Nuveen Asset Management LLC boosted its stake in MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 135.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,048,406 shares of the semiconductor company's stock after buying an additional 602,540 shares during the period. Nuveen Asset Management LLC owned approximately 1.24% of MaxLinear worth $20,737,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of 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 period. 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 period. R Squared Ltd purchased a new stake in MaxLinear in the 4th quarter valued at about $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 period. 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 period. 90.79% of the stock is currently owned by hedge funds and other institutional investors.
MaxLinear Stock Down 3.7%
MXL traded down $0.44 on Wednesday, reaching $11.48. The company's stock had a trading volume of 818,931 shares, compared to its average volume of 1,444,563. 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 fifty-two week low of $8.35 and a fifty-two week high of $26.59. The stock has a 50 day moving average of $11.05 and a two-hundred day moving average of $15.30. The company has a market capitalization of $971.18 million, a price-to-earnings ratio of -3.92 and a beta of 1.66.
MaxLinear (NASDAQ:MXL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $95.93 million during the quarter, compared to analysts' expectations of $95.32 million. MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. The company's quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) earnings per share. As a group, analysts forecast that MaxLinear, Inc. will post -0.37 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on MXL. Wells Fargo & Company boosted their price objective on shares of MaxLinear from $19.00 to $20.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Benchmark reiterated a "buy" rating and set a $20.00 price target on shares of MaxLinear in a research note on Thursday, April 24th. Roth Capital set a $11.00 price target on shares of MaxLinear and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Stifel Nicolaus lowered their price objective on MaxLinear from $26.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Loop Capital lowered their price objective on MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.06.
Check Out Our Latest Report on MaxLinear
Insiders Place Their Bets
In other MaxLinear news, Director Ted L. Tewksbury III sold 6,071 shares of the company's stock in a transaction 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 now owns 74,995 shares of the company's stock, valued at approximately $779,948. This represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.80% of the stock is currently owned by company insiders.
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.
See Also
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
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
