Renaissance Technologies LLC Grows Stock Position in MaxLinear, Inc $MXL

Renaissance Technologies LLC lifted its stake in MaxLinear, Inc (NASDAQ:MXL) by 297.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 445,913 shares of the semiconductor company’s stock after buying an additional 333,800 shares during the quarter. Renaissance Technologies LLC’s holdings in MaxLinear were worth $7,754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC raised its position in MaxLinear by 161.7% during the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 875 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in MaxLinear in the 4th quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in shares of MaxLinear during the 4th quarter worth approximately $27,000. Finally, KBC Group NV acquired a new stake in shares of MaxLinear during the 1st quarter worth approximately $35,000. 90.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of the business’s 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the sale, the insider owned 13,947 shares of the company’s stock, valued at approximately $1,352,301.12. This trade represents a 71.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 7.70% of the stock is owned by corporate insiders.

MaxLinear Price Performance

Shares of NASDAQ MXL opened at $67.11 on Tuesday. The firm has a market cap of $6.09 billion, a PE ratio of -56.39 and a beta of 3.96. The firm has a fifty day moving average of $86.26 and a 200 day moving average of $52.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. MaxLinear, Inc has a one year low of $12.77 and a one year high of $128.30.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business 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 firm posted $0.02 earnings per share. The company’s revenue was up 55.2% compared to the same quarter last year. As a group, research analysts predict that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.

Analyst Ratings Changes

MXL has been the subject of several analyst reports. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and boosted their target price for the company from $17.00 to $75.00 in a research note on Wednesday, April 29th. Susquehanna lifted their price objective on shares of MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Wells Fargo & Company upped their price objective on shares of MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Northland Securities set a $110.00 target price on shares of MaxLinear in a research note on Wednesday, June 3rd. Finally, Roth Capital raised their target price on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and an average price target of $85.00.

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.