Bank of New York Mellon Corp Lowers Position in MaxLinear, Inc (NASDAQ:MXL)

Bank of New York Mellon Corp reduced its position in MaxLinear, Inc (NASDAQ:MXL - Free Report) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,235 shares of the semiconductor company's stock after selling 19,504 shares during the quarter. Bank of New York Mellon Corp owned 0.53% of MaxLinear worth $4,911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MXL. The Manufacturers Life Insurance Company raised its holdings in shares of MaxLinear by 3,698.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company's stock valued at $30,173,000 after acquiring an additional 1,485,256 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of MaxLinear in the fourth quarter valued at about $25,659,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of MaxLinear in the fourth quarter valued at about $25,027,000. Point72 Asset Management L.P. raised its holdings in shares of MaxLinear by 1,813.5% in the fourth quarter. Point72 Asset Management L.P. now owns 1,256,300 shares of the semiconductor company's stock valued at $24,850,000 after acquiring an additional 1,190,647 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of MaxLinear in the fourth quarter valued at about $12,675,000. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Stock Up 2.3%

Shares of MXL stock traded up $0.38 during trading hours on Monday, reaching $16.74. 2,208,411 shares of the company's stock were exchanged, compared to its average volume of 1,553,233. MaxLinear, Inc has a 1 year low of $8.35 and a 1 year high of $25.73. The stock has a market cap of $1.42 billion, a PE ratio of -6.78 and a beta of 1.72. The company has a current ratio of 1.55, a quick ratio of 1.14 and a debt-to-equity ratio of 0.25. The stock's fifty day moving average price is $13.59 and its two-hundred day moving average price is $13.97.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The semiconductor company reported $0.02 earnings per share for the quarter, hitting analysts' consensus estimates of $0.02. The business had revenue of $108.81 million for the quarter, compared to analyst estimates of $104.94 million. MaxLinear had a negative return on equity of 18.16% and a negative net margin of 55.53%. The company's revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.25) earnings per share. Research analysts predict that MaxLinear, Inc will post -0.37 EPS for the current year.

Insider Buying and Selling

In related news, Director Ted L. Tewksbury III sold 6,071 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $10.40, for a total value of $63,138.40. Following the sale, the director owned 74,995 shares in the company, valued at $779,948. This represents a 7.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MXL shares. Wall Street Zen upgraded MaxLinear from a "hold" rating to a "buy" rating in a report on Saturday. Benchmark boosted their target price on shares of MaxLinear from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday. Stifel Nicolaus boosted their target price on shares of MaxLinear from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Loop Capital reduced their target price on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. Finally, Susquehanna boosted their target price on shares of MaxLinear from $11.00 to $15.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, MaxLinear currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.69.

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.