Summit Global Investments Boosts Stake in MaxLinear, Inc $MXL

Summit Global Investments lifted its stake in shares of MaxLinear, Inc (NASDAQ:MXL) by 15.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 66,942 shares of the semiconductor company’s stock after acquiring an additional 8,935 shares during the period. Summit Global Investments owned approximately 0.07% of MaxLinear worth $1,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 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 purchasing an additional 875 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of MaxLinear by 103.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 726 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of MaxLinear in the 4th quarter worth about $25,000. International Assets Investment Management LLC bought a new position in shares of MaxLinear during the 4th quarter valued at about $27,000. Finally, KBC Group NV bought a new position in shares of MaxLinear during the 1st quarter valued at about $35,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MXL has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report on Friday. Wells Fargo & Company upped their price objective on shares of MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday. Needham & Company LLC raised shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $40.00 target price on shares of MaxLinear in a research report on Friday, April 24th. Finally, Stifel Nicolaus boosted their price target on shares of MaxLinear from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.00.

Insider Activity

In other news, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the completion of the transaction, the director owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. This represents a 16.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Connie H. Kwong sold 35,000 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 SEC filing for this sale provides additional information. Insiders sold 65,168 shares of company stock valued at $5,559,358 over the last 90 days. 7.70% of the stock is currently owned by company insiders.

MaxLinear Stock Up 14.7%

Shares of NASDAQ MXL opened at $86.06 on Wednesday. The firm has a fifty day simple moving average of $90.55 and a two-hundred day simple moving average of $48.73. MaxLinear, Inc has a 12 month low of $12.77 and a 12 month high of $128.30. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $7.71 billion, a PE ratio of -56.62 and a beta of 3.91.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was up 43.0% compared to the same quarter last year. Equities analysts expect that MaxLinear, Inc will post 0.5 earnings per share for the current year.

MaxLinear 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.