Revere Asset Management Inc Takes $1.14 Million Position in MaxLinear, Inc $MXL

Revere Asset Management Inc bought a new stake in MaxLinear, Inc (NASDAQ:MXL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,900 shares of the semiconductor company’s stock, valued at approximately $1,139,000. MaxLinear comprises about 0.4% of Revere Asset Management Inc’s investment portfolio, making the stock its 17th biggest holding.

Several other large investors have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in MaxLinear in the second quarter valued at approximately $1,754,062,000. California State Teachers Retirement System increased its position in MaxLinear by 12,029.5% during the second quarter. California State Teachers Retirement System now owns 12,619,533 shares of the semiconductor company’s stock worth $1,615,679,000 after purchasing an additional 12,515,493 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in MaxLinear during the second quarter worth approximately $165,221,000. AIGH Capital Management LLC purchased a new position in MaxLinear during the second quarter worth approximately $104,729,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MaxLinear in the 2nd quarter valued at $81,056,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MaxLinear

In related news, CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $85.95, for a total transaction of $30,207,471.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.70% of the stock is owned by insiders.

MaxLinear Stock Down 13.1%

Shares of NASDAQ:MXL traded down $9.78 during midday trading on Monday, hitting $64.79. 3,066,878 shares of the company’s stock traded hands, compared to its average volume of 3,102,480. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The company has a market cap of $5.88 billion, a PE ratio of -54.45 and a beta of 3.93. The firm’s fifty day moving average price is $72.81 and its two-hundred day moving average price is $62.10. MaxLinear, Inc has a twelve month low of $12.77 and a twelve month high of $128.30.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The firm had revenue of $168.85 million during the quarter, compared to the consensus estimate of $164.64 million. During the same period in the prior year, the firm earned $0.02 EPS. The firm’s quarterly revenue was up 55.2% compared to the same quarter last year. On average, equities research analysts anticipate that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MXL has been the subject of several research reports. Stifel Nicolaus boosted their price objective on shares of MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Roth Capital lifted their target price on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Benchmark started coverage on MaxLinear in a research report on Wednesday, May 27th. They set a “buy” rating and a $125.00 price target for the company. Wells Fargo & Company upped their price target on MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Finally, Needham & Company LLC lifted their price objective on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, MaxLinear presently has an average rating of “Hold” and a consensus target price of $88.64.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that designs and develops high-performance analog and mixed-signal integrated circuits. Its products are used in broadband communications, wired and wireless infrastructure, data center, networking, and industrial applications.

The company’s portfolio includes solutions for broadband access and connectivity, including cable and fiber-optic infrastructure, Ethernet and high-speed interconnects, optical communications, power management, interface products, and embedded processors.