Assenagon Asset Management S.A. Sells 145,521 Shares of MaxLinear, Inc $MXL

Assenagon Asset Management S.A. lessened its holdings in MaxLinear, Inc (NASDAQ:MXL) by 58.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,927 shares of the semiconductor company’s stock after selling 145,521 shares during the period. Assenagon Asset Management S.A.’s holdings in MaxLinear were worth $1,825,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of MaxLinear by 3.1% in the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock valued at $789,000 after buying an additional 2,204 shares during the period. AQR Capital Management LLC lifted its holdings in shares of MaxLinear by 56.0% during the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock worth $3,218,000 after purchasing an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of MaxLinear by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock worth $515,000 after purchasing an additional 2,043 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in MaxLinear by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock worth $5,813,000 after buying an additional 2,039 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MaxLinear by 23.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock worth $1,980,000 after buying an additional 35,152 shares during the period. 90.79% of the stock is owned by institutional investors.

MaxLinear Stock Performance

Shares of MXL stock opened at $112.39 on Thursday. The firm has a 50 day moving average of $85.04 and a 200-day moving average of $41.87. The company has a market cap of $10.06 billion, a price-to-earnings ratio of -73.94 and a beta of 3.91. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. MaxLinear, Inc has a 52 week low of $12.77 and a 52 week high of $128.30.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $137.19 million during the quarter, compared to analyst estimates of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The firm’s revenue was up 43.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. On average, equities analysts forecast that MaxLinear, Inc will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the transaction, the insider owned 13,947 shares of the company’s stock, valued at $1,352,301.12. The trade was a 71.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction 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 sale, the director owned 55,252 shares of the company’s stock, valued at $5,801,460. This trade represents a 16.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 65,168 shares of company stock worth $5,559,358 in the last 90 days. Corporate insiders own 7.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MXL has been the subject of several recent research reports. Benchmark began coverage on MaxLinear in a research note on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price target for the company. Wall Street Zen cut MaxLinear from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Needham & Company LLC raised shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Friday, April 24th. Susquehanna restated a “neutral” rating and set a $30.00 price target on shares of MaxLinear in a report on Monday, April 20th. 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 report on Monday. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, MaxLinear has an average rating of “Hold” and an average target price of $65.50.

MaxLinear Company 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.