Handelsbanken Fonder AB Grows Stake in MaxLinear, Inc $MXL

Handelsbanken Fonder AB lifted its stake in shares of MaxLinear, Inc (NASDAQ:MXL) by 25.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,681 shares of the semiconductor company’s stock after purchasing an additional 7,400 shares during the period. Handelsbanken Fonder AB’s holdings in MaxLinear were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of MaxLinear during the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC increased its stake in shares of 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 purchasing an additional 1,039 shares in the last quarter. Quarry LP increased its stake in shares of MaxLinear by 1,293.0% during the third quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 2,030 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of MaxLinear by 917.6% during the third 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. Finally, Raymond James Financial Inc. purchased a new stake in shares of MaxLinear during the second quarter worth about $51,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Performance

NASDAQ:MXL opened at $101.10 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. The stock has a market capitalization of $9.05 billion, a P/E ratio of -66.51 and a beta of 3.95. The company has a 50 day moving average price of $49.40 and a 200 day moving average price of $28.70. MaxLinear, Inc has a fifty-two week low of $10.96 and a fifty-two week high of $106.28.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm had revenue of $137.19 million during the quarter, compared to analysts’ expectations of $137.15 million. During the same quarter last year, the company posted ($0.05) EPS. The firm’s quarterly revenue was up 43.0% on a year-over-year basis. Equities research analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current year.

Insider Activity at MaxLinear

In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $15.68, for a total value of $313,600.00. Following the completion of the transaction, the insider owned 343,435 shares of the company’s stock, valued at $5,385,060.80. This trade represents a 5.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Connie H. Kwong sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the transaction, the insider directly owned 13,947 shares of the company’s stock, valued at $1,352,301.12. This represents a 71.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 99,097 shares of company stock valued at $5,150,815 in the last three months. 7.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Susquehanna reaffirmed a “neutral” rating and set a $30.00 price objective on shares of MaxLinear in a research note on Monday, April 20th. Benchmark assumed coverage on shares of MaxLinear in a research note on Wednesday. They set a “buy” rating and a $125.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Needham & Company LLC raised shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, April 24th. Finally, Loop Capital raised shares of MaxLinear from a “hold” rating to a “buy” rating and upped their price objective for the company from $17.00 to $75.00 in a research note on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MaxLinear has a consensus rating of “Hold” and an average target price of $53.90.

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.