Legato Capital Management LLC Buys Shares of 83,282 MaxLinear, Inc $MXL

Legato Capital Management LLC acquired a new stake in MaxLinear, Inc (NASDAQ:MXL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 83,282 shares of the semiconductor company’s stock, valued at approximately $1,339,000.

Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of MaxLinear by 97.0% in the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 1,039 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in MaxLinear by 104.4% in the second 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 during the last quarter. Bessemer Group Inc. boosted its position in shares of MaxLinear by 917.6% during the 3rd quarter. Bessemer Group Inc. now owns 3,175 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,863 shares during the period. Raymond James Financial Inc. purchased a new position in shares of MaxLinear during the second quarter worth $51,000. Finally, Strs Ohio acquired a new position in MaxLinear in the 1st quarter valued at about $63,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MXL. Wells Fargo & Company increased their price target on MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Benchmark raised their price objective on MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. 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 stock. According to data from MarketBeat.com, MaxLinear has an average rating of “Hold” and an average price target of $19.57.

MaxLinear Price Performance

MXL stock opened at $17.29 on Wednesday. The firm has a market cap of $1.49 billion, a P/E ratio of -10.94 and a beta of 1.70. The stock’s 50 day moving average price is $18.43 and its 200 day moving average price is $16.92. MaxLinear, Inc has a 1 year low of $8.35 and a 1 year high of $20.82. 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 (NASDAQ:MXL) last issued its quarterly 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 for the quarter, compared to analyst estimates of $134.82 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 48.0% compared to the same quarter last year. 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 has initiated a stock 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 purchase up to 5.8% of its shares through open market purchases. Shares 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.