Squarepoint Ops LLC Makes New $5.89 Million Investment in MaxLinear, Inc $MXL

Squarepoint Ops LLC acquired a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 414,767 shares of the semiconductor company’s stock, valued at approximately $5,894,000. Squarepoint Ops LLC owned approximately 0.48% of MaxLinear at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in MaxLinear by 2.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 57,796 shares of the semiconductor company’s stock worth $821,000 after purchasing an additional 1,226 shares during the period. Public Sector Pension Investment Board boosted its position in MaxLinear by 9.7% during the second quarter. Public Sector Pension Investment Board now owns 267,963 shares of the semiconductor company’s stock valued at $3,808,000 after purchasing an additional 23,727 shares during the last quarter. FORA Capital LLC purchased a new position in MaxLinear in the second quarter valued at about $210,000. Tower Research Capital LLC TRC increased its position in MaxLinear by 369.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,716 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 7,646 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in shares of MaxLinear by 29.7% during the 2nd quarter. Tidal Investments LLC now owns 43,350 shares of the semiconductor company’s stock worth $616,000 after purchasing an additional 9,939 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Trading Down 6.2%

Shares of MXL stock opened at $17.41 on Monday. The firm has a market capitalization of $1.52 billion, a P/E ratio of -8.33 and a beta of 1.82. MaxLinear, Inc has a 1 year low of $8.35 and a 1 year high of $25.73. The firm’s fifty day simple moving average is $15.97 and its 200 day simple moving average is $15.32. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, October 23rd. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. MaxLinear had a negative net margin of 42.43% and a negative return on equity of 12.74%. The company had revenue of $126.46 million for the quarter, compared to the consensus estimate of $124.66 million. During the same quarter in the previous year, the firm posted ($0.36) EPS. The business’s revenue was up 56.0% compared to the same quarter last year. As a group, sell-side analysts predict that MaxLinear, Inc will post -0.37 EPS for the current year.

MaxLinear declared that its Board of Directors has initiated a share buyback program on Monday, November 24th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently commented on MXL. Wall Street Zen raised MaxLinear from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Williams Trading set a $25.00 price target on shares of MaxLinear in a research note on Friday, October 24th. Stifel Nicolaus set a $23.00 target price on shares of MaxLinear in a research report on Friday, October 24th. Zacks Research cut MaxLinear from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of MaxLinear in a research note on Friday, October 24th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, MaxLinear has a consensus rating of “Hold” and an average target price of $19.94.

Insiders Place Their Bets

In other MaxLinear news, Director Daniel A. Artusi sold 20,747 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $15.39, for a total value of $319,296.33. Following the sale, the director owned 12,141 shares of the company’s stock, valued at $186,849.99. The trade was a 63.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 7.80% of the stock is owned by corporate insiders.

About MaxLinear

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.