Rhumbline Advisers Purchases 4,760 Shares of MaxLinear, Inc. (NYSE:MXL)

Rhumbline Advisers boosted its position in MaxLinear, Inc. (NYSE:MXL) by 2.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,267 shares of the semiconductor company’s stock after purchasing an additional 4,760 shares during the quarter. Rhumbline Advisers owned about 0.27% of MaxLinear worth $4,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of MaxLinear during the first quarter worth $27,000. Innealta Capital LLC bought a new position in MaxLinear during the second quarter worth about $30,000. International Assets Investment Management LLC bought a new position in MaxLinear during the second quarter worth about $31,000. EntryPoint Capital LLC bought a new stake in MaxLinear in the 1st quarter valued at about $59,000. Finally, SG Americas Securities LLC grew its position in shares of MaxLinear by 39.5% during the 2nd quarter. SG Americas Securities LLC now owns 12,184 shares of the semiconductor company’s stock worth $245,000 after purchasing an additional 3,453 shares in the last quarter. 90.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Kishore Seendripu acquired 108,303 shares of the stock in a transaction dated Tuesday, July 30th. The stock was bought at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the transaction, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MXL. Susquehanna dropped their price target on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating for the company in a research report on Thursday, July 25th. Craig Hallum dropped their price objective on MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Stifel Nicolaus increased their target price on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Benchmark dropped their price target on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Northland Securities cut their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.67.

MaxLinear Price Performance

Shares of NYSE:MXL opened at $14.34 on Monday. MaxLinear, Inc. has a one year low of $11.08 and a one year high of $26.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -7.59 and a beta of 1.84. The firm has a 50 day simple moving average of $15.69 and a 200 day simple moving average of $18.22.

MaxLinear (NYSE:MXL) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The firm had revenue of $92.00 million for the quarter, compared to the consensus estimate of $100.25 million. MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The business’s revenue for the quarter was down 50.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. Research analysts predict that MaxLinear, Inc. will post -1.6 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.