Algert Global LLC Buys 29,353 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Algert Global LLC increased its stake in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 25.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 143,347 shares of the semiconductor company's stock after purchasing an additional 29,353 shares during the period. Algert Global LLC owned 0.17% of MaxLinear worth $2,835,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MXL. The Manufacturers Life Insurance Company raised its position in MaxLinear by 3,698.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company's stock valued at $30,173,000 after purchasing an additional 1,485,256 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of MaxLinear in the 4th quarter worth approximately $25,027,000. Assenagon Asset Management S.A. grew its holdings in shares of MaxLinear by 339.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company's stock valued at $24,740,000 after purchasing an additional 966,468 shares during the last quarter. Victory Capital Management Inc. raised its position in MaxLinear by 422.1% in the 4th quarter. Victory Capital Management Inc. now owns 815,931 shares of the semiconductor company's stock worth $16,139,000 after purchasing an additional 659,662 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in MaxLinear by 44.6% in the third quarter. JPMorgan Chase & Co. now owns 935,739 shares of the semiconductor company's stock worth $13,550,000 after purchasing an additional 288,607 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MaxLinear

In other 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 SEC, which is available at the SEC website. Insiders own 7.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Loop Capital dropped their target price on MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. 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. Benchmark reissued a "buy" rating and issued a $20.00 price target on shares of MaxLinear in a report on Thursday, April 24th. Needham & Company LLC reiterated a "hold" rating on shares of MaxLinear in a report on Thursday, January 30th. Finally, Wells Fargo & Company raised their target price on MaxLinear from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. 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, MaxLinear has an average rating of "Hold" and a consensus target price of $19.06.

MaxLinear Stock Performance

MXL stock traded up $0.12 during trading on Friday, reaching $11.34. The stock had a trading volume of 644,681 shares, compared to its average volume of 1,428,334. 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 cap of $959.75 million, a PE ratio of -3.87 and a beta of 1.66. MaxLinear, Inc. has a 52 week low of $8.35 and a 52 week high of $26.59. The stock's 50 day moving average is $11.17 and its two-hundred day moving average is $15.50.

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 analysts' consensus estimates of ($0.05). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. The business had revenue of $95.93 million during the quarter, compared to analysts' expectations of $95.32 million. During the same quarter in the prior year, the business posted ($0.21) earnings per share. The business's quarterly revenue was up .7% on a year-over-year basis. As a group, equities analysts anticipate that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

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.