MaxLinear, Inc $MXL Stock: Illinois Municipal Retirement Fund Reduces Stake

Illinois Municipal Retirement Fund lowered its position in MaxLinear, Inc (NASDAQ:MXL) by 34.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,247 shares of the semiconductor company’s stock after selling 19,224 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in MaxLinear were worth $3,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of MXL. BlackRock Inc. bought a new position in MaxLinear during the second quarter valued at approximately $1,754,062,000. The Manufacturers Life Insurance Company bought a new stake in shares of MaxLinear in the 2nd quarter worth approximately $165,221,000. AIGH Capital Management LLC bought a new stake in shares of MaxLinear in the 2nd quarter worth approximately $104,729,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of MaxLinear in the 2nd quarter valued at $81,056,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of MaxLinear in the 2nd quarter valued at $65,213,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Analysts Set New Price Targets

MXL has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of MaxLinear from $95.00 to $78.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 20th. Susquehanna set a $70.00 price target on shares of MaxLinear in a research note on Friday, October 23rd. Zacks Research raised shares of MaxLinear from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. Roth Capital upped their price target on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.30.

Insider Activity

In related news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

MaxLinear Trading Down 5.4%

MXL traded down $3.18 on Friday, hitting $55.78. 1,690,785 shares of the company were exchanged, compared to its average volume of 3,658,219. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.22. The firm has a fifty day simple moving average of $75.97 and a two-hundred day simple moving average of $61.21. The stock has a market capitalization of $5.08 billion, a PE ratio of -150.76 and a beta of 3.97. MaxLinear, Inc has a 12 month low of $12.77 and a 12 month high of $128.30.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.06. MaxLinear had a positive return on equity of 12.89% and a negative net margin of 4.45%. The firm had revenue of $218.06 million during the quarter, compared to the consensus estimate of $214.95 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s revenue was up 72.4% on a year-over-year basis. Sell-side analysts expect that MaxLinear, Inc will post 1.10 earnings per share for the current year.

MaxLinear Company Profile

MaxLinear, Inc. is a fabless semiconductor company that designs radio-frequency, analog and mixed-signal components, as well as system-on-chip products. Its technologies are used to move and process data in broadband, wireless, wired-networking and infrastructure applications. The company’s products support equipment such as broadband access devices, Wi-Fi systems, Ethernet and optical networking equipment, and wireless infrastructure. MaxLinear sells to customers around the world, including communications equipment manufacturers and other technology companies.