Wellington Management Group LLP Invests $3.71 Million in MaxLinear, Inc. (NASDAQ:MXL)

Wellington Management Group LLP purchased a new position in MaxLinear, Inc. (NASDAQ:MXL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 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.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of MaxLinear by 47.6% during the 3rd quarter. Barclays PLC now owns 335,804 shares of the semiconductor company's stock worth $4,860,000 after purchasing an additional 108,346 shares during the last quarter. Pacer Advisors Inc. raised its position 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 worth $39,000 after buying an additional 443 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of 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 acquiring an additional 115,867 shares during the period. Rhumbline Advisers grew its stake in shares of MaxLinear by 2.9% in the fourth 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 in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of MaxLinear by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 374,722 shares of the semiconductor company's stock valued at $7,412,000 after purchasing an additional 12,838 shares during the period. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Stock Performance

MXL traded up $0.17 during trading hours on Friday, hitting $12.28. The company's stock had a trading volume of 849,802 shares, compared to its average volume of 1,467,712. MaxLinear, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $26.59. The firm has a market capitalization of $1.04 billion, a PE ratio of -4.19 and a beta of 1.66. The company has a 50-day simple moving average of $10.98 and a 200 day simple moving average of $15.15. The company has a current ratio of 1.77, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued 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 firm had revenue of $95.93 million for the quarter, compared to analysts' expectations of $95.32 million. MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. MaxLinear's revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.21) earnings per share. As a group, sell-side analysts expect that MaxLinear, Inc. will post -0.37 EPS for the current year.

Insider Activity at MaxLinear

In other MaxLinear 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 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 at this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on MXL. Roth Capital set a $11.00 price target on MaxLinear and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Loop Capital reduced their price objective on MaxLinear from $18.00 to $10.00 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. Stifel Nicolaus decreased their price objective 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. Finally, Benchmark reaffirmed a "buy" rating and set a $20.00 price objective on shares of MaxLinear in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, MaxLinear currently has an average rating of "Hold" and a consensus price target of $19.06.

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.