Balyasny Asset Management L.P. Makes New Investment in MaxLinear, Inc. (NASDAQ:MXL)

Balyasny Asset Management L.P. purchased a new stake in MaxLinear, Inc. (NASDAQ:MXL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 121,186 shares of the semiconductor company's stock, valued at approximately $2,397,000. Balyasny Asset Management L.P. owned approximately 0.14% of MaxLinear as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in shares of MaxLinear by 339.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company's stock valued at $24,740,000 after acquiring an additional 966,468 shares in the last quarter. Barclays PLC increased its holdings in MaxLinear by 47.6% during the third quarter. Barclays PLC now owns 335,804 shares of the semiconductor company's stock worth $4,860,000 after buying an additional 108,346 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in MaxLinear by 10.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company's stock valued at $25,098,000 after purchasing an additional 115,867 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of MaxLinear by 3.5% during the 4th quarter. Principal Financial Group Inc. now owns 374,722 shares of the semiconductor company's stock worth $7,412,000 after acquiring an additional 12,838 shares during the period. Finally, First Trust Advisors LP purchased a new position in shares of MaxLinear in the fourth quarter worth about $280,000. 90.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MXL has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their price target on shares of MaxLinear from $26.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a research note on Thursday, January 30th. Roth Capital set a $11.00 price objective on shares of MaxLinear and gave the company a "neutral" rating in a research report on Thursday, April 24th. Benchmark reiterated a "buy" rating and issued a $20.00 price objective on shares of MaxLinear in a research report on Thursday, April 24th. Finally, Loop Capital dropped their price target on MaxLinear from $18.00 to $10.00 and set a "hold" rating on the stock in a research report on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.06.

Insider Transactions at MaxLinear

In other MaxLinear news, Director Ted L. Tewksbury III sold 6,071 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $10.40, for a total transaction of $63,138.40. Following the sale, the director now directly owns 74,995 shares in the company, valued at $779,948. This represents a 7.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.80% of the company's stock.

MaxLinear Stock Down 2.0%

Shares of NASDAQ:MXL traded down $0.26 on Friday, reaching $12.43. The company had a trading volume of 817,700 shares, compared to its average volume of 1,433,142. The firm has a market capitalization of $1.05 billion, a PE ratio of -4.24 and a beta of 1.66. The firm's 50 day simple moving average is $11.19 and its 200-day simple moving average is $15.43. MaxLinear, Inc. has a 52-week low of $8.35 and a 52-week high of $26.59. The company has a current ratio of 1.77, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. The business had revenue of $95.93 million for the quarter, compared to the consensus estimate of $95.32 million. During the same quarter in the previous year, the business earned ($0.21) EPS. The company's quarterly revenue was up .7% compared to the same quarter last year. As a group, analysts expect that MaxLinear, Inc. will post -0.37 earnings per share for the current fiscal year.

MaxLinear Company 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.