Essex Investment Management Co. LLC Invests $3.86 Million in MaxLinear, Inc $MXL

Essex Investment Management Co. LLC bought a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 240,269 shares of the semiconductor company’s stock, valued at approximately $3,864,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MXL. Maryland State Retirement & Pension System raised its position in shares of MaxLinear by 3.0% during the second quarter. Maryland State Retirement & Pension System now owns 23,099 shares of the semiconductor company’s stock valued at $328,000 after buying an additional 680 shares during the last quarter. Amalgamated Bank raised its stake in shares of MaxLinear by 3.5% in the 3rd quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock valued at $373,000 after buying an additional 775 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of MaxLinear by 3.5% during the 3rd quarter. Arizona State Retirement System now owns 24,295 shares of the semiconductor company’s stock worth $391,000 after acquiring an additional 830 shares during the period. Bank of Montreal Can boosted its position in shares of MaxLinear by 7.8% during the 2nd quarter. Bank of Montreal Can now owns 12,381 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 896 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in MaxLinear by 2.5% in the third quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the semiconductor company’s stock valued at $605,000 after acquiring an additional 900 shares during the period. 90.79% of the stock is currently owned by institutional investors and hedge funds.

MaxLinear Stock Performance

MXL stock opened at $19.01 on Tuesday. The stock has a market capitalization of $1.64 billion, a PE ratio of -12.03 and a beta of 1.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.34 and a quick ratio of 0.92. The company has a 50 day moving average price of $18.26 and a 200 day moving average price of $16.61. MaxLinear, Inc has a fifty-two week low of $8.35 and a fifty-two week 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. The company had revenue of $136.44 million during the quarter, compared to the consensus estimate of $134.82 million. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.The firm’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Analysts forecast that MaxLinear, Inc will post -0.37 EPS for the current year.

MaxLinear declared that its Board of Directors has initiated a share repurchase plan on Monday, November 24th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.