Ratan Capital Management LP Acquires New Holdings in MaxLinear, Inc $MXL

Key Points

• Ratan Capital Management acquired 107,581 MaxLinear shares valued at approximately $13.8 million, making the stock 4.4% of its portfolio and its 10th-largest holding.
• Institutional ownership remains high at 90.79%, while CEO Kishore Seendripu sold 351,454 shares for about $30.2 million; insiders own 7.70% of the company.
• MaxLinear beat quarterly earnings and revenue expectations, but analyst sentiment is mixed: the consensus rating is Hold with an average price target of $85, versus a recent share price of $61.73.

Ratan Capital Management LP bought a new position in MaxLinear, Inc (NASDAQ:MXL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 107,581 shares of the semiconductor company's stock, valued at approximately $13,774,000. MaxLinear accounts for 4.4% of Ratan Capital Management LP's investment portfolio, making the stock its 10th largest holding. Ratan Capital Management LP owned about 0.12% of MaxLinear at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in MaxLinear during the 2nd quarter worth $1,754,062,000. Vanguard Group Inc. grew its stake in MaxLinear by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company's stock valued at $232,279,000 after acquiring an additional 605,903 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of MaxLinear by 27.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company's stock worth $41,054,000 after acquiring an additional 628,719 shares in the last quarter. Invesco Ltd. increased its holdings 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of MaxLinear by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company's stock worth $35,531,000 after purchasing an additional 28,548 shares during the period. 90.79% of the stock is owned by institutional investors.

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 7.70% of the company's stock.

Wall Street Analyst Weigh In

MXL has been the topic of a number of research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MaxLinear in a research note on Friday, July 17th. Needham & Company LLC increased their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Roth Capital raised their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Wall Street Zen raised shares of MaxLinear from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. Finally, Stifel Nicolaus upped their target price on shares of MaxLinear from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Five 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $85.00.

MaxLinear Trading Down 2.7%

NASDAQ:MXL opened at $61.73 on Friday. The company has a market cap of $5.60 billion, a P/E ratio of -51.87 and a beta of 3.95. MaxLinear, Inc has a twelve month low of $12.77 and a twelve month high of $128.30. The business has a 50 day moving average price of $79.84 and a two-hundred day moving average price of $58.62. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The company had revenue of $168.85 million for the quarter, compared to the consensus estimate of $164.64 million. During the same period last year, the company earned $0.02 earnings per share. The firm's revenue was up 55.2% compared to the same quarter last year. As a group, analysts expect that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.

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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