Weybosset Research & Management LLC Has $3.31 Million Holdings in MaxLinear, Inc $MXL

Weybosset Research & Management LLC decreased its position in MaxLinear, Inc (NASDAQ:MXL) by 26.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 205,893 shares of the semiconductor company’s stock after selling 72,801 shares during the quarter. MaxLinear comprises about 1.1% of Weybosset Research & Management LLC’s portfolio, making the stock its 23rd largest holding. Weybosset Research & Management LLC’s holdings in MaxLinear were worth $3,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MXL. Farther Finance Advisors LLC acquired a new position in shares of MaxLinear during the 2nd quarter worth about $44,000. PNC Financial Services Group Inc. lifted its holdings in MaxLinear by 104.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,579 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 1,828 shares during the last quarter. Raymond James Financial Inc. acquired a new position in MaxLinear in the 2nd quarter valued at $51,000. Strs Ohio bought a new position in MaxLinear during the 1st quarter worth $63,000. Finally, GAMMA Investing LLC grew its stake in shares of MaxLinear by 36.6% in the second quarter. GAMMA Investing LLC now owns 5,143 shares of the semiconductor company’s stock valued at $73,000 after acquiring an additional 1,378 shares in the last quarter. Institutional investors own 90.79% of the company’s stock.

Wall Street Analysts Forecast Growth

MXL has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of MaxLinear in a research note on Friday, October 24th. Williams Trading set a $25.00 price objective on MaxLinear in a research note on Friday, October 24th. Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Wednesday, October 8th. Finally, Zacks Research lowered shares of MaxLinear from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.94.

MaxLinear Stock Performance

NASDAQ:MXL opened at $17.58 on Tuesday. The business has a 50 day moving average of $16.20 and a 200 day moving average of $15.74. MaxLinear, Inc has a 1-year low of $8.35 and a 1-year high of $25.73. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -8.41 and a beta of 1.82. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.55 and a quick ratio of 1.08.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, October 23rd. The semiconductor company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $126.46 million for the quarter, compared to the consensus estimate of $124.66 million. MaxLinear had a negative net margin of 42.43% and a negative return on equity of 12.74%. The firm’s revenue for the quarter was up 56.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.36) earnings per share. On average, sell-side analysts predict that MaxLinear, Inc will post -0.37 earnings per share for the current fiscal year.

MaxLinear declared that its Board of Directors has approved a share buyback program on Monday, November 24th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at MaxLinear

In other news, Director Daniel A. Artusi sold 20,747 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $15.39, for a total transaction of $319,296.33. Following the completion of the transaction, the director directly owned 12,141 shares in the company, valued at $186,849.99. This trade represents a 63.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.80% of the stock is owned by 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.