Pure Financial Advisors LLC Makes New Investment in MaxLinear, Inc $MXL

Key Points

• Pure Financial Advisors LLC opened a new position in MaxLinear during the fourth quarter, buying 81,676 shares worth about $1.42 million.
• Institutional ownership of MaxLinear remains high, with hedge funds and other institutions holding about 90.79% of the stock, while insiders own 7.70%.
• MaxLinear reported quarterly EPS of $0.22, topping estimates, and revenue rose 43% year over year; however, analyst sentiment is mixed, with the stock carrying an average Hold rating and a $44.20 price target.

Pure Financial Advisors LLC purchased a new position in shares of MaxLinear, Inc (NASDAQ:MXL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 81,676 shares of the semiconductor company's stock, valued at approximately $1,424,000. Pure Financial Advisors LLC owned approximately 0.09% of MaxLinear at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of MaxLinear during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its stake in shares of MaxLinear by 97.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 1,039 shares in the last quarter. Quarry LP boosted its stake in shares of MaxLinear by 1,293.0% during the 3rd 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. Bessemer Group Inc. boosted its stake in shares of MaxLinear by 917.6% during the 3rd quarter. Bessemer Group Inc. now owns 3,175 shares of the semiconductor company's stock worth $51,000 after acquiring an additional 2,863 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of MaxLinear during the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 90.79% of the company's stock.

Insider Buying and Selling

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the transaction, the insider owned 13,947 shares of the company's stock, valued at $1,352,301.12. This represents a 71.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steven G. Litchfield sold 20,000 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $15.68, for a total value of $313,600.00. Following the transaction, the insider directly owned 343,435 shares in the company, valued at approximately $5,385,060.80. This represents a 5.50% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 99,097 shares of company stock worth $5,150,815. 7.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of MaxLinear in a research note on Tuesday, April 21st. Northland Securities set a $55.00 price target on MaxLinear in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $40.00 price target on shares of MaxLinear in a research note on Friday, April 24th. Roth Mkm raised MaxLinear from a "neutral" rating to a "buy" rating and set a $60.00 target price on the stock in a research note on Friday, April 24th. Finally, Susquehanna reaffirmed a "neutral" rating and issued a $30.00 target price on shares of MaxLinear in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MaxLinear has an average rating of "Hold" and an average price target of $44.20.

MaxLinear Price Performance

MXL stock opened at $99.83 on Monday. MaxLinear, Inc has a 1 year low of $10.96 and a 1 year high of $101.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. The stock's 50 day moving average price is $27.43 and its 200 day moving average price is $20.85. The firm has a market cap of $8.94 billion, a P/E ratio of -65.68 and a beta of 3.95.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm 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 earned ($0.05) EPS. MaxLinear's revenue was up 43.0% on a year-over-year basis. On average, sell-side analysts expect that MaxLinear, Inc will post 0.52 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.