JPMorgan Chase & Co. Has $8.58 Million Stock Position in MaxLinear, Inc $MXL

JPMorgan Chase & Co. boosted its holdings in shares of MaxLinear, Inc (NASDAQ:MXL) by 21.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 533,743 shares of the semiconductor company’s stock after purchasing an additional 95,988 shares during the period. JPMorgan Chase & Co. owned about 0.61% of MaxLinear worth $8,583,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Amalgamated Bank raised its holdings in shares of MaxLinear by 3.5% during the 3rd quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock worth $373,000 after buying an additional 775 shares in the last quarter. Arizona State Retirement System grew its position in MaxLinear by 3.5% in the third quarter. Arizona State Retirement System now owns 24,295 shares of the semiconductor company’s stock valued at $391,000 after acquiring an additional 830 shares during the last quarter. Louisiana State Employees Retirement System grew its position in MaxLinear by 2.5% in the third quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the semiconductor company’s stock valued at $605,000 after acquiring an additional 900 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in MaxLinear by 97.0% during 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 in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in MaxLinear by 2.2% during the second quarter. Thrivent Financial for Lutherans now owns 57,796 shares of the semiconductor company’s stock worth $821,000 after acquiring an additional 1,226 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

Analysts Set New Price Targets

MXL has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, January 22nd. Benchmark upped their price objective on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Finally, Wells Fargo & Company raised their target price on shares of MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Two 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 MarketBeat, MaxLinear has a consensus rating of “Hold” and an average target price of $19.57.

MaxLinear Stock Performance

NASDAQ:MXL opened at $17.00 on Monday. The stock’s 50-day moving average is $17.91 and its 200-day moving average is $17.05. MaxLinear, Inc has a 1-year low of $8.35 and a 1-year high of $20.82. The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.47 billion, a P/E ratio of -10.76 and a beta of 1.70.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The business had revenue of $136.44 million during the quarter, compared to analyst estimates of $134.82 million. During the same quarter last year, the business earned ($0.09) EPS. The firm’s quarterly revenue was up 48.0% on a year-over-year basis. Equities research analysts anticipate that MaxLinear, Inc will post -0.37 earnings per share for the current year.

Insider Activity

In other news, insider Steven G. Litchfield sold 20,000 shares of MaxLinear stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $17.50, for a total transaction of $350,000.00. Following the transaction, the insider owned 368,364 shares in the company, valued at approximately $6,446,370. The trade was a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 44,929 shares of company stock worth $746,456 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

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.