MaxLinear, Inc (MXL) Sees Significant Increase in Short Interest

MaxLinear, Inc (NYSE:MXL) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 4,861,911 shares, a growth of 56.5% from the August 15th total of 3,107,194 shares. Based on an average daily trading volume, of 878,863 shares, the days-to-cover ratio is presently 5.5 days. Currently, 8.0% of the company’s stock are sold short.

Institutional investors and hedge funds have recently made changes to their positions in the business. LS Investment Advisors LLC bought a new position in MaxLinear during the second quarter worth about $134,000. Ameritas Investment Partners Inc. bought a new position in MaxLinear during the first quarter worth about $135,000. D.A. Davidson & CO. lifted its stake in MaxLinear by 0.9% during the second quarter. D.A. Davidson & CO. now owns 5,298 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 45 shares during the period. Envestnet Asset Management Inc. lifted its stake in MaxLinear by 10.8% during the first quarter. Envestnet Asset Management Inc. now owns 6,404 shares of the semiconductor company’s stock worth $179,000 after purchasing an additional 624 shares during the period. Finally, Pinebridge Investments L.P. bought a new position in MaxLinear during the second quarter worth about $192,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

MaxLinear (MXL) opened at 22.64 on Friday. MaxLinear has a 12-month low of $18.26 and a 12-month high of $32.47. The stock’s 50 day moving average price is $22.40 and its 200 day moving average price is $26.80. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 40.94 and a beta of 0.61.

MaxLinear (NYSE:MXL) last announced its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $104.18 million during the quarter, compared to analysts’ expectations of $107.77 million. MaxLinear had a net margin of 9.95% and a return on equity of 22.29%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. On average, equities research analysts anticipate that MaxLinear will post $1.39 earnings per share for the current fiscal year.

Several analysts have issued reports on the company. TheStreet cut MaxLinear from a “b” rating to a “c+” rating in a research note on Thursday, August 10th. Stifel Nicolaus cut their price objective on MaxLinear from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Roth Capital cut their price objective on MaxLinear from $38.00 to $33.50 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Deutsche Bank AG cut their price objective on MaxLinear from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Finally, Zacks Investment Research upgraded MaxLinear from a “sell” rating to a “hold” rating and set a $37.00 price objective on the stock in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $31.36.

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About MaxLinear

MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.

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