MaxLinear, Inc $MXL Holdings Decreased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in MaxLinear, Inc (NASDAQ:MXL) by 34.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,247 shares of the semiconductor company’s stock after selling 19,224 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in MaxLinear were worth $3,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ameritas Advisory Services LLC bought a new position in MaxLinear in the 2nd quarter worth about $32,000. Carolina Wealth Advisors LLC purchased a new position in MaxLinear during the 2nd quarter valued at about $47,000. Global Retirement Partners LLC bought a new stake in shares of MaxLinear during the second quarter valued at about $56,000. Reyes Financial Architecture Inc. bought a new stake in shares of MaxLinear during the third quarter valued at about $44,000. Finally, NFSG Corp increased its position in shares of MaxLinear by 284.0% during the third quarter. NFSG Corp now owns 960 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 710 shares during the period. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Price Performance

MXL traded down $3.18 on Friday, reaching $55.78. The company had a trading volume of 1,690,785 shares, compared to its average volume of 3,658,219. MaxLinear, Inc has a 52-week low of $12.77 and a 52-week high of $128.30. The company has a market cap of $5.08 billion, a price-to-earnings ratio of -150.76 and a beta of 3.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.22. The business has a 50 day simple moving average of $75.97 and a 200 day simple moving average of $61.21.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. The business had revenue of $218.06 million during the quarter, compared to analysts’ expectations of $214.95 million. MaxLinear had a negative net margin of 4.45% and a positive return on equity of 12.89%. The business’s quarterly revenue was up 72.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. As a group, sell-side analysts anticipate that MaxLinear, Inc will post 1.10 EPS for the current year.

Insider Activity

In related news, CEO Kishore Seendripu sold 351,454 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MXL. Zacks Research upgraded shares of MaxLinear from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Wells Fargo & Company decreased their target price on shares of MaxLinear from $95.00 to $78.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 20th. Susquehanna set a $70.00 target price on shares of MaxLinear in a report on Friday, October 23rd. Needham & Company LLC increased their target price on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Morgan Stanley set a $125.00 price objective on MaxLinear in a research note on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.30.

MaxLinear Company Profile

MaxLinear, Inc. is a fabless semiconductor company that designs radio-frequency, analog and mixed-signal components, as well as system-on-chip products. Its technologies are used to move and process data in broadband, wireless, wired-networking and infrastructure applications. The company’s products support equipment such as broadband access devices, Wi-Fi systems, Ethernet and optical networking equipment, and wireless infrastructure. MaxLinear sells to customers around the world, including communications equipment manufacturers and other technology companies.