a report on Friday, April 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MaxLinear in a research note on Tuesday, April 21st. Benchmark upped their price target on MaxLinear from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, January 16th. Loop Capital raised MaxLinear from a "hold" rating to a "buy" rating and upped their price target for the company from $17.00 to $75.00 in a research note on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $40.00 price target on shares of MaxLinear in a research note on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $44.20.

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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