Vanguard Group Inc. Reduces Position in MaxLinear, Inc $MXL

Vanguard Group Inc. trimmed its holdings in MaxLinear, Inc (NASDAQ:MXL) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,720,484 shares of the semiconductor company’s stock after selling 94,083 shares during the quarter. Vanguard Group Inc. owned about 14.56% of MaxLinear worth $204,545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in MaxLinear by 104.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,579 shares of the semiconductor company’s stock worth $51,000 after buying an additional 1,828 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of MaxLinear by 917.6% in the third quarter. Bessemer Group Inc. now owns 3,175 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 2,863 shares during the period. Raymond James Financial Inc. acquired a new stake in MaxLinear during the second quarter worth about $51,000. Strs Ohio purchased a new position in MaxLinear during the first quarter worth about $63,000. Finally, Tower Research Capital LLC TRC boosted its holdings in MaxLinear by 369.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,716 shares of the semiconductor company’s stock valued at $138,000 after purchasing an additional 7,646 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

MXL has been the subject of a number of recent analyst reports. Benchmark raised their price target on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.57.

MaxLinear Stock Performance

Shares of MXL stock opened at $17.43 on Monday. The firm has a 50 day moving average of $18.44 and a two-hundred day moving average of $16.89. The stock has a market capitalization of $1.51 billion, a PE ratio of -11.03 and a beta of 1.74. The company has a quick ratio of 0.92, a current ratio of 1.34 and a debt-to-equity ratio of 0.27. MaxLinear, Inc has a 52 week low of $8.35 and a 52 week high of $20.82.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $136.44 million during the quarter, compared to analyst estimates of $134.82 million. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.MaxLinear’s revenue was up 48.0% compared to the same quarter last year. During the same period last year, the business posted ($0.09) earnings per share. On average, research analysts predict that MaxLinear, Inc will post -0.37 EPS for the current fiscal year.

MaxLinear announced that its board has initiated a stock buyback program on Monday, November 24th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.