Inspire Investing LLC Sells 1,661 Shares of MaxLinear, Inc. (NYSE:MXL)

Inspire Investing LLC trimmed its position in shares of MaxLinear, Inc. (NYSE:MXL) by 8.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,419 shares of the semiconductor company’s stock after selling 1,661 shares during the quarter. Inspire Investing LLC’s holdings in MaxLinear were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Simplicity Wealth LLC lifted its holdings in shares of MaxLinear by 3.1% during the 2nd quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock valued at $388,000 after buying an additional 579 shares during the period. ProShare Advisors LLC lifted its holdings in shares of MaxLinear by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock valued at $286,000 after buying an additional 1,061 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after buying an additional 1,100 shares during the period. Swiss National Bank lifted its holdings in shares of MaxLinear by 0.9% during the 1st quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company’s stock valued at $2,856,000 after buying an additional 1,300 shares during the period. Finally, Texas Permanent School Fund Corp increased its stake in shares of MaxLinear by 2.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 65,248 shares of the semiconductor company’s stock worth $1,218,000 after purchasing an additional 1,375 shares in the last quarter. 90.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on MXL shares. Benchmark decreased their target price on MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Needham & Company LLC cut MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Craig Hallum decreased their target price on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus raised 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. Finally, Susquehanna decreased their target price on MaxLinear from $30.00 to $26.00 and set a “positive” rating on the stock in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.67.

Insider Transactions at MaxLinear

In other news, CEO Kishore Seendripu bought 108,303 shares of MaxLinear stock in a transaction dated Tuesday, July 30th. The shares were purchased at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the completion of the acquisition, the chief executive officer now owns 531,937 shares of the company’s stock, valued at approximately $6,883,264.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.60% of the company’s stock.

MaxLinear Price Performance

NYSE:MXL opened at $14.31 on Tuesday. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The business’s 50-day simple moving average is $14.67 and its two-hundred day simple moving average is $17.97. The stock has a market cap of $1.19 billion, a PE ratio of -7.57 and a beta of 1.84. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59.

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