MaxLinear, Inc. (NASDAQ:MXL) Stock Position Lifted by Point72 Asset Management L.P.

Point72 Asset Management L.P. increased its holdings in MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 1,813.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,256,300 shares of the semiconductor company's stock after purchasing an additional 1,190,647 shares during the period. Point72 Asset Management L.P. owned approximately 1.48% of MaxLinear worth $24,850,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new position in shares of MaxLinear in the 4th quarter worth about $25,659,000. ProShare Advisors LLC boosted its holdings in shares of MaxLinear by 44.7% in the fourth quarter. ProShare Advisors LLC now owns 23,996 shares of the semiconductor company's stock worth $475,000 after buying an additional 7,409 shares during the last quarter. Nomura Holdings Inc. bought a new stake in MaxLinear during the 4th quarter worth approximately $1,429,000. Nuveen Asset Management LLC raised its stake in MaxLinear by 135.1% during the 4th quarter. Nuveen Asset Management LLC now owns 1,048,406 shares of the semiconductor company's stock worth $20,737,000 after acquiring an additional 602,540 shares during the period. Finally, Millennium Management LLC raised its stake in MaxLinear by 311.9% during the 4th quarter. Millennium Management LLC now owns 841,993 shares of the semiconductor company's stock worth $16,655,000 after acquiring an additional 637,567 shares during the period. Hedge funds and other institutional investors own 90.79% of the company's stock.

Insider Activity

In other news, Director Ted L. Tewksbury III sold 6,071 shares of MaxLinear 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 completion of the transaction, the director now directly owns 74,995 shares of the company's stock, valued at approximately $779,948. The trade was a 7.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 7.80% of the company's stock.

Analyst Ratings Changes

MXL has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of MaxLinear from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Needham & Company LLC reiterated a "hold" rating on shares of MaxLinear in a research note on Thursday, January 30th. Susquehanna lowered their price objective on MaxLinear from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Benchmark reiterated a "buy" rating and issued a $20.00 target price on shares of MaxLinear in a research report on Thursday, April 24th. Finally, Stifel Nicolaus dropped their price objective on shares of MaxLinear from $26.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, MaxLinear currently has an average rating of "Hold" and an average target price of $19.06.

MaxLinear Stock Performance

MXL traded up $0.02 during trading on Tuesday, reaching $12.07. The company's stock had a trading volume of 910,830 shares, compared to its average volume of 1,441,780. The company's fifty day moving average price is $11.18 and its 200-day moving average price is $15.40. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.12 and a beta of 1.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.77. MaxLinear, Inc. has a 52-week low of $8.35 and a 52-week high of $26.59.

MaxLinear (NASDAQ:MXL - Get Free Report) last released 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 company 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%. The firm's revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the company earned ($0.21) EPS. On average, equities analysts forecast that MaxLinear, Inc. will post -0.37 earnings per share for the current fiscal 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.