Frontier Capital Management Co. LLC Reduces Holdings in MaxLinear, Inc. (NASDAQ:MXL)

Frontier Capital Management Co. LLC decreased its holdings in MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,962,802 shares of the semiconductor company's stock after selling 509,977 shares during the period. Frontier Capital Management Co. LLC owned about 3.50% of MaxLinear worth $58,604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Deutsche Bank AG grew its stake in shares of MaxLinear by 105.8% during the fourth quarter. Deutsche Bank AG now owns 447,573 shares of the semiconductor company's stock worth $8,853,000 after purchasing an additional 230,089 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of MaxLinear during the fourth quarter worth $12,675,000. Balyasny Asset Management L.P. purchased a new stake in shares of MaxLinear during the 4th quarter worth approximately $2,397,000. Bayesian Capital Management LP purchased a new stake in shares of MaxLinear during the 4th quarter worth approximately $893,000. Finally, Algert Global LLC lifted its position in shares of MaxLinear by 25.7% during the 4th quarter. Algert Global LLC now owns 143,347 shares of the semiconductor company's stock worth $2,835,000 after buying an additional 29,353 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.

Insider Buying and Selling

In related news, Director Ted L. Tewksbury III sold 6,071 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $10.40, for a total value of $63,138.40. Following the sale, the director now directly owns 74,995 shares in the company, valued at $779,948. The trade was a 7.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

MaxLinear Stock Performance

Shares of MXL traded up $0.66 during mid-day trading on Tuesday, hitting $12.90. 852,221 shares of the company's stock were exchanged, compared to its average volume of 1,426,377. 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 firm has a market capitalization of $1.09 billion, a P/E ratio of -4.40 and a beta of 1.66. The business's 50 day moving average is $11.15 and its two-hundred day moving average is $15.48. MaxLinear, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $26.59.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $95.93 million during 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%. The firm's revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.21) earnings per share. On average, equities analysts expect that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MXL shares. Susquehanna decreased their price objective on shares of MaxLinear from $25.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Loop Capital decreased their price objective on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company 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 research note on Thursday, April 17th. Wells Fargo & Company upped their price objective on shares of MaxLinear from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Finally, Roth Capital set a $11.00 price objective on shares of MaxLinear and gave the company a "neutral" rating in a research note 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.06.

About MaxLinear

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.