Hodges Capital Management Inc. Raises Stock Position in MaxLinear, Inc $MXL

Hodges Capital Management Inc. increased its position in shares of MaxLinear, Inc (NASDAQ:MXL) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 547,690 shares of the semiconductor company’s stock after acquiring an additional 72,579 shares during the quarter. Hodges Capital Management Inc.’s holdings in MaxLinear were worth $9,524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors boosted its stake in MaxLinear by 4.3% in the fourth quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock valued at $245,000 after acquiring an additional 577 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of MaxLinear by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock valued at $795,000 after purchasing an additional 632 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of MaxLinear by 4.3% in the 4th quarter. ProShare Advisors LLC now owns 16,048 shares of the semiconductor company’s stock worth $280,000 after purchasing an additional 664 shares in the last quarter. Smartleaf Asset Management LLC increased its position in MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 726 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 875 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MXL shares. Stifel Nicolaus raised their price target on MaxLinear from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Susquehanna restated a “neutral” rating and set a $30.00 price objective on shares of MaxLinear in a report on Monday, April 20th. Needham & Company LLC raised shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Friday, April 24th. Northland Securities set a $110.00 target price on shares of MaxLinear in a research note on Wednesday, June 3rd. Finally, Benchmark assumed coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They set a “buy” rating and a $125.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $65.50.

MaxLinear Stock Performance

Shares of MXL stock opened at $93.12 on Monday. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of -61.26 and a beta of 3.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.12. The business has a fifty day moving average of $87.41 and a 200 day moving average of $42.94. MaxLinear, Inc has a 1 year low of $12.77 and a 1 year high of $128.30.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $137.19 million during the quarter, compared to analysts’ expectations of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The firm’s revenue was up 43.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) EPS. As a group, research analysts expect that MaxLinear, Inc will post 0.52 earnings per share for the current year.

Insider Activity

In related news, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the sale, the insider owned 13,947 shares of the company’s stock, valued at $1,352,301.12. The trade was a 71.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total value of $1,155,000.00. Following the completion of the sale, the director owned 55,252 shares in the company, valued at approximately $5,801,460. This represents a 16.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 65,168 shares of company stock valued at $5,559,358. Company insiders own 7.70% of the company’s stock.

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.