Edgestream Partners L.P. Acquires New Shares in MaxLinear, Inc (NASDAQ:MXL)

Edgestream Partners L.P. acquired a new stake in shares of MaxLinear, Inc (NASDAQ:MXL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 172,190 shares of the semiconductor company's stock, valued at approximately $1,870,000. Edgestream Partners L.P. owned about 0.20% of MaxLinear at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MXL. Price T Rowe Associates Inc. MD raised its holdings in shares of MaxLinear by 1.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 60,406 shares of the semiconductor company's stock worth $1,195,000 after buying an additional 631 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of MaxLinear in the 4th quarter valued at $34,000. PNC Financial Services Group Inc. boosted its position in shares of 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 purchasing an additional 1,900 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in MaxLinear by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,394 shares of the semiconductor company's stock worth $898,000 after acquiring an additional 2,004 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in MaxLinear by 1.6% during the fourth quarter. Swiss National Bank now owns 156,773 shares of the semiconductor company's stock worth $3,101,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.

Insiders Place Their Bets

In related news, Director Ted L. Tewksbury III sold 6,071 shares of MaxLinear 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 transaction, the director directly owned 74,995 shares in the company, valued at $779,948. This trade represents a 7.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on MXL. Wells Fargo & Company set a $13.00 price objective on shares of MaxLinear and gave the company an "equal weight" rating in a research report on Wednesday. Stifel Nicolaus cut their price target on shares of MaxLinear from $26.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Loop Capital cut their price target on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating on the stock in a research report on Tuesday, April 29th. Benchmark reissued a "buy" rating and set a $20.00 price objective on shares of MaxLinear in a research report on Thursday, April 24th. Finally, Roth Capital set a $11.00 price target on shares of MaxLinear and gave the company a "neutral" rating in a research report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.19.

MaxLinear Stock Up 6.9%

MXL stock opened at $15.59 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.19. The firm's fifty day simple moving average is $13.05 and its 200-day simple moving average is $14.25. MaxLinear, Inc has a 12 month low of $8.35 and a 12 month high of $26.13. The company has a market capitalization of $1.32 billion, a P/E ratio of -5.93 and a beta of 1.72.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) EPS for the quarter, meeting analysts' consensus estimates of ($0.05). MaxLinear had a negative net margin of 61.63% and a negative return on equity of 21.86%. The business had revenue of $95.93 million during the quarter, compared to analysts' expectations of $95.32 million. During the same period in the prior year, the business earned ($0.21) earnings per share. The company's quarterly revenue was up .7% compared to the same quarter last year. As a group, equities research analysts forecast that MaxLinear, Inc will post -0.37 earnings per share for the current year.

MaxLinear Company 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.

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