MaxLinear, Inc. (NASDAQ:MXL) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its holdings in MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 53.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,585 shares of the semiconductor company's stock after selling 91,778 shares during the period. Bank of America Corp DE owned about 0.09% of MaxLinear worth $1,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of MaxLinear during the fourth quarter worth $34,000. Pacer Advisors Inc. grew its stake in shares of MaxLinear by 29.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 443 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of MaxLinear during the fourth quarter worth $45,000. Larson Financial Group LLC grew its stake in shares of MaxLinear by 3,092.0% during the fourth quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company's stock worth $56,000 after purchasing an additional 2,721 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of MaxLinear by 95.4% during 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 in the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.

Insider Buying and Selling

In other MaxLinear news, Director Ted L. Tewksbury III sold 6,071 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $10.40, for a total value of $63,138.40. Following the completion of the transaction, the director now directly owns 74,995 shares of the company's stock, valued at approximately $779,948. This trade represents a 7.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.80% of the stock is currently owned by corporate insiders.

MaxLinear Stock Performance

Shares of NASDAQ:MXL traded up $0.17 on Friday, reaching $12.28. The company's stock had a trading volume of 849,802 shares, compared to its average volume of 1,476,250. The stock's 50-day moving average is $10.99 and its two-hundred day moving average is $15.13. MaxLinear, Inc. has a 52-week low of $8.35 and a 52-week high of $26.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28. The stock has a market capitalization of $1.04 billion, a P/E ratio of -4.19 and a beta of 1.68.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MXL shares. Roth Capital set a $11.00 target price on shares of MaxLinear and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Benchmark restated a "buy" rating and issued a $20.00 price objective on shares of MaxLinear in a research note on Thursday, April 24th. Stifel Nicolaus decreased their price objective on shares of MaxLinear from $26.00 to $16.00 and set a "buy" rating for the company 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 research note on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $19.06.

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.