Hodges Capital Management Inc. Sells 43,595 Shares of MaxLinear, Inc $MXL

Hodges Capital Management Inc. trimmed its stake in shares of MaxLinear, Inc (NASDAQ:MXL) by 8.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 484,166 shares of the semiconductor company’s stock after selling 43,595 shares during the quarter. Hodges Capital Management Inc. owned 0.55% of MaxLinear worth $7,785,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in MaxLinear by 104.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,579 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 1,828 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of MaxLinear in the second quarter valued at approximately $51,000. Bessemer Group Inc. grew its stake in MaxLinear by 917.6% during the third quarter. Bessemer Group Inc. now owns 3,175 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 2,863 shares in the last quarter. Strs Ohio bought a new stake in MaxLinear during the 1st quarter worth approximately $63,000. Finally, Tower Research Capital LLC TRC lifted its stake in MaxLinear by 369.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,716 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 7,646 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Analyst Ratings Changes

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

MaxLinear Price Performance

Shares of MaxLinear stock opened at $19.82 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.71 billion, a PE ratio of -12.54 and a beta of 1.74. The business’s 50-day moving average price is $18.37 and its 200-day moving average price is $16.73. MaxLinear, Inc has a 12 month low of $8.35 and a 12 month high of $20.82.

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

MaxLinear announced that its board has initiated a stock repurchase plan on Monday, November 24th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

MaxLinear Company 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.