Connor Clark & Lunn Investment Management Ltd. Invests $81.06 Million in MaxLinear, Inc $MXL

Connor Clark & Lunn Investment Management Ltd. bought a new stake in MaxLinear, Inc (NASDAQ:MXL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 633,102 shares of the semiconductor company’s stock, valued at approximately $81,056,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.70% of MaxLinear at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MXL. Pure Financial Advisors LLC acquired a new stake in shares of MaxLinear during the fourth quarter worth $1,424,000. HighTower Advisors LLC boosted its position in shares of MaxLinear by 1.7% in the fourth quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock valued at $11,440,000 after acquiring an additional 10,948 shares during the period. Pictet Asset Management Holding SA acquired a new position in shares of MaxLinear in the fourth quarter valued at about $190,000. Assenagon Asset Management S.A. grew its stake in shares of MaxLinear by 110.9% in the second quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company’s stock valued at $28,329,000 after acquiring an additional 116,339 shares in the last quarter. Finally, AIGH Capital Management LLC bought a new position in MaxLinear during the second quarter worth about $104,729,000. Institutional investors own 90.79% of the company’s stock.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction 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 directly owned 55,252 shares in the company, valued at $5,801,460. This represents a 16.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The SEC filing for this sale provides additional information. Insiders have sold 602,454 shares of company stock valued at $51,589,671 over the last 90 days. Corporate insiders own 7.70% of the company’s stock.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $66.61 on Monday. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of -55.97 and a beta of 3.96. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. MaxLinear, Inc has a 12-month low of $12.77 and a 12-month high of $128.30. The firm’s 50-day moving average price is $82.17 and its two-hundred day moving average price is $57.29.

MaxLinear (NASDAQ:MXL) last posted 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 business had revenue of $168.85 million for the quarter, compared to analyst estimates of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS. On average, analysts forecast that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MXL has been the subject of several analyst reports. Needham & Company LLC lifted their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Wells Fargo & Company lifted their price target on shares of MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Northland Securities set a $110.00 price target on MaxLinear in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Five equities research 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, MaxLinear presently has a consensus rating of “Hold” and an average price target of $85.00.

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.