MaxLinear, Inc $MXL Shares Sold by Rathbones Group PLC

Rathbones Group PLC trimmed its stake in MaxLinear, Inc (NASDAQ:MXL) by 41.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 11,320 shares of the semiconductor company’s stock after selling 8,100 shares during the period. Rathbones Group PLC’s holdings in MaxLinear were worth $197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Invesco Ltd. lifted its position in MaxLinear by 419.9% in the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock valued at $37,467,000 after acquiring an additional 1,736,141 shares during the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of MaxLinear by 582.7% during the fourth 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 increased 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 worth $41,054,000 after purchasing an additional 628,719 shares in the last quarter. Defiance ETFs LLC acquired a new stake in shares of MaxLinear during the fourth quarter worth about $10,944,000. Finally, Vanguard Group Inc. lifted its holdings in shares of MaxLinear by 4.8% in the 4th 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. 90.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MXL has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Friday, July 17th. Wall Street Zen raised MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Northland Securities set a $110.00 price objective on MaxLinear in a research note on Wednesday, June 3rd. Susquehanna increased their price objective on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Roth Capital increased their price objective on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MaxLinear currently has an average rating of “Hold” and an average price target of $85.00.

MaxLinear Trading Up 4.1%

NASDAQ MXL opened at $70.20 on Friday. The firm’s fifty day moving average is $84.57 and its two-hundred day moving average is $53.09. MaxLinear, Inc has a one year low of $12.77 and a one year high of $128.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The firm has a market cap of $6.37 billion, a PE ratio of -58.99 and a beta of 3.95.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $164.64 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 55.2% compared to the same quarter last year. Analysts expect that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Insider Transactions at MaxLinear

In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of the company’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 of the company’s stock, valued at $5,801,460. This represents a 16.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.70% of the stock is owned by company insiders.

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.