Renaissance Technologies LLC Increases Position in MaxLinear, Inc $MXL

Renaissance Technologies LLC lifted its stake in MaxLinear, Inc (NASDAQ:MXL) by 297.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 445,913 shares of the semiconductor company’s stock after acquiring an additional 333,800 shares during the period. Renaissance Technologies LLC owned 0.50% of MaxLinear worth $7,754,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MXL. Larson Financial Group LLC boosted its position in MaxLinear by 161.7% during the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 875 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 726 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in MaxLinear in the fourth quarter worth about $25,000. International Assets Investment Management LLC purchased a new stake in shares of MaxLinear during the fourth quarter valued at about $27,000. Finally, KBC Group NV purchased a new stake in shares of MaxLinear during the first quarter valued at about $35,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Loop Capital upgraded shares of 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 research note on Wednesday, April 29th. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Northland Securities set a $110.00 price target on shares of MaxLinear in a report on Wednesday, June 3rd. Wells Fargo & Company upped their price target on MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating, four have issued 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 an average target price of $85.00.

Insider Buying and Selling

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction that occurred on Friday, May 8th. The shares were 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 in the company, valued at approximately $1,352,301.12. The trade was a 71.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director directly owned 55,252 shares in the company, valued at $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.70% of the stock is owned by corporate insiders.

MaxLinear Stock Up 0.4%

MaxLinear stock opened at $67.11 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The business’s 50-day simple moving average is $86.26 and its two-hundred day simple moving average is $52.00. The company has a market cap of $6.09 billion, a PE ratio of -56.39 and a beta of 3.96. MaxLinear, Inc has a fifty-two week low of $12.77 and a fifty-two week high of $128.30.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $164.64 million. During the same period in the prior year, the company earned $0.02 earnings per share. The company’s revenue was up 55.2% on a year-over-year basis. Equities analysts anticipate that MaxLinear, Inc will post 0.78 EPS for the current year.

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.