Assenagon Asset Management S.A. Invests $7.55 Million in MaxLinear, Inc. (NYSE:MXL)

Assenagon Asset Management S.A. bought a new position in shares of MaxLinear, Inc. (NYSE:MXL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 317,771 shares of the semiconductor company's stock, valued at approximately $7,553,000. Assenagon Asset Management S.A. owned about 0.39% of MaxLinear as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Raymond James & Associates increased its stake in MaxLinear by 41.2% in the first quarter. Raymond James & Associates now owns 17,748 shares of the semiconductor company's stock valued at $1,036,000 after purchasing an additional 5,183 shares in the last quarter. American Century Companies Inc. bought a new stake in MaxLinear in the first quarter valued at $864,000. Cambridge Investment Research Advisors Inc. increased its stake in MaxLinear by 22.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,298 shares of the semiconductor company's stock valued at $309,000 after purchasing an additional 955 shares in the last quarter. Citigroup Inc. increased its stake in MaxLinear by 4.0% in the first quarter. Citigroup Inc. now owns 76,387 shares of the semiconductor company's stock valued at $4,457,000 after purchasing an additional 2,937 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in MaxLinear by 26.8% in the first quarter. Bank of Montreal Can now owns 23,413 shares of the semiconductor company's stock valued at $1,455,000 after purchasing an additional 4,947 shares in the last quarter. Institutional investors own 90.79% of the company's stock.

MaxLinear Stock Performance

Shares of MXL stock traded up $0.16 during trading on Friday, reaching $18.67. 478,232 shares of the company's stock traded hands, compared to its average volume of 577,353. The company has a market capitalization of $1.53 billion, a P/E ratio of -20.98 and a beta of 1.99. The company has a current ratio of 2.20, a quick ratio of 1.75 and a debt-to-equity ratio of 0.18. The firm's 50-day moving average is $19.48 and its 200 day moving average is $20.00. MaxLinear, Inc. has a 1 year low of $13.43 and a 1 year high of $35.40.

MaxLinear (NYSE:MXL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported ($0.17) EPS for the quarter, meeting analysts' consensus estimates of ($0.17). MaxLinear had a negative net margin of 10.55% and a positive return on equity of 4.77%. The company had revenue of $125.35 million for the quarter, compared to analysts' expectations of $125.06 million. Equities research analysts expect that MaxLinear, Inc. will post -0.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MXL shares. Needham & Company LLC reduced their price objective on shares of MaxLinear from $28.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, February 1st. Wells Fargo & Company cut shares of MaxLinear from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $35.00 to $25.00 in a report on Wednesday, January 3rd. Finally, StockNews.com upgraded shares of MaxLinear from a "sell" rating to a "hold" rating in a report on Thursday, February 29th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $25.18.

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.