SG Americas Securities LLC Invests $460,000 in MaxLinear, Inc $MXL

SG Americas Securities LLC acquired a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 28,586 shares of the semiconductor company’s stock, valued at approximately $460,000.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new stake in MaxLinear in the second quarter worth $44,000. PNC Financial Services Group Inc. grew its holdings in shares of MaxLinear by 104.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,579 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 1,828 shares during the last quarter. Raymond James Financial Inc. purchased a new position in MaxLinear in the 2nd quarter worth about $51,000. Strs Ohio bought a new stake in MaxLinear during the 1st quarter valued at about $63,000. Finally, GAMMA Investing LLC boosted its position in MaxLinear by 36.6% in the 2nd quarter. GAMMA Investing LLC now owns 5,143 shares of the semiconductor company’s stock valued at $73,000 after buying an additional 1,378 shares during the period. Institutional investors own 90.79% of the company’s stock.

Insider Transactions at MaxLinear

In related news, Director Daniel A. Artusi sold 20,747 shares of the 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 sale, the director directly owned 12,141 shares of the company’s stock, valued at approximately $186,849.99. This represents a 63.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.80% of the company’s stock.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $18.41 on Friday. The company has a 50 day moving average price of $17.45 and a 200 day moving average price of $16.39. The firm has a market capitalization of $1.61 billion, a P/E ratio of -8.81 and a beta of 1.77. The company has a quick ratio of 1.08, a current ratio of 1.55 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 $24.17.

MaxLinear (NASDAQ:MXL) last issued 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. The company had revenue of $126.46 million during the quarter, compared to analysts’ expectations of $124.66 million. MaxLinear had a negative return on equity of 12.74% and a negative net margin of 42.43%.The firm’s revenue was up 56.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.36) EPS. Sell-side analysts expect that MaxLinear, Inc will post -0.37 EPS for the current year.

MaxLinear announced that its Board of Directors has initiated a share buyback 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 purchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

MXL has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday. Williams Trading set a $25.00 price target on MaxLinear in a research note on Friday, October 24th. Stifel Nicolaus set a $23.00 price objective on shares of MaxLinear in a research note on Friday, October 24th. Finally, Benchmark increased their target price on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.29.

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.