Primecap Management Co. CA Invests $21.05 Million in MaxLinear, Inc $MXL

Primecap Management Co. CA bought a new position in shares of MaxLinear, Inc (NASDAQ:MXL) in the second quarter, HoldingsChannel reports. The firm bought 164,380 shares of the semiconductor company’s stock, valued at approximately $21,046,000.

Several other institutional investors also recently bought and sold shares of MXL. BlackRock Inc. bought a new stake in MaxLinear in the 2nd quarter valued at $1,754,062,000. Invesco Ltd. boosted its holdings in shares of MaxLinear by 419.9% during the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock valued at $37,467,000 after purchasing an additional 1,736,141 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of MaxLinear during the 2nd quarter valued at about $165,221,000. AIGH Capital Management LLC purchased a new position in shares of MaxLinear during the second quarter valued at about $104,729,000. Finally, Paradigm Capital Management Inc. NY grew its position in shares of MaxLinear by 582.7% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 861,000 shares of the semiconductor company’s stock valued at $15,007,000 after purchasing an additional 734,875 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on MXL. Susquehanna boosted their target price on MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Roth Capital raised their price target on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Stifel Nicolaus upped their price objective on MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Northland Securities set a $110.00 target price on MaxLinear in a research report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.00.

Insider Buying and Selling

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.70% of the stock is owned by insiders.

MaxLinear Trading Down 5.1%

Shares of MXL stock opened at $63.00 on Thursday. The company has a market cap of $5.71 billion, a PE ratio of -52.94 and a beta of 3.95. MaxLinear, Inc has a 1 year low of $12.77 and a 1 year high of $128.30. The stock’s 50 day simple moving average is $80.89 and its two-hundred day simple moving average is $58.28. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15.

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

MaxLinear 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.