MaxLinear, Inc $MXL Stock: Triumph Capital Management Raises Holdings

Triumph Capital Management boosted its holdings in MaxLinear, Inc (NASDAQ:MXL) by 54.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,041 shares of the semiconductor company’s stock after buying an additional 8,449 shares during the quarter. Triumph Capital Management’s holdings in MaxLinear were worth $2,171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. GK Wealth Management LLC boosted its position in shares of MaxLinear by 12.7% during the 3rd quarter. GK Wealth Management LLC now owns 5,707 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 644 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of MaxLinear by 44.3% in the 3rd quarter. Wedmont Private Capital now owns 5,169 shares of the semiconductor company’s stock valued at $484,000 after acquiring an additional 1,588 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of MaxLinear by 10.6% in the 3rd quarter. GAMMA Investing LLC now owns 6,802 shares of the semiconductor company’s stock valued at $614,000 after acquiring an additional 650 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of MaxLinear during the 2nd quarter worth about $205,000. Finally, Revere Asset Management Inc acquired a new stake in shares of MaxLinear during the 2nd quarter worth about $1,139,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MXL shares. 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 note on Friday, July 24th. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Susquehanna raised their price objective on shares of MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Morgan Stanley set a $125.00 price objective on shares of MaxLinear in a research report on Monday, September 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.64.

Insider Activity

In related news, CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a filing with the SEC, which is available at this link. 7.70% of the stock is currently owned by company insiders.

MaxLinear Stock Performance

Shares of MXL stock traded down $9.82 during mid-day trading on Wednesday, hitting $78.82. 3,080,250 shares of the stock were exchanged, compared to its average volume of 3,112,280. The stock’s fifty day simple moving average is $77.17 and its two-hundred day simple moving average is $73.22. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of -66.24 and a beta of 3.93. MaxLinear, Inc has a 12-month low of $12.77 and a 12-month high of $128.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78.

MaxLinear (NASDAQ:MXL) last posted 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. 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 analysts’ expectations of $164.64 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The business’s revenue was up 55.2% compared to the same quarter last year. On average, analysts forecast that MaxLinear, Inc will post 0.78 EPS for the current year.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that develops high-performance analog and mixed-signal integrated circuits for communications and connectivity applications. Its products are designed to help equipment manufacturers process, transmit and manage data across broadband, wired and wireless infrastructure, data center, and industrial systems.

The company’s product portfolio includes broadband access and connectivity solutions, RF and microwave components, Ethernet and high-speed interconnect products, optical networking technologies, and power-management devices.