Wellington Management Group LLP Makes New Investment in MaxLinear, Inc. (NASDAQ:MXL)

Wellington Management Group LLP acquired a new position in MaxLinear, Inc. (NASDAQ:MXL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 187,500 shares of the semiconductor company's stock, valued at approximately $3,709,000. Wellington Management Group LLP owned 0.22% of MaxLinear at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new stake in MaxLinear during the fourth quarter valued at $34,000. Pacer Advisors Inc. lifted its stake in shares of 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 during the period. Wealthfront Advisers LLC bought a new stake in shares of MaxLinear during the 4th quarter valued at about $45,000. Larson Financial Group LLC grew its stake in MaxLinear by 3,092.0% during the fourth quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company's stock worth $56,000 after purchasing an additional 2,721 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in MaxLinear by 95.4% during the fourth 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 period. 90.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other MaxLinear news, Director Ted L. Tewksbury III sold 6,071 shares of MaxLinear stock in a transaction dated 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 owns 74,995 shares in the company, valued at approximately $779,948. The trade was a 7.49% decrease in their position. 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.

MaxLinear Stock Up 1.4%

Shares of MXL traded up $0.17 during trading hours on Friday, reaching $12.28. The stock had a trading volume of 849,802 shares, compared to its average volume of 1,476,250. The firm has a 50-day simple moving average of $10.99 and a 200 day simple moving average of $15.13. MaxLinear, Inc. has a 12 month low of $8.35 and a 12 month high of $26.59. The company has a current ratio of 1.77, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -4.19 and a beta of 1.68.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on MXL. Benchmark reissued a "buy" rating and issued a $20.00 price target on shares of MaxLinear in a research note on Thursday, April 24th. Stifel Nicolaus lowered their price objective on shares of MaxLinear from $26.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Roth Capital set a $11.00 target price on shares of MaxLinear and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Finally, Loop Capital reduced 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. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.06.

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.