Nicholas Investment Partners LP Acquires New Position in MaxLinear, Inc $MXL

Nicholas Investment Partners LP acquired a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,961 shares of the semiconductor company’s stock, valued at approximately $7,165,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MXL. Royal Bank of Canada raised its position in shares of MaxLinear by 3.1% in the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock valued at $789,000 after purchasing an additional 2,204 shares during the period. AQR Capital Management LLC boosted its holdings in MaxLinear by 56.0% in the 1st quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock worth $3,218,000 after buying an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MaxLinear by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock valued at $515,000 after buying an additional 2,043 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in MaxLinear by 0.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock valued at $5,813,000 after buying an additional 2,039 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in MaxLinear by 23.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock valued at $1,980,000 after buying an additional 35,152 shares in the last quarter. Institutional investors own 90.79% of the company’s stock.

Insider Activity

In related news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction on Monday, August 17th. The stock was 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 at the SEC website. Company insiders own 7.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MXL has been the topic of several recent research reports. Northland Securities set a $110.00 target price on MaxLinear in a research report on Wednesday, June 3rd. Roth Capital lifted their price target on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Susquehanna boosted their price objective on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Benchmark assumed coverage on MaxLinear in a report on Wednesday, May 27th. They set a “buy” rating and a $125.00 price objective on the stock. Finally, Needham & Company LLC increased their price objective on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $85.00.

MaxLinear Stock Performance

MaxLinear stock opened at $62.78 on Tuesday. MaxLinear, Inc has a 1-year low of $12.77 and a 1-year high of $128.30. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.69 billion, a PE ratio of -52.76 and a beta of 3.96. The firm’s 50 day simple moving average is $81.65 and its 200 day simple moving average is $57.61.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $168.85 million during the quarter, compared to the consensus estimate of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The business’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. As a group, analysts expect that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

MaxLinear Company Profile

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.