Allianz Asset Management GmbH Buys 197,126 Shares of MaxLinear, Inc $MXL

Allianz Asset Management GmbH grew its stake in shares of MaxLinear, Inc (NASDAQ:MXL) by 127.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 352,034 shares of the semiconductor company’s stock after purchasing an additional 197,126 shares during the quarter. Allianz Asset Management GmbH’s holdings in MaxLinear were worth $5,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Global Investments bought a new position in MaxLinear during the third quarter worth about $555,000. AIGH Capital Management LLC acquired a new position in shares of MaxLinear during the 3rd quarter worth approximately $17,809,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of MaxLinear during the third quarter worth approximately $1,571,000. Lisanti Capital Growth LLC bought a new position in shares of MaxLinear during the third quarter worth approximately $1,180,000. Finally, XTX Topco Ltd acquired a new stake in shares of MaxLinear in the second quarter valued at approximately $1,272,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

Analyst Upgrades and Downgrades

MXL has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Williams Trading set a $25.00 price target on MaxLinear in a research report on Friday, October 24th. Benchmark boosted their price target on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Stifel Nicolaus set a $23.00 price objective on shares of MaxLinear in a research report on Friday, October 24th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.57.

MaxLinear Price Performance

MaxLinear stock opened at $18.86 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34. MaxLinear, Inc has a 52 week low of $8.35 and a 52 week high of $20.82. The stock has a market capitalization of $1.63 billion, a P/E ratio of -11.94 and a beta of 1.74. The stock has a fifty day moving average of $18.31 and a 200-day moving average of $16.62.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $136.44 million for the quarter, compared to analysts’ expectations of $134.82 million. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.The business’s revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) earnings per share. On average, sell-side analysts expect that MaxLinear, Inc will post -0.37 earnings per share for the current fiscal year.

MaxLinear announced that its Board of Directors has authorized a share repurchase plan on Monday, November 24th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

MaxLinear Profile

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.