Wakefield Asset Management LLLP Takes $1.01 Million Position in MaxLinear, Inc. (NYSE:MXL)

Wakefield Asset Management LLLP acquired a new stake in shares of MaxLinear, Inc. (NYSE:MXL) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 23,815 shares of the semiconductor company’s stock, valued at approximately $1,012,000.

A number of other hedge funds also recently modified their holdings of MXL. The Manufacturers Life Insurance Company boosted its holdings in MaxLinear by 17.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 648,538 shares of the semiconductor company’s stock valued at $22,102,000 after acquiring an additional 95,942 shares during the period. Victory Capital Management Inc. boosted its holdings in MaxLinear by 4.3% during the 1st quarter. Victory Capital Management Inc. now owns 9,202 shares of the semiconductor company’s stock valued at $314,000 after acquiring an additional 380 shares during the period. Envestnet Asset Management Inc. purchased a new stake in MaxLinear during the 1st quarter valued at about $219,000. Rhumbline Advisers boosted its holdings in MaxLinear by 2.0% during the 1st quarter. Rhumbline Advisers now owns 202,570 shares of the semiconductor company’s stock valued at $6,904,000 after acquiring an additional 3,890 shares during the period. Finally, Arizona State Retirement System boosted its holdings in MaxLinear by 1.8% during the 1st quarter. Arizona State Retirement System now owns 20,511 shares of the semiconductor company’s stock valued at $699,000 after acquiring an additional 367 shares during the period. Institutional investors own 82.70% of the company’s stock.

Several brokerages recently weighed in on MXL. Susquehanna Bancshares increased their target price on MaxLinear from $37.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, July 29th. Roth Capital increased their price objective on MaxLinear from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, September 2nd. Benchmark initiated coverage on MaxLinear in a report on Thursday, July 29th. They issued a “buy” rating and a $51.00 price objective for the company. Craig Hallum increased their price objective on MaxLinear from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on MaxLinear from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, July 29th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MaxLinear currently has an average rating of “Buy” and an average target price of $53.60.

MXL stock traded down $0.25 on Wednesday, reaching $52.08. 810 shares of the company traded hands, compared to its average volume of 569,566. MaxLinear, Inc. has a one year low of $21.85 and a one year high of $55.00. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.79 and a quick ratio of 1.32. The company has a market cap of $3.98 billion, a P/E ratio of -67.96, a price-to-earnings-growth ratio of 1.55 and a beta of 1.94. The firm has a fifty day simple moving average of $48.04 and a 200-day simple moving average of $40.84.

MaxLinear (NYSE:MXL) last posted its quarterly earnings data on Wednesday, July 28th. The semiconductor company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.20. MaxLinear had a positive return on equity of 18.89% and a negative net margin of 7.41%. The company had revenue of $205.38 million during the quarter, compared to analyst estimates of $205.13 million. On average, sell-side analysts forecast that MaxLinear, Inc. will post 1.68 EPS for the current year.

In related news, VP Brendan Walsh sold 10,000 shares of MaxLinear stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $53.50, for a total value of $535,000.00. Following the completion of the sale, the vice president now owns 146,932 shares of the company’s stock, valued at $7,860,862. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven G. Litchfield acquired 2,320 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The stock was purchased at an average cost of $53.85 per share, with a total value of $124,932.00. Following the acquisition, the insider now directly owns 112,009 shares of the company’s stock, valued at $6,031,684.65. The disclosure for this purchase can be found here. In the last three months, insiders acquired 6,904 shares of company stock valued at $374,709 and sold 207,637 shares valued at $9,860,801. 8.82% of the stock is currently owned by company insiders.

About MaxLinear

MaxLinear, Inc engages in the provision of radio frequency, high-performance analog and mixed-signal communications systems-on-chip solutions for the connected home, wired and wireless infrastructure, and industrial and multi-market applications. Its products include cable broadband modems and gateways, wireline connectivity devices, radio frequency transceivers, fiber-optic modules, video set-top boxes and gateways, hybrid analog and digital televisions, direct broadcast satellite outdoor and indoor units, and power management and interface products.

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Institutional Ownership by Quarter for MaxLinear (NYSE:MXL)

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