MaxLinear, Inc. (NYSE:MXL) Position Cut by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lowered its position in shares of MaxLinear, Inc. (NYSE:MXL) by 5.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,484,324 shares of the semiconductor company’s stock after selling 91,058 shares during the period. D. E. Shaw & Co. Inc. owned 1.79% of MaxLinear worth $29,894,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of MaxLinear in the first quarter valued at approximately $27,000. Innealta Capital LLC acquired a new stake in MaxLinear in the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new stake in MaxLinear during the 2nd quarter valued at $31,000. Canada Pension Plan Investment Board acquired a new position in MaxLinear during the 2nd quarter worth $56,000. Finally, EntryPoint Capital LLC bought a new position in shares of MaxLinear in the first quarter worth $59,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

Analysts Set New Price Targets

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

MaxLinear Trading Down 0.7 %

Shares of NYSE MXL opened at $15.20 on Friday. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. MaxLinear, Inc. has a 12 month low of $11.08 and a 12 month high of $26.59. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -8.04 and a beta of 1.84. The business has a fifty day simple moving average of $13.91 and a 200-day simple moving average of $17.85.

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

Insiders Place Their Bets

In other MaxLinear news, CEO Kishore Seendripu bought 108,303 shares of MaxLinear stock in a transaction dated Tuesday, July 30th. The stock was bought at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the acquisition, 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.60% of the company’s stock.

About MaxLinear

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.