MaxLinear, Inc $MXL Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of MaxLinear, Inc (NASDAQ:MXL) by 51.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,228 shares of the semiconductor company’s stock after selling 26,088 shares during the period. Hsbc Holdings PLC’s holdings in MaxLinear were worth $419,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MXL. Larson Financial Group LLC increased its holdings in shares of MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 875 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of MaxLinear during the 4th quarter worth $25,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear during the 4th quarter worth $27,000. Finally, Quarry LP grew its holdings in shares of MaxLinear by 1,293.0% in the 3rd quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 2,030 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MXL has been the topic of a number of recent analyst reports. Needham & Company LLC boosted their target price on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $40.00 price target on shares of MaxLinear in a research report on Friday, April 24th. Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $17.00 to $75.00 in a report on Wednesday, April 29th. Finally, Wells Fargo & Company boosted their price objective on MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.00.

MaxLinear Price Performance

MXL opened at $66.82 on Friday. The stock has a fifty day moving average of $86.90 and a 200-day moving average of $51.43. The firm has a market capitalization of $6.06 billion, a P/E ratio of -56.15 and a beta of 3.91. MaxLinear, Inc has a 12-month low of $12.77 and a 12-month high of $128.30. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.

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

Insider Activity

In other news, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the transaction, the director owned 55,252 shares in the company, valued at $5,801,460. This represents a 16.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the sale, the insider directly owned 13,947 shares of the company’s stock, valued at $1,352,301.12. This trade represents a 71.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 7.70% of the stock is currently owned by corporate insiders.

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.