MaxLinear, Inc. (NYSE:MXL) Short Interest Down 5.2% in July

MaxLinear, Inc. (NYSE:MXL) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 5,656,500 shares, a decrease of 5.2% from the June 30th total of 5,969,900 shares. Based on an average daily trading volume, of 416,100 shares, the days-to-cover ratio is presently 13.6 days. Approximately 8.9% of the company’s stock are short sold.

A number of equities analysts recently issued reports on the stock. ValuEngine cut shares of MaxLinear from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. They noted that the move was a valuation call. Roth Capital dropped their price target on shares of MaxLinear from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 4th. Wells Fargo & Co assumed coverage on shares of MaxLinear in a research note on Tuesday, May 14th. They issued a “market perform” rating on the stock. Finally, Zacks Investment Research upgraded shares of MaxLinear from a “sell” rating to a “hold” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $20.80.

MXL opened at $20.66 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.94 and a current ratio of 2.58. The stock has a market capitalization of $1.44 billion, a P/E ratio of 26.49, a P/E/G ratio of 3.56 and a beta of 1.27. The company’s 50-day simple moving average is $23.06 and its two-hundred day simple moving average is $23.83. MaxLinear has a 52-week low of $14.87 and a 52-week high of $28.70.

MaxLinear (NYSE:MXL) last posted its earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.11. The business had revenue of $82.50 million for the quarter, compared to analysts’ expectations of $82.58 million. MaxLinear had a negative net margin of 6.09% and a positive return on equity of 7.16%. The business’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. Research analysts forecast that MaxLinear will post 0.45 EPS for the current fiscal year.

In related news, VP Michael J. Lachance sold 36,470 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $21.65, for a total value of $789,575.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Kishore Seendripu sold 21,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $20.79, for a total transaction of $436,590.00. Following the completion of the transaction, the chairman now owns 12,466 shares in the company, valued at approximately $259,168.14. The disclosure for this sale can be found here. Insiders sold a total of 95,297 shares of company stock worth $2,054,920 over the last ninety days. Insiders own 9.97% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in MaxLinear by 1,273.1% during the 2nd quarter. Royal Bank of Canada now owns 3,625 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 3,361 shares during the period. Nuveen Asset Management LLC bought a new position in shares of MaxLinear in the 2nd quarter worth approximately $6,586,000. Price T Rowe Associates Inc. MD lifted its stake in shares of MaxLinear by 0.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,688,078 shares of the semiconductor company’s stock worth $86,449,000 after purchasing an additional 34,198 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of MaxLinear by 1.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 456,182 shares of the semiconductor company’s stock worth $10,693,000 after purchasing an additional 7,485 shares during the period. Finally, Citadel Advisors LLC lifted its stake in shares of MaxLinear by 112.1% in the 2nd quarter. Citadel Advisors LLC now owns 23,755 shares of the semiconductor company’s stock worth $557,000 after purchasing an additional 12,555 shares during the period. Institutional investors and hedge funds own 90.86% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc provides radio-frequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.

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