Cavalry Management Group LLC Invests $413,000 in MaxLinear, Inc. (NYSE:MXL)

Cavalry Management Group LLC acquired a new position in MaxLinear, Inc. (NYSE:MXL) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 20,522 shares of the semiconductor company’s stock, valued at approximately $413,000. MaxLinear makes up 5.7% of Cavalry Management Group LLC’s holdings, making the stock its 9th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of MaxLinear by 491.6% in the 4th quarter. US Bancorp DE now owns 31,152 shares of the semiconductor company’s stock worth $740,000 after acquiring an additional 25,886 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of MaxLinear by 36.6% in the 4th quarter. Hsbc Holdings PLC now owns 155,056 shares of the semiconductor company’s stock worth $3,689,000 after acquiring an additional 41,559 shares during the last quarter. Aristides Capital LLC acquired a new position in shares of MaxLinear in the 4th quarter worth $312,000. Vanguard Group Inc. grew its holdings in shares of MaxLinear by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock worth $275,406,000 after acquiring an additional 903,235 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of MaxLinear by 291.5% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,873 shares of the semiconductor company’s stock worth $2,873,000 after acquiring an additional 90,000 shares during the last quarter. Institutional investors own 90.79% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Kishore Seendripu purchased 108,303 shares of MaxLinear stock in a transaction on Tuesday, July 30th. The stock was bought at an average price of $12.94 per share, with a total value of $1,401,440.82. Following the completion of the transaction, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.60% of the company’s stock.

MaxLinear Price Performance

Shares of NYSE:MXL opened at $13.44 on Thursday. MaxLinear, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The business has a 50-day moving average of $13.48 and a two-hundred day moving average of $17.77. The stock has a market capitalization of $1.12 billion, a P/E ratio of -7.11 and a beta of 1.84. 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 (NYSE:MXL) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share 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 company had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. During the same period in the prior year, the firm earned $0.19 EPS. MaxLinear’s quarterly revenue was down 50.0% on a year-over-year basis. On average, equities research analysts predict that MaxLinear, Inc. will post -1.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $26.00 to $15.00 in a report on Tuesday. Benchmark lowered their price target on MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Craig Hallum lowered their price target on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus lifted their price target on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Needham & Company LLC downgraded MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.44.

About MaxLinear

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.