Illinois Municipal Retirement Fund Acquires Shares of 40,928 MaxLinear, Inc $MXL

Illinois Municipal Retirement Fund bought a new position in MaxLinear, Inc (NASDAQ:MXL) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 40,928 shares of the semiconductor company’s stock, valued at approximately $658,000.

Several other large investors have also recently modified their holdings of the stock. Essex Investment Management Co. LLC bought a new stake in MaxLinear in the third quarter worth $3,864,000. Fortitude Advisory Group L.L.C. purchased a new stake in shares of MaxLinear in the third quarter valued at $161,000. Bessemer Group Inc. lifted its holdings in shares of MaxLinear by 917.6% in the 3rd quarter. Bessemer Group Inc. now owns 3,175 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 2,863 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of MaxLinear in the 3rd quarter worth about $362,000. Finally, Allianz Asset Management GmbH boosted its stake in shares of MaxLinear by 127.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 352,034 shares of the semiconductor company’s stock worth $5,661,000 after purchasing an additional 197,126 shares during the period. Institutional investors own 90.79% of the company’s stock.

Analyst Ratings Changes

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

MaxLinear Stock Down 1.2%

NASDAQ:MXL opened at $18.24 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.34 and a quick ratio of 0.92. MaxLinear, Inc has a 1-year low of $8.35 and a 1-year high of $20.82. The company has a 50-day moving average of $18.34 and a 200 day moving average of $16.75. The firm has a market cap of $1.58 billion, a PE ratio of -11.54 and a beta of 1.74.

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

MaxLinear declared that its Board of Directors has initiated a share buyback 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 repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.