Assenagon Asset Management S.A. decreased its position in MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 68.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm 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.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in MaxLinear in the 4th quarter worth approximately $34,000. Wealthfront Advisers LLC purchased a new stake in MaxLinear in the 4th quarter worth approximately $45,000. Larson Financial Group LLC lifted its position in MaxLinear by 3,092.0% in the 4th quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company's stock worth $56,000 after buying an additional 2,721 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in MaxLinear by 95.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,891 shares of the semiconductor company's stock worth $77,000 after buying an additional 1,900 shares in the last quarter. Finally, AlphaQuest LLC lifted its position in MaxLinear by 13,836.7% in the 4th quarter. AlphaQuest LLC now owns 4,181 shares of the semiconductor company's stock worth $83,000 after buying an additional 4,151 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.
Insider Buying and Selling
In related news, Director Ted L. Tewksbury III sold 6,071 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.80% of the stock is owned by corporate insiders.
MaxLinear Trading Down 5.4%
MXL stock opened at $11.67 on Monday. MaxLinear, Inc. has a 1-year low of $8.35 and a 1-year high of $26.59. The firm has a market cap of $987.68 million, a P/E ratio of -3.98 and a beta of 1.68. The business's 50 day moving average is $11.22 and its 200-day moving average is $15.03. 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 released its quarterly earnings data 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 company had revenue of $95.93 million for the quarter, compared to analyst estimates of $95.32 million. During the same period in the prior year, the company posted ($0.21) EPS. The company's revenue was up .7% compared to the same quarter last year. Equities analysts anticipate that MaxLinear, Inc. will post -0.37 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on MXL. Loop Capital cut their target price on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Roth Capital set a $11.00 price objective on shares of MaxLinear and gave the stock a "neutral" rating in a report on Thursday, April 24th. Benchmark restated a "buy" rating and set a $20.00 price objective on shares of MaxLinear in a report on Thursday, April 24th. Finally, Stifel Nicolaus dropped their price objective on shares of MaxLinear from $26.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, MaxLinear presently has an average rating of "Hold" and a consensus price target of $19.06.
View Our Latest Analysis on MXL
MaxLinear Company Profile
(
Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding MXL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MaxLinear, Inc. (NASDAQ:MXL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider MaxLinear, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MaxLinear wasn't on the list.
While MaxLinear currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
