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Holly LaFon
Holly LaFon
Articles (10163)  | Author's Website |

George Soros Makes Major Increase to MaxLinear Holding

June 05, 2015 | About:

George Soros (Trades, Portfolio) made a significant share purchase of his holding MaxLinear Inc. (NYSE:MXL) on May 26, according to a filing released June 5 on GuruFocus Real Time Picks.

Soros’ acquisition of 1,919,273 shares represents a 250.34% increase over his previous holding of 766,666 shares purchased in the first quarter this year. After the transaction he held 2,685,939 shares in total, or 5.19% of the company.

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Max Linear is a $623.8 million market cap maker of radio-frequency analog and mixed-signal semiconductors for broadband communications applications used in cable, satellite and over-the-air applications.

The company’s share price surged 44.5% year to date to close at $10.71 per share on Friday.

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For the first quarter, MaxLinear announced revenue of $35.4 million, a 9% increase from the same quarter a year ago, driven by strong demand across its cable and satellite platform solutions, with satellite revenue nearly doubling quarter over quarter.

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The company also had a net loss of $4.7 million, or $0.12 per diluted share including $2.5 million in fees and expenses related to its acquisition of Entropic Communications and $0.6 million in severance costs. The results compared to a net loss of $2.5 million, or $0.9 million, or $0.02 per diluted share for the same quarter a year ago. It ended the quarter with $81.3 million in cash on its balance sheet, versus $79.4 million at year-end.

MaxLinear’s share price was near a three-year high on Friday and its P/S ratio of 2.7 was near a one-year high. Its P/B ratio is 4.

Other Gurus with investments in MaxLinear are Chuck Royce (Trades, Portfolio), RS Investment Management (Trades, Portfolio) and Jim Simons (Trades, Portfolio).

For more stock trades of gurus in real time, visit GuruFocus’ Real Time Picks, a Premium Feature. Not a Premium Member of GuruFocus? Try it free for 7 days here.

About the author:

Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

Visit Holly LaFon's Website


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