Millennium Management LLC boosted its holdings in MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 311.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 841,993 shares of the semiconductor company's stock after buying an additional 637,567 shares during the quarter. Millennium Management LLC owned approximately 0.99% of MaxLinear worth $16,655,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in MXL. Barclays PLC raised its holdings in MaxLinear by 47.6% in the 3rd quarter. Barclays PLC now owns 335,804 shares of the semiconductor company's stock valued at $4,860,000 after buying an additional 108,346 shares during the last quarter. Pacer Advisors Inc. raised 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 buying an additional 443 shares during the last quarter. R Squared Ltd bought a new position in MaxLinear in the 4th quarter valued at approximately $45,000. Vaughan Nelson Investment Management L.P. raised its holdings in MaxLinear by 10.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company's stock valued at $25,098,000 after buying an additional 115,867 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in MaxLinear by 2.9% in the 4th quarter. Rhumbline Advisers now owns 225,145 shares of the semiconductor company's stock valued at $4,453,000 after buying an additional 6,385 shares during the last quarter. Institutional investors own 90.79% of the company's stock.
Insider Transactions at MaxLinear
In other news, Director Ted L. Tewksbury III sold 6,071 shares of the firm's stock in a transaction that occurred on 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 sale, the director now owns 74,995 shares of the company's stock, valued at $779,948. This trade represents a 7.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 7.80% of the company's stock.
MaxLinear Trading Up 2.9%
Shares of MXL stock traded up $0.34 during trading hours on Tuesday, hitting $11.91. 856,157 shares of the company were exchanged, compared to its average volume of 1,446,978. The firm has a market cap of $1.01 billion, a P/E ratio of -4.06 and a beta of 1.66. MaxLinear, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $26.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.77. The company has a 50 day simple moving average of $11.05 and a two-hundred day simple moving average of $15.30.
MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $95.93 million during the quarter, compared to the consensus estimate of $95.32 million. MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. The company's quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) EPS. Equities analysts anticipate that MaxLinear, Inc. will post -0.37 EPS for the current year.
Analyst Ratings Changes
Several research analysts have issued reports on MXL shares. Stifel Nicolaus lowered their price target on shares of MaxLinear from $26.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Loop Capital lowered their price target 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. Needham & Company LLC restated a "hold" rating on shares of MaxLinear in a report on Thursday, January 30th. Benchmark restated a "buy" rating and set a $20.00 price target on shares of MaxLinear in a report on Thursday, April 24th. Finally, Wells Fargo & Company raised their price target on shares of MaxLinear from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $19.06.
Read Our Latest Analysis on MXL
About MaxLinear
(
Free Report)
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.
Read More
Before you consider MaxLinear, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MaxLinear wasn't on the list.
While MaxLinear currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
