Summit Global Investments Buys New Stake in MaxLinear, Inc $MXL

Summit Global Investments purchased a new position in MaxLinear, Inc (NASDAQ:MXL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,159 shares of the semiconductor company’s stock, valued at approximately $789,000.

A number of other hedge funds also recently bought and sold shares of the business. Larson Financial Group LLC grew its stake in shares of MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after buying an additional 875 shares in the last quarter. Smartleaf Asset Management LLC grew its position 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 acquiring an additional 726 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in MaxLinear in the fourth quarter worth about $25,000. International Assets Investment Management LLC bought a new stake in MaxLinear during the fourth quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC raised its position in MaxLinear by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 217 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Performance

MaxLinear stock opened at $84.84 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15. The firm has a market capitalization of $7.69 billion, a P/E ratio of -71.29 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 company’s 50-day moving average is $82.84 and its 200 day moving average is $55.18.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $168.85 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 55.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 earnings per share. Research analysts forecast that MaxLinear, Inc will post 0.78 EPS for the current year.

Insider Buying and Selling at MaxLinear

In related news, Director Thomas E. Pardun sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was 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 of the company’s stock, valued at approximately $5,801,460. This trade represents a 16.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MXL shares. Susquehanna raised their price objective on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Wells Fargo & Company increased their price target on MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Northland Securities set a $110.00 price target on MaxLinear in a research report on Wednesday, June 3rd. Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and raised their price target for the stock from $17.00 to $75.00 in a research report on Wednesday, April 29th. Finally, Roth Capital lifted their price objective 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. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $85.00.

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.