Loomis Sayles & Co. L P Grows Stock Position in MaxLinear, Inc. (NYSE:MXL)

Loomis Sayles & Co. L P boosted its stake in MaxLinear, Inc. (NYSE:MXL) by 21.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,185,346 shares of the semiconductor company’s stock after acquiring an additional 207,616 shares during the quarter. Loomis Sayles & Co. L P’s holdings in MaxLinear were worth $40,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MXL. Norges Bank purchased a new position in MaxLinear in the 4th quarter worth approximately $41,691,000. UBS Asset Management Americas Inc. boosted its holdings in MaxLinear by 932.2% in the 4th quarter. UBS Asset Management Americas Inc. now owns 583,367 shares of the semiconductor company’s stock worth $22,279,000 after acquiring an additional 526,848 shares during the period. BlackRock Inc. boosted its holdings in MaxLinear by 3.2% in the 1st quarter. BlackRock Inc. now owns 11,044,516 shares of the semiconductor company’s stock worth $376,399,000 after acquiring an additional 345,907 shares during the period. Principal Financial Group Inc. boosted its holdings in MaxLinear by 55.1% in the 1st quarter. Principal Financial Group Inc. now owns 738,988 shares of the semiconductor company’s stock worth $25,184,000 after acquiring an additional 262,544 shares during the period. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in MaxLinear by 41.8% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 534,570 shares of the semiconductor company’s stock worth $18,218,000 after acquiring an additional 157,460 shares during the period. Hedge funds and other institutional investors own 82.82% of the company’s stock.

In related news, CEO Kishore Seendripu sold 9,562 shares of the firm’s stock in a transaction dated Thursday, May 13th. The stock was sold at an average price of $32.89, for a total transaction of $314,494.18. Following the completion of the transaction, the chief executive officer now owns 179,704 shares of the company’s stock, valued at $5,910,464.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Lougheed sold 4,976 shares of the firm’s stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $36.00, for a total value of $179,136.00. Following the transaction, the insider now directly owns 84,535 shares of the company’s stock, valued at approximately $3,043,260. The disclosure for this sale can be found here. Insiders sold 230,224 shares of company stock worth $8,747,384 over the last ninety days. 8.82% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on the company. Needham & Company LLC increased their target price on MaxLinear from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, April 29th. Zacks Investment Research cut MaxLinear from a “buy” rating to a “hold” rating in a research note on Wednesday, June 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $43.13.

MXL stock opened at $42.98 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 1.75. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -39.80, a P/E/G ratio of 1.50 and a beta of 1.98. MaxLinear, Inc. has a 12-month low of $20.91 and a 12-month high of $44.05. The firm’s 50 day moving average price is $39.22.

MaxLinear (NYSE:MXL) last issued its earnings results on Wednesday, April 28th. The semiconductor company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.05. MaxLinear had a positive return on equity of 10.95% and a negative net margin of 12.67%. The firm had revenue of $209.36 million for the quarter, compared to analyst estimates of $204.60 million. During the same period last year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 237.5% on a year-over-year basis. On average, equities research analysts forecast that MaxLinear, Inc. will post 1.38 earnings per share for the current fiscal year.

About MaxLinear

MaxLinear, Inc provides radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. Its products integrate various portions of a high-speed communication system, including radiofrequency (RF), high-performance analog, mixed-signal, digital signal processing, security engines, data compression, networking layers, and power management.

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Institutional Ownership by Quarter for MaxLinear (NYSE:MXL)

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