Point72 Hong Kong Ltd Makes New Investment in MaxLinear, Inc. (NASDAQ:MXL)

Point72 Hong Kong Ltd bought a new position in MaxLinear, Inc. (NASDAQ:MXL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,297,210 shares of the semiconductor company's stock, valued at approximately $25,659,000. MaxLinear accounts for 1.6% of Point72 Hong Kong Ltd's investment portfolio, making the stock its 11th largest holding. Point72 Hong Kong Ltd owned approximately 1.53% of MaxLinear as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MXL. Pacer Advisors Inc. grew its holdings in MaxLinear by 29.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 443 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of MaxLinear by 1.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 60,406 shares of the semiconductor company's stock valued at $1,195,000 after buying an additional 631 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of MaxLinear in the fourth quarter valued at approximately $34,000. PNC Financial Services Group Inc. raised its stake in MaxLinear by 95.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,891 shares of the semiconductor company's stock valued at $77,000 after acquiring an additional 1,900 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in MaxLinear by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,394 shares of the semiconductor company's stock valued at $898,000 after acquiring an additional 2,004 shares during the period. 90.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

MaxLinear Trading Down 3.1%

Shares of NASDAQ:MXL traded down $0.38 during midday trading on Monday, reaching $12.05. The company's stock had a trading volume of 875,703 shares, compared to its average volume of 1,439,495. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.11 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. The firm has a 50 day moving average price of $11.20 and a two-hundred day moving average price of $15.43. 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 announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $95.93 million during the quarter, compared to the consensus estimate of $95.32 million. MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. The company's quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) EPS. As a group, analysts forecast that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MXL shares. Benchmark reissued a "buy" rating and set a $20.00 price target on shares of MaxLinear in a research report on Thursday, April 24th. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a report on Thursday, January 30th. Loop Capital cut their price objective on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Roth Capital set a $11.00 target price on shares of MaxLinear and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus reduced their target price on MaxLinear from $26.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Five investment 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 a consensus target price of $19.06.

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.