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

Bank of America Corp DE lowered its position in MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 53.9% during the fourth quarter, according to its most recent filing with the SEC. 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 0.09% of MaxLinear worth $1,554,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of MaxLinear in the fourth quarter valued at approximately $34,000. Pacer Advisors Inc. increased its holdings in MaxLinear by 29.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 443 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in MaxLinear during the 4th quarter worth about $45,000. Larson Financial Group LLC boosted its stake in shares of 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 purchasing an additional 2,721 shares during the period. Finally, PNC Financial Services Group Inc. increased its position 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 acquiring an additional 1,900 shares during the period. Institutional investors and hedge funds own 90.79% of the company's stock.

MaxLinear Stock Performance

Shares of MXL traded up $0.17 during mid-day trading on Friday, reaching $12.28. 849,802 shares of the company's stock were exchanged, compared to its average volume of 1,467,712. The business's fifty day simple moving average is $10.98 and its 200-day simple moving average is $15.15. MaxLinear, Inc. has a 52-week low of $8.35 and a 52-week high of $26.59. The stock has a market capitalization of $1.04 billion, a PE ratio of -4.19 and a beta of 1.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. The company had revenue of $95.93 million for the quarter, compared to the consensus estimate of $95.32 million. During the same period last year, the firm posted ($0.21) EPS. MaxLinear's revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts expect that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

MXL has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price target 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. Loop Capital dropped their target price on MaxLinear from $18.00 to $10.00 and set a "hold" rating on the stock in a report on Tuesday, April 29th. Roth Capital set a $11.00 price target on MaxLinear and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Benchmark reiterated a "buy" rating and issued a $20.00 price objective on shares of MaxLinear in a report on Thursday, April 24th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $19.06.

Insider Activity

In related 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 transaction 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 $779,948. This represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 7.80% of the company's stock.

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.