Pure Financial Advisors LLC Takes Position in MaxLinear, Inc $MXL

Key Points

• Pure Financial Advisors LLC opened a new position in MaxLinear during the fourth quarter, buying 81,676 shares valued at about $1.42 million. The stake represented roughly 0.09% of the semiconductor company.
• MaxLinear reported strong quarterly results, posting EPS of $0.22 versus the expected $0.18, with revenue of $137.19 million that was up 43% year over year and essentially in line with estimates.
• Institutional ownership remains high at 90.79%, but insiders have been selling shares recently, including notable sales by Connie H. Kwong and Director Thomas E. Pardun. Analysts are mixed overall, with a consensus rating of Hold and an average target price of $65.

Pure Financial Advisors LLC purchased a new position in MaxLinear, Inc (NASDAQ:MXL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. grew its stake in shares of MaxLinear by 419.9% in the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company's stock worth $37,467,000 after acquiring an additional 1,736,141 shares during the last quarter. Paradigm Capital Management Inc. NY raised its position in shares of MaxLinear by 582.7% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 861,000 shares of the semiconductor company's stock worth $15,007,000 after purchasing an additional 734,875 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of 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 worth $41,054,000 after purchasing an additional 628,719 shares during the last quarter. Defiance ETFs LLC bought a new position in MaxLinear in the 4th quarter worth about $10,944,000. Finally, Vanguard Group Inc. boosted its stake in MaxLinear by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company's stock worth $232,279,000 after purchasing an additional 605,903 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company's stock.

MaxLinear Price Performance

MXL stock opened at $88.76 on Friday. The company has a market cap of $7.95 billion, a price-to-earnings ratio of -58.39 and a beta of 3.98. 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 business's 50-day moving average is $72.57 and its two-hundred day moving average is $37.07. MaxLinear, Inc has a fifty-two week low of $12.73 and a fifty-two week high of $106.28.

MaxLinear (NASDAQ:MXL - Get Free Report) last released its quarterly 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 business had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. During the same period in the previous year, the company posted ($0.05) EPS. The business's quarterly revenue was up 43.0% compared to the same quarter last year. As a group, analysts forecast that MaxLinear, Inc will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of MaxLinear in a research note on Tuesday, April 21st. Northland Securities set a $110.00 target price on shares of MaxLinear in a research note on Wednesday, June 3rd. Benchmark initiated coverage on shares of MaxLinear in a report on Wednesday, May 27th. They set a "buy" rating and a $125.00 price target on the stock. Needham & Company LLC raised shares of MaxLinear from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $40.00 price objective on shares of MaxLinear in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MaxLinear has an average rating of "Hold" and an average target price of $65.00.

Insider Buying and Selling

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the sale, the insider directly owned 13,947 shares of the company's stock, valued at approximately $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the transaction, the director owned 55,252 shares in the company, valued at $5,801,460. The trade was a 16.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 65,168 shares of company stock worth $5,559,358. 7.70% of the stock is currently owned by insiders.

MaxLinear 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.

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.