MaxLinear, Inc. (NYSE:MXL) Short Interest Down 17.4% in October


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MaxLinear, Inc. (NYSE:MXL) was the target of a large decrease in short interest in October. As of October 30th, there was short interest totalling 2,190,000 shares, a decrease of 17.4% from the October 15th total of 2,650,000 shares. Approximately 3.2% of the company’s shares are short sold. Based on an average trading volume of 471,300 shares, the short-interest ratio is presently 4.6 days.

Shares of NYSE:MXL traded up $0.80 during midday trading on Friday, reaching $29.22. The company’s stock had a trading volume of 443,240 shares, compared to its average volume of 573,729. The firm has a market capitalization of $2.17 billion, a PE ratio of -26.09, a P/E/G ratio of 10.31 and a beta of 1.94. The company has a quick ratio of 2.23, a current ratio of 2.72 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average of $26.04 and a 200 day moving average of $23.13. MaxLinear has a twelve month low of $7.79 and a twelve month high of $30.52.

MaxLinear (NYSE:MXL) last released its quarterly earnings results on Thursday, November 5th. The semiconductor company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.19. The company had revenue of $156.63 million for the quarter, compared to analyst estimates of $156.01 million. MaxLinear had a negative net margin of 18.07% and a positive return on equity of 3.13%. The firm’s revenue was up 95.7% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share. Sell-side analysts anticipate that MaxLinear will post 0.14 earnings per share for the current fiscal year.

In other news, CEO Kishore Seendripu sold 4,455 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $26.19, for a total value of $116,676.45. Following the completion of the sale, the chief executive officer now owns 103,598 shares of the company’s stock, valued at approximately $2,713,231.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.97% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in MXL. Harbor Investment Advisory LLC grew its position in MaxLinear by 59.3% during the third quarter. Harbor Investment Advisory LLC now owns 1,437 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 535 shares during the period. Point72 Hong Kong Ltd acquired a new stake in MaxLinear during the third quarter valued at $44,000. Private Advisor Group LLC acquired a new stake in MaxLinear during the second quarter valued at $64,000. Advisor Group Holdings Inc. purchased a new position in MaxLinear during the first quarter valued at $77,000. Finally, PNC Financial Services Group Inc. lifted its holdings in MaxLinear by 7.5% during the second quarter. PNC Financial Services Group Inc. now owns 5,572 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 391 shares in the last quarter. Institutional investors own 83.97% of the company’s stock.

MXL has been the subject of several research reports. Roth Capital upped their price target on shares of MaxLinear from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. Zacks Investment Research cut shares of MaxLinear from a “hold” rating to a “sell” rating in a research report on Tuesday, October 13th. Needham & Company LLC increased their target price on shares of MaxLinear from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 6th. TheStreet raised shares of MaxLinear from a “d+” rating to a “c-” rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company increased their target price on shares of MaxLinear from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.80.

About MaxLinear

MaxLinear, Inc provides radio-frequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. The company offers various semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.

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