Handelsbanken Fonder AB Raises Position in MaxLinear, Inc $MXL

Handelsbanken Fonder AB raised its holdings in MaxLinear, Inc (NASDAQ:MXLFree Report) by 25.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,681 shares of the semiconductor company’s stock after acquiring an additional 7,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in MaxLinear were worth $639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of MaxLinear by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock valued at $232,279,000 after purchasing an additional 605,903 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of 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 valued at $41,054,000 after purchasing an additional 628,719 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of MaxLinear by 31.8% in the 3rd quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company’s stock valued at $29,366,000 after purchasing an additional 441,088 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MaxLinear by 2.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,570,582 shares of the semiconductor company’s stock valued at $25,253,000 after purchasing an additional 36,099 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of MaxLinear by 2.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,220,572 shares of the semiconductor company’s stock valued at $19,627,000 after purchasing an additional 30,124 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

MaxLinear Price Performance

Shares of NASDAQ:MXL opened at $101.10 on Thursday. The company’s fifty day moving average price is $49.40 and its 200 day moving average price is $28.70. MaxLinear, Inc has a 12 month low of $10.96 and a 12 month high of $106.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.12. The firm has a market capitalization of $9.05 billion, a P/E ratio of -66.51 and a beta of 3.95.

MaxLinear (NASDAQ:MXLGet Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. During the same period last year, the business earned ($0.05) EPS. MaxLinear’s revenue for the quarter was up 43.0% compared to the same quarter last year. As a group, sell-side analysts predict that MaxLinear, Inc will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MXL. Benchmark began coverage on shares of MaxLinear in a report on Wednesday. They issued a “buy” rating and a $125.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $40.00 price objective on shares of MaxLinear in a report on Friday, April 24th. Wells Fargo & Company raised their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Finally, Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, MaxLinear presently has an average rating of “Hold” and a consensus price target of $53.90.

View Our Latest Research Report on MaxLinear

Insider Buying and Selling at MaxLinear

In related news, insider Steven G. Litchfield sold 20,000 shares of MaxLinear stock in a transaction on Friday, March 6th. The shares were sold at an average price of $15.68, for a total transaction of $313,600.00. Following the sale, the insider directly owned 343,435 shares in the company, valued at $5,385,060.80. This trade represents a 5.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction on Friday, May 8th. The shares were sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the transaction, the insider owned 13,947 shares in the company, valued at approximately $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 99,097 shares of company stock worth $5,150,815 over the last quarter. 7.70% of the stock is owned by company insiders.

MaxLinear Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MXL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MaxLinear, Inc (NASDAQ:MXLFree Report).

Institutional Ownership by Quarter for MaxLinear (NASDAQ:MXL)

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