Bailard Inc. Invests $439,000 in MaxLinear, Inc $MXL

Bailard Inc. purchased a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 27,300 shares of the semiconductor company’s stock, valued at approximately $439,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in MaxLinear by 27.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock valued at $41,054,000 after buying an additional 628,719 shares during the period. Geode Capital Management LLC increased its stake in shares of MaxLinear by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,957,624 shares of the semiconductor company’s stock worth $27,821,000 after acquiring an additional 62,083 shares in the last quarter. Marshall Wace LLP lifted its position in MaxLinear by 239.0% during the 2nd quarter. Marshall Wace LLP now owns 1,385,171 shares of the semiconductor company’s stock valued at $19,683,000 after acquiring an additional 976,537 shares during the period. Penserra Capital Management LLC purchased a new position in MaxLinear during the 2nd quarter valued at about $9,251,000. Finally, Bank of America Corp DE boosted its stake in MaxLinear by 4.3% during the second quarter. Bank of America Corp DE now owns 536,682 shares of the semiconductor company’s stock worth $7,626,000 after acquiring an additional 22,238 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Benchmark raised their target price on shares of MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Stifel Nicolaus set a $23.00 price objective on MaxLinear in a research report on Friday, October 24th. Williams Trading set a $25.00 price objective on MaxLinear in a research note on Friday, October 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.29.

MaxLinear Price Performance

Shares of NASDAQ:MXL opened at $18.41 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.55. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -8.81 and a beta of 1.77. The business has a 50-day simple moving average of $17.45 and a two-hundred day simple moving average of $16.38. MaxLinear, Inc has a fifty-two week low of $8.35 and a fifty-two week high of $24.17.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Thursday, October 23rd. The semiconductor company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. MaxLinear had a negative net margin of 42.43% and a negative return on equity of 12.74%. The firm had revenue of $126.46 million during the quarter, compared to analyst estimates of $124.66 million. During the same period in the previous year, the business posted ($0.36) earnings per share. The business’s revenue for the quarter was up 56.0% on a year-over-year basis. On average, analysts expect that MaxLinear, Inc will post -0.37 earnings per share for the current year.

MaxLinear declared that its Board of Directors has initiated a stock repurchase program on Monday, November 24th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other MaxLinear news, Director Daniel A. Artusi sold 20,747 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $15.39, for a total transaction of $319,296.33. Following the completion of the sale, the director directly owned 12,141 shares in the company, valued at approximately $186,849.99. The trade was a 63.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.80% of the company’s stock.

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.