Voya Investment Management LLC trimmed its holdings in MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 48.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 190,922 shares of the semiconductor company's stock after selling 176,153 shares during the quarter. Voya Investment Management LLC owned 0.23% of MaxLinear worth $3,776,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 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 acquiring an additional 443 shares during the period. Price T Rowe Associates Inc. MD boosted its position in MaxLinear by 1.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 60,406 shares of the semiconductor company's stock worth $1,195,000 after purchasing an additional 631 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of MaxLinear by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company's stock worth $82,000 after purchasing an additional 662 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of MaxLinear during the 4th quarter valued at approximately $34,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of MaxLinear by 95.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,891 shares of the semiconductor company's stock valued at $77,000 after purchasing an additional 1,900 shares in the last quarter. 90.79% of the stock is owned by institutional investors and hedge funds.
MaxLinear Price Performance
Shares of MXL traded down $0.11 during trading hours on Wednesday, hitting $10.46. 86,689 shares of the stock were exchanged, compared to its average volume of 1,415,803. The stock's 50-day moving average price is $11.34 and its two-hundred day moving average price is $15.57. MaxLinear, Inc. has a 12-month low of $8.35 and a 12-month high of $26.59. 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 company has a market cap of $885.27 million, a price-to-earnings ratio of -3.56 and a beta of 1.66.
MaxLinear (NASDAQ:MXL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.05). The business had revenue of $95.93 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. Research analysts expect that MaxLinear, Inc. will post -0.37 earnings per share for the current year.
Insiders Place Their Bets
In other MaxLinear news, Director Ted L. Tewksbury III sold 6,071 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $10.40, for a total value of $63,138.40. Following the completion of the sale, the director now directly owns 74,995 shares of the company's stock, valued at $779,948. This trade represents a 7.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.80% of the company's stock.
Analysts Set New Price Targets
MXL has been the topic of several analyst reports. Susquehanna dropped their price target on shares of MaxLinear from $25.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Benchmark restated a "buy" rating and issued a $20.00 price target on shares of MaxLinear in a research note on Thursday, April 24th. Loop Capital lowered their price target on MaxLinear from $18.00 to $10.00 and set a "hold" rating on the stock in a research report on Tuesday, April 29th. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a report on Thursday, January 30th. Finally, Wells Fargo & Company upped 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.06.
Read Our Latest Analysis on MXL
About MaxLinear
(
Free Report)
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.
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