Allianz Asset Management GmbH Buys 197,126 Shares of MaxLinear, Inc $MXL

Allianz Asset Management GmbH lifted its stake in shares of MaxLinear, Inc (NASDAQ:MXL) by 127.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 352,034 shares of the semiconductor company’s stock after acquiring an additional 197,126 shares during the period. Allianz Asset Management GmbH owned approximately 0.40% of MaxLinear worth $5,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MXL. The Manufacturers Life Insurance Company boosted its stake in MaxLinear by 27.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock worth $41,054,000 after purchasing an additional 628,719 shares during the period. Geode Capital Management LLC lifted its holdings in shares of MaxLinear by 3.3% in the second quarter. Geode Capital Management LLC now owns 1,957,624 shares of the semiconductor company’s stock valued at $27,821,000 after purchasing an additional 62,083 shares in the last quarter. Marshall Wace LLP boosted its position in shares of MaxLinear by 239.0% during the second quarter. Marshall Wace LLP now owns 1,385,171 shares of the semiconductor company’s stock worth $19,683,000 after buying an additional 976,537 shares during the period. AIGH Capital Management LLC bought a new position in shares of MaxLinear during the third quarter worth about $17,809,000. Finally, Penserra Capital Management LLC bought a new position in shares of MaxLinear during the second quarter worth about $9,251,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.

MaxLinear Stock Down 0.8%

Shares of MXL stock opened at $18.86 on Wednesday. MaxLinear, Inc has a 52-week low of $8.35 and a 52-week high of $20.82. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -11.94 and a beta of 1.74. The firm’s 50-day moving average is $18.31 and its 200-day moving average is $16.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34.

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

MaxLinear declared that its Board of Directors has authorized a stock buyback plan on Monday, November 24th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on MXL shares. Benchmark boosted their target price on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Stifel Nicolaus set a $23.00 target price on shares of MaxLinear in a research report on Friday, October 24th. Williams Trading set a $25.00 price target on shares of MaxLinear in a research note on Friday, October 24th. Finally, Wells Fargo & Company increased their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. 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 company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.