Hodges Capital Management Inc. Sells 43,595 Shares of MaxLinear, Inc $MXL

Hodges Capital Management Inc. cut its stake in shares of MaxLinear, Inc (NASDAQ:MXL) by 8.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 484,166 shares of the semiconductor company’s stock after selling 43,595 shares during the quarter. Hodges Capital Management Inc.’s holdings in MaxLinear were worth $7,785,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MXL. AIGH Capital Management LLC bought a new stake in MaxLinear in the third quarter valued at approximately $17,809,000. Marshall Wace LLP raised its holdings in MaxLinear by 239.0% during the 2nd quarter. Marshall Wace LLP now owns 1,385,171 shares of the semiconductor company’s stock valued at $19,683,000 after buying an additional 976,537 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in MaxLinear during the 2nd quarter valued at $9,251,000. The Manufacturers Life Insurance Company grew its holdings in 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 worth $41,054,000 after acquiring an additional 628,719 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in MaxLinear in the 2nd quarter worth $5,894,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MXL has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Benchmark increased their price objective on MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Stifel Nicolaus set a $23.00 price objective on MaxLinear in a research report on Friday, October 24th. Williams Trading set a $25.00 target price on MaxLinear in a report on Friday, October 24th. Finally, Wells Fargo & Company raised their price target on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.57.

MaxLinear Price Performance

MXL opened at $19.82 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -12.54 and a beta of 1.74. The stock has a fifty day simple moving average of $18.37 and a two-hundred day simple moving average of $16.73. MaxLinear, Inc has a 12-month low of $8.35 and a 12-month high of $20.82.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $136.44 million for the quarter, compared to the consensus estimate of $134.82 million. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. During the same period in the prior year, the firm earned ($0.09) EPS. The company’s revenue was up 48.0% compared to the same quarter last year. Research analysts predict that MaxLinear, Inc will post -0.37 earnings per share for the current fiscal year.

MaxLinear declared that its board has authorized a share buyback plan on Monday, November 24th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

About MaxLinear

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.