Dynamic Technology Lab Private Ltd Invests $616,000 in MaxLinear, Inc $MXL

Dynamic Technology Lab Private Ltd bought a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,323 shares of the semiconductor company’s stock, valued at approximately $616,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in MaxLinear by 97.0% in the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 1,039 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of MaxLinear by 104.4% in the 2nd 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 in the last quarter. Bessemer Group Inc. increased its stake in shares of MaxLinear by 917.6% in the 3rd quarter. Bessemer Group Inc. now owns 3,175 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,863 shares in the last quarter. Raymond James Financial Inc. bought a new position in MaxLinear in the 2nd quarter worth $51,000. Finally, Strs Ohio bought a new position in MaxLinear in the 1st quarter worth $63,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MaxLinear

In related news, insider Steven G. Litchfield sold 20,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $17.50, for a total transaction of $350,000.00. Following the completion of the sale, the insider owned 368,364 shares in the company, valued at approximately $6,446,370. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 44,929 shares of company stock valued at $746,456 over the last three months. Corporate insiders own 7.80% of the company’s stock.

MaxLinear Stock Up 1.6%

MXL opened at $16.20 on Wednesday. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -10.25 and a beta of 1.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34. The firm’s fifty day moving average is $18.30 and its 200 day moving average is $16.96. MaxLinear, Inc has a fifty-two week low of $8.35 and a fifty-two week high of $20.82.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $136.44 million during the quarter, compared to analyst estimates of $134.82 million. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.MaxLinear’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) EPS. On average, sell-side analysts forecast that MaxLinear, Inc will post -0.37 earnings per share for the current fiscal year.

MaxLinear declared that its board has authorized a stock buyback program on Monday, November 24th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price target on MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, January 22nd. Finally, Benchmark lifted their price objective on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.57.

MaxLinear 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.