Assenagon Asset Management S.A. Decreases Stock Holdings in MaxLinear, Inc (NASDAQ:MXL)

Assenagon Asset Management S.A. reduced its position in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 68.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 395,826 shares of the semiconductor company's stock after selling 854,943 shares during the period. Assenagon Asset Management S.A. owned about 0.47% of MaxLinear worth $4,299,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MXL. Aster Capital Management DIFC Ltd purchased a new stake in MaxLinear in the fourth quarter worth approximately $34,000. Wealthfront Advisers LLC bought a new position in MaxLinear in the fourth quarter valued at about $45,000. Larson Financial Group LLC lifted its holdings in MaxLinear by 3,092.0% in the fourth quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company's stock valued at $56,000 after acquiring an additional 2,721 shares during the period. PNC Financial Services Group Inc. boosted its position in MaxLinear by 95.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,891 shares of the semiconductor company's stock worth $77,000 after purchasing an additional 1,900 shares during the last quarter. Finally, AlphaQuest LLC grew its stake in shares of MaxLinear by 13,836.7% during the 4th quarter. AlphaQuest LLC now owns 4,181 shares of the semiconductor company's stock valued at $83,000 after purchasing an additional 4,151 shares during the period. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

MaxLinear Price Performance

MaxLinear stock traded up $0.35 during mid-day trading on Thursday, hitting $13.11. The stock had a trading volume of 1,329,072 shares, compared to its average volume of 1,483,687. MaxLinear, Inc has a one year low of $8.35 and a one year high of $26.59. The company has a current ratio of 1.63, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.11 billion, a P/E ratio of -4.98 and a beta of 1.68. The firm's 50 day moving average is $11.35 and its 200 day moving average is $14.98.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). MaxLinear had a negative return on equity of 21.86% and a negative net margin of 61.63%. The business had revenue of $95.93 million for the quarter, compared to the consensus estimate of $95.32 million. During the same period in the previous year, the business earned ($0.21) earnings per share. The business's revenue was up .7% on a year-over-year basis. On average, sell-side analysts forecast that MaxLinear, Inc will post -0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MXL. Stifel Nicolaus lowered their price objective on shares of MaxLinear from $26.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Benchmark reiterated a "buy" rating and set a $20.00 price target on shares of MaxLinear in a research note on Thursday, April 24th. Loop Capital reduced their price objective on MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a research note on Tuesday, April 29th. Finally, Roth Capital set a $11.00 target price on MaxLinear and gave the company a "neutral" rating in a research report on Thursday, April 24th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, MaxLinear currently has an average rating of "Hold" and an average price target of $19.06.

Insiders Place Their Bets

In other MaxLinear news, Director Ted L. Tewksbury III sold 6,071 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $10.40, for a total value of $63,138.40. Following the sale, the director now owns 74,995 shares in the company, valued at $779,948. The trade was a 7.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.80% of the stock is currently owned by corporate insiders.

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.