Primecap Management Co. CA Makes New Investment in MaxLinear, Inc $MXL

Primecap Management Co. CA purchased a new stake in shares of MaxLinear, Inc (NASDAQ:MXL) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 164,380 shares of the semiconductor company’s stock, valued at approximately $21,046,000. Primecap Management Co. CA owned about 0.18% of MaxLinear as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Larson Financial Group LLC boosted its holdings in shares of MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after buying an additional 875 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in MaxLinear by 103.0% during the fourth 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 during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in MaxLinear during the fourth quarter valued at approximately $25,000. International Assets Investment Management LLC bought a new position in MaxLinear in the fourth quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC raised its position in MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 217 shares during the period. Institutional investors own 90.79% of the company’s stock.

Analyst Ratings Changes

MXL has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on shares of MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company raised their target price on MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Northland Securities set a $110.00 target price on MaxLinear in a research report on Wednesday, June 3rd. Susquehanna boosted their price target on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Benchmark began coverage on MaxLinear in a research report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price target for the company. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, MaxLinear has an average rating of “Hold” and a consensus price target of $85.00.

Insider Buying and Selling

In other news, CEO Kishore Seendripu sold 351,454 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

MaxLinear Stock Performance

MXL opened at $63.00 on Thursday. The company has a 50 day simple moving average of $80.89 and a two-hundred day simple moving average of $58.28. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15. The firm has a market cap of $5.71 billion, a P/E ratio of -52.94 and a beta of 3.95. MaxLinear, Inc has a 1-year low of $12.77 and a 1-year high of $128.30.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $168.85 million for the quarter, compared to the consensus estimate of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The company’s revenue was up 55.2% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. Equities analysts forecast that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

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.