MaxLinear, Inc $MXL Shares Acquired by Algert Global LLC

Algert Global LLC lifted its holdings in shares of MaxLinear, Inc (NASDAQ:MXL) by 71.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 809,321 shares of the semiconductor company’s stock after acquiring an additional 337,898 shares during the period. Algert Global LLC owned approximately 0.93% of MaxLinear worth $13,014,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC grew its position in MaxLinear by 429.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 99,340 shares of the semiconductor company’s stock worth $1,597,000 after purchasing an additional 80,580 shares during the last quarter. Creative Planning grew its position in MaxLinear by 36.0% during the 3rd quarter. Creative Planning now owns 26,633 shares of the semiconductor company’s stock worth $428,000 after purchasing an additional 7,055 shares during the period. Polar Asset Management Partners Inc. purchased a new position in MaxLinear during the third quarter valued at approximately $3,057,000. Amundi lifted its stake in shares of MaxLinear by 8.4% in the 3rd quarter. Amundi now owns 27,203 shares of the semiconductor company’s stock valued at $449,000 after purchasing an additional 2,103 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of MaxLinear by 18.0% in the third quarter. California State Teachers Retirement System now owns 81,073 shares of the semiconductor company’s stock worth $1,304,000 after acquiring an additional 12,371 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

Wall Street Analysts Forecast Growth

MXL has been the topic of a number of recent analyst reports. Benchmark increased their target price on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Wells Fargo & Company boosted their price target on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.57.

MaxLinear Stock Up 2.4%

NASDAQ MXL opened at $16.89 on Monday. The business has a fifty day moving average price of $18.24 and a 200 day moving average price of $16.96. 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 company has a market cap of $1.46 billion, a P/E ratio of -10.69 and a beta of 1.70. MaxLinear, Inc has a one year low of $8.35 and a one year high of $20.82.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $136.44 million for the quarter, compared to analysts’ expectations of $134.82 million. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The firm’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) EPS. Research analysts anticipate that MaxLinear, Inc will post -0.37 EPS for the current fiscal year.

MaxLinear declared that its Board of Directors has approved a share buyback program on Monday, November 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Steven G. Litchfield sold 20,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were 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 of the company’s stock, valued at approximately $6,446,370. This represents a 5.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 44,929 shares of company stock worth $746,456 in the last quarter. Insiders own 7.80% of the company’s stock.

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.