Victory Capital Management Inc. Grows Stake in MaxLinear, Inc (NASDAQ:MXL)

Victory Capital Management Inc. grew its stake in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 30.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,067,728 shares of the semiconductor company's stock after buying an additional 251,797 shares during the quarter. Victory Capital Management Inc. owned approximately 1.26% of MaxLinear worth $11,596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MXL. Raymond James Financial Inc. purchased a new stake in MaxLinear in the fourth quarter worth about $1,671,000. PNC Financial Services Group Inc. grew its position in shares of MaxLinear by 95.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,891 shares of the semiconductor company's stock worth $77,000 after purchasing an additional 1,900 shares in the last quarter. Swiss National Bank grew its position in shares of MaxLinear by 1.6% during the fourth quarter. Swiss National Bank now owns 156,773 shares of the semiconductor company's stock worth $3,101,000 after purchasing an additional 2,500 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of MaxLinear during the fourth quarter worth about $322,000. Finally, Wellington Management Group LLP purchased a new stake in shares of MaxLinear during the fourth quarter worth about $3,709,000. Hedge funds and other institutional investors own 90.79% of the company's stock.

Insider Activity

In other news, Director Ted L. Tewksbury III sold 6,071 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $10.40, for a total value of $63,138.40. Following the completion of the sale, the director directly owned 74,995 shares of the company's stock, valued at $779,948. This trade represents a 7.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.80% of the stock is owned by insiders.

MaxLinear Trading Down 5.2%

Shares of NASDAQ:MXL traded down $0.89 during trading on Friday, hitting $16.36. The company had a trading volume of 2,783,894 shares, compared to its average volume of 1,549,865. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -6.62 and a beta of 1.72. MaxLinear, Inc has a one year low of $8.35 and a one year high of $25.73. The company has a fifty day simple moving average of $13.49 and a two-hundred day simple moving average of $14.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.55 and a quick ratio of 1.19.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $108.81 million during the quarter, compared to analyst estimates of $104.94 million. MaxLinear had a negative return on equity of 18.16% and a negative net margin of 55.53%. The company's revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the company earned ($0.25) EPS. As a group, equities analysts forecast that MaxLinear, Inc will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MXL shares. Benchmark increased their target price on MaxLinear from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday. Wells Fargo & Company increased their target price on MaxLinear from $13.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday. Stifel Nicolaus increased their target price on MaxLinear from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Susquehanna increased their target price on MaxLinear from $11.00 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Roth Capital set a $11.00 target price on MaxLinear and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, MaxLinear presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.69.

About MaxLinear

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.