Canada Pension Plan Investment Board Invests $829,000 in MaxLinear, Inc. (NASDAQ:MXL)

Canada Pension Plan Investment Board purchased a new position in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 41,900 shares of the semiconductor company's stock, valued at approximately $829,000.

Other institutional investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in MaxLinear in the fourth quarter worth $34,000. Pacer Advisors Inc. raised its holdings in shares of MaxLinear by 29.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 443 shares during the last quarter. Wealthfront Advisers LLC bought a new position in MaxLinear in the 4th quarter valued at about $45,000. R Squared Ltd bought a new position in MaxLinear in the 4th quarter valued at about $45,000. Finally, Larson Financial Group LLC boosted its stake in MaxLinear by 3,092.0% during the 4th quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company's stock valued at $56,000 after purchasing an additional 2,721 shares during the last quarter. Institutional investors own 90.79% of the company's stock.

Analyst Ratings Changes

MXL has been the subject of a number of analyst reports. Roth Capital set a $11.00 price target on MaxLinear and gave the company a "neutral" rating in a research report on Thursday, April 24th. Benchmark reiterated a "buy" rating and set a $20.00 price target on shares of MaxLinear in a report on Thursday, April 24th. Susquehanna decreased their target price on MaxLinear from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Stifel Nicolaus lowered their target price on MaxLinear from $26.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Loop Capital decreased their price objective on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a report on Tuesday. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, MaxLinear presently has an average rating of "Hold" and a consensus target price of $19.06.

MaxLinear Stock Performance

MXL traded down $0.06 on Wednesday, hitting $9.99. The company's stock had a trading volume of 1,241,256 shares, compared to its average volume of 1,409,106. The company's 50 day simple moving average is $11.70 and its 200-day simple moving average is $15.66. The company has a quick ratio of 1.28, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. MaxLinear, Inc. has a 12 month low of $8.35 and a 12 month high of $26.59. The firm has a market cap of $845.49 million, a P/E ratio of -3.41 and a beta of 1.82.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced 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). The company had revenue of $95.93 million during the quarter, compared to analysts' expectations of $95.32 million. MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. The firm's quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.21) earnings per share. Analysts forecast that MaxLinear, Inc. will post -0.37 EPS for the current year.

MaxLinear 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.