SG Americas Securities LLC Cuts Position in MaxLinear, Inc $MXL

Key Points

• SG Americas Securities LLC sharply reduced its MaxLinear stake by 82.9% in the first quarter, selling 147,491 shares and ending with 30,359 shares worth about $528,000.
• Several other institutional investors were active in MXL, and the stock remains heavily owned by hedge funds and other institutions at 90.79% of outstanding shares.
• MaxLinear reported better-than-expected quarterly results, with EPS of $0.22 versus $0.18 expected and revenue up 43% year over year, while analysts currently have a consensus Hold rating with an average price target of $65.50.

SG Americas Securities LLC trimmed its stake in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 82.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,359 shares of the semiconductor company's stock after selling 147,491 shares during the period. SG Americas Securities LLC's holdings in MaxLinear were worth $528,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. 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 purchasing an additional 605,903 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of MaxLinear by 27.8% during the second 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 during the last quarter. Invesco Ltd. boosted its holdings in shares of MaxLinear by 419.9% in the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company's stock valued at $37,467,000 after buying an additional 1,736,141 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of MaxLinear by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company's stock valued at $35,531,000 after buying an additional 28,548 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of MaxLinear by 31.8% in the 3rd quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company's stock worth $29,366,000 after buying an additional 441,088 shares during the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MaxLinear

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

MaxLinear Price Performance

Shares of MaxLinear stock opened at $85.82 on Wednesday. The firm has a market cap of $7.68 billion, a PE ratio of -56.46 and a beta of 3.91. MaxLinear, Inc has a twelve month low of $12.77 and a twelve month high of $128.30. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $89.15 and a 200 day moving average price of $43.98.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on MXL shares. Benchmark initiated coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They set a "buy" rating and a $125.00 target price for the company. Susquehanna reaffirmed a "neutral" rating and set a $30.00 price target on shares of MaxLinear in a research report on Monday, April 20th. Stifel Nicolaus increased their price objective on MaxLinear from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, June 29th. Wall Street Zen raised MaxLinear from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $40.00 target price on shares of MaxLinear in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, MaxLinear currently has a consensus rating of "Hold" and an average price target of $65.50.

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.

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