Hood River Capital Management LLC Purchases New Stake in MaxLinear, Inc. (NYSE:MXL)

Hood River Capital Management LLC acquired a new position in shares of MaxLinear, Inc. (NYSE:MXL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,200,811 shares of the semiconductor company’s stock, valued at approximately $24,184,000. Hood River Capital Management LLC owned 1.44% of MaxLinear at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MXL. Headlands Technologies LLC acquired a new stake in shares of MaxLinear during the first quarter worth approximately $27,000. Innealta Capital LLC acquired a new stake in shares of MaxLinear during the 2nd quarter valued at $30,000. International Assets Investment Management LLC purchased a new position in shares of MaxLinear during the 2nd quarter valued at $31,000. Canada Pension Plan Investment Board acquired a new position in shares of MaxLinear in the second quarter worth $56,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of MaxLinear during the first quarter worth $59,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Insider Transactions at MaxLinear

In related news, CEO Kishore Seendripu acquired 108,303 shares of the stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the purchase, the chief executive officer now owns 531,937 shares in the company, valued at approximately $6,883,264.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.60% of the company’s stock.

MaxLinear Stock Down 3.4 %

MaxLinear stock opened at $13.93 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59. MaxLinear, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The firm has a fifty day moving average price of $14.87 and a two-hundred day moving average price of $18.01. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -7.37 and a beta of 1.84.

MaxLinear (NYSE:MXL) last posted its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The business had revenue of $92.00 million during the quarter, compared to the consensus estimate of $100.25 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The company’s revenue for the quarter was down 50.0% on a year-over-year basis. As a group, analysts forecast that MaxLinear, Inc. will post -1.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MXL shares. Stifel Nicolaus upped their target price on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Benchmark decreased their target price on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Craig Hallum dropped their price target on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Northland Securities reduced their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, Needham & Company LLC downgraded shares of MaxLinear from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.67.

MaxLinear Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.