MaxLinear, Inc. (NASDAQ:MXL) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its holdings in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 311.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 841,993 shares of the semiconductor company's stock after purchasing an additional 637,567 shares during the quarter. Millennium Management LLC owned about 0.99% of MaxLinear worth $16,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 valued at $1,195,000 after purchasing an additional 631 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in MaxLinear in the 4th quarter valued at about $34,000. PNC Financial Services Group Inc. raised 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 valued at $77,000 after purchasing an additional 1,900 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in MaxLinear by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,394 shares of the semiconductor company's stock valued at $898,000 after purchasing an additional 2,004 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a research report on Thursday, January 30th. Roth Capital set a $11.00 target price on MaxLinear and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Benchmark reissued a "buy" rating and set a $20.00 target price on shares of MaxLinear in a research report on Thursday, April 24th. Stifel Nicolaus cut their target price on MaxLinear from $26.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Susquehanna cut their target price on MaxLinear from $25.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $19.06.

Insider Activity at MaxLinear

In related news, Director Ted L. Tewksbury III sold 6,071 shares of MaxLinear stock in a transaction 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 completion of the transaction, the director now directly owns 74,995 shares of the company's stock, valued at approximately $779,948. The trade was a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 7.80% of the company's stock.

MaxLinear Stock Performance

NASDAQ:MXL traded down $0.10 during mid-day trading on Friday, reaching $11.57. 771,429 shares of the stock were exchanged, compared to its average volume of 1,449,350. The company has a 50 day simple moving average of $11.10 and a 200-day simple moving average of $15.35. The stock has a market capitalization of $979.22 million, a P/E ratio of -3.95 and a beta of 1.66. The company has a quick ratio of 1.28, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. MaxLinear, Inc. has a 1 year low of $8.35 and a 1 year high of $26.59.

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

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.