MaxLinear, Inc $MXL Stake Lowered by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in MaxLinear, Inc (NASDAQ:MXL) by 51.8% during the first quarter, HoldingsChannel reports. The fund owned 24,228 shares of the semiconductor company’s stock after selling 26,088 shares during the quarter. Hsbc Holdings PLC’s holdings in MaxLinear were worth $419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MXL. Invesco Ltd. boosted its position in MaxLinear by 419.9% during the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock valued at $37,467,000 after purchasing an additional 1,736,141 shares during the last quarter. Paradigm Capital Management Inc. NY increased its position in MaxLinear by 582.7% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 861,000 shares of the semiconductor company’s stock worth $15,007,000 after purchasing an additional 734,875 shares during the last quarter. The Manufacturers Life Insurance Company increased its position 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 last quarter. Defiance ETFs LLC purchased a new stake in shares of MaxLinear during the 4th quarter worth about $10,944,000. Finally, Vanguard Group Inc. raised its stake in shares of MaxLinear by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock worth $232,279,000 after purchasing an additional 605,903 shares in the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Loop Capital raised MaxLinear from a “hold” rating to a “buy” rating and boosted their price target for the company from $17.00 to $75.00 in a research note on Wednesday, April 29th. Stifel Nicolaus raised their price objective on shares of MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Northland Securities set a $110.00 price objective on shares of MaxLinear in a research report on Wednesday, June 3rd. Needham & Company LLC lifted their target price on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, MaxLinear has an average rating of “Hold” and a consensus target price of $85.00.

Insider Activity at MaxLinear

In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director owned 55,252 shares of the company’s stock, valued at $5,801,460. This represents a 16.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the transaction, the insider owned 13,947 shares in the company, valued at approximately $1,352,301.12. This trade represents a 71.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 7.70% of the stock is currently owned by insiders.

MaxLinear Price Performance

NASDAQ MXL opened at $66.82 on Friday. MaxLinear, Inc has a fifty-two week low of $12.77 and a fifty-two week high of $128.30. The stock’s 50-day moving average is $86.90 and its two-hundred day moving average is $51.43. The firm has a market cap of $6.06 billion, a P/E ratio of -56.15 and a beta of 3.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15.

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

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.