Wakefield Asset Management LLLP Makes New Investment in MaxLinear, Inc. (NYSE:MXL)

Wakefield Asset Management LLLP acquired a new stake in MaxLinear, Inc. (NYSE:MXL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 23,815 shares of the semiconductor company’s stock, valued at approximately $1,012,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MXL. Alpha Paradigm Partners LLC acquired a new stake in shares of MaxLinear in the 1st quarter valued at approximately $146,000. The PNC Financial Services Group Inc. boosted its holdings in shares of MaxLinear by 23.4% in the 1st quarter. The PNC Financial Services Group Inc. now owns 5,244 shares of the semiconductor company’s stock valued at $179,000 after buying an additional 994 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of MaxLinear in the 1st quarter valued at approximately $194,000. Envestnet Asset Management Inc. acquired a new stake in MaxLinear during the 1st quarter valued at $219,000. Finally, Level Four Advisory Services LLC acquired a new stake in MaxLinear during the 1st quarter valued at $237,000. 82.70% of the stock is owned by institutional investors.

MXL has been the subject of several research reports. Benchmark initiated coverage on MaxLinear in a report on Thursday, July 29th. They set a “buy” rating and a $51.00 price target for the company. Craig Hallum increased their price objective on MaxLinear from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Susquehanna increased their price objective on MaxLinear from $37.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on MaxLinear from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, July 29th. Finally, Zacks Investment Research upgraded MaxLinear from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective on the stock in a research report on Wednesday, August 4th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.60.

MaxLinear stock traded down $0.25 during midday trading on Wednesday, reaching $52.08. The company’s stock had a trading volume of 810 shares, compared to its average volume of 569,566. MaxLinear, Inc. has a 52 week low of $21.85 and a 52 week high of $55.00. The company has a current ratio of 1.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average price of $48.04 and a 200-day moving average price of $40.84. The stock has a market cap of $3.98 billion, a PE ratio of -67.96, a price-to-earnings-growth ratio of 1.55 and a beta of 1.94.

MaxLinear (NYSE:MXL) last released its earnings results on Wednesday, July 28th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.20. MaxLinear had a positive return on equity of 18.89% and a negative net margin of 7.41%. The firm had revenue of $205.38 million for the quarter, compared to analysts’ expectations of $205.13 million. As a group, research analysts predict that MaxLinear, Inc. will post 1.68 EPS for the current fiscal year.

In related news, insider Steven G. Litchfield acquired 2,320 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The shares were bought at an average cost of $53.85 per share, with a total value of $124,932.00. Following the completion of the purchase, the insider now directly owns 112,009 shares in the company, valued at $6,031,684.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brendan Walsh sold 10,000 shares of MaxLinear stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $52.55, for a total value of $525,500.00. Following the completion of the transaction, the vice president now directly owns 156,932 shares in the company, valued at $8,246,776.60. The disclosure for this sale can be found here. Over the last three months, insiders have bought 6,904 shares of company stock worth $374,709 and have sold 207,637 shares worth $9,860,801. Company insiders own 8.82% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc engages in the provision of radio frequency, high-performance analog and mixed-signal communications systems-on-chip solutions for the connected home, wired and wireless infrastructure, and industrial and multi-market applications. Its products include cable broadband modems and gateways, wireline connectivity devices, radio frequency transceivers, fiber-optic modules, video set-top boxes and gateways, hybrid analog and digital televisions, direct broadcast satellite outdoor and indoor units, and power management and interface products.

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Institutional Ownership by Quarter for MaxLinear (NYSE:MXL)

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