79,780 Shares in MaxLinear, Inc $MXL Acquired by Castleark Management LLC

Castleark Management LLC purchased a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 79,780 shares of the semiconductor company’s stock, valued at approximately $10,214,000. Castleark Management LLC owned about 0.09% of MaxLinear as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MXL. Larson Financial Group LLC grew its stake in MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 875 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of MaxLinear in the fourth quarter worth about $25,000. International Assets Investment Management LLC acquired a new position in shares of MaxLinear during the 4th quarter worth about $27,000. Finally, EverSource Wealth Advisors LLC boosted its stake in MaxLinear by 16.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 217 shares during the period. 90.79% of the stock is currently owned by institutional investors and hedge funds.

MaxLinear Price Performance

NASDAQ:MXL opened at $66.36 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The company has a 50-day moving average of $81.29 and a 200-day moving average of $57.96. MaxLinear, Inc has a 52 week low of $12.77 and a 52 week high of $128.30. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of -55.76 and a beta of 3.96.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The business had revenue of $168.85 million for the quarter, compared to analysts’ expectations of $164.64 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The firm’s revenue for the quarter was up 55.2% on a year-over-year basis. As a group, equities research analysts anticipate that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other news, CEO Kishore Seendripu sold 351,454 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 7.70% of the company’s stock.

Analysts Set New Price Targets

MXL has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Susquehanna increased their price target on shares of MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Stifel Nicolaus boosted their price objective on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Friday, July 17th. Finally, Benchmark began coverage on MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.00.

MaxLinear Company 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.