Summit Global Investments Acquires 8,935 Shares of MaxLinear, Inc $MXL

Summit Global Investments boosted its holdings in shares of MaxLinear, Inc (NASDAQ:MXL) by 15.4% in the first quarter, HoldingsChannel reports. 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’ holdings in MaxLinear were worth $1,164,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Pure Financial Advisors LLC purchased a new position in MaxLinear during the fourth quarter valued at $1,424,000. HighTower Advisors LLC grew its stake in shares of MaxLinear by 1.7% in the fourth quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock worth $11,440,000 after acquiring an additional 10,948 shares during the last quarter. Pictet Asset Management Holding SA purchased a new stake in shares of MaxLinear in the fourth quarter worth $190,000. Tudor Investment Corp ET AL increased its holdings in shares of MaxLinear by 68.5% during the third quarter. Tudor Investment Corp ET AL now owns 427,195 shares of the semiconductor company’s stock valued at $6,869,000 after acquiring an additional 173,709 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of MaxLinear by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock valued at $232,279,000 after acquiring an additional 605,903 shares in the last quarter. Institutional investors own 90.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Northland Securities set a $110.00 price target on shares of MaxLinear in a research note on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research note on Friday. Stifel Nicolaus lifted their target price on shares of MaxLinear from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and upped their target price for the stock from $17.00 to $75.00 in a research note on Wednesday, April 29th. Finally, Benchmark started coverage on shares of MaxLinear in a report on Wednesday, May 27th. They set a “buy” rating and a $125.00 price target on the stock. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.00.

MaxLinear Stock Up 14.7%

MXL stock opened at $86.06 on Wednesday. The stock has a market capitalization of $7.71 billion, a P/E ratio of -56.62 and a beta of 3.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.12. MaxLinear, Inc has a 1-year low of $12.77 and a 1-year high of $128.30. The business has a fifty day moving average price of $90.55 and a 200-day moving average price of $48.73.

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

Insider Activity

In related news, 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 sale, the insider owned 13,947 shares in the company, valued at approximately $1,352,301.12. This trade represents a 71.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director owned 55,252 shares in the company, valued at $5,801,460. This represents a 16.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 65,168 shares of company stock worth $5,559,358 in the last 90 days. Company insiders own 7.70% of the company’s stock.

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.