Point72 Asia Singapore Pte. Ltd. Sells 2,473 Shares of MaxLinear, Inc. (NYSE:MXL)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in MaxLinear, Inc. (NYSE:MXL) by 50.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,433 shares of the semiconductor company’s stock after selling 2,473 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in MaxLinear were worth $49,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. US Bancorp DE increased its holdings in shares of MaxLinear by 491.6% during the 4th quarter. US Bancorp DE now owns 31,152 shares of the semiconductor company’s stock worth $740,000 after acquiring an additional 25,886 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of MaxLinear by 36.6% in the fourth quarter. Hsbc Holdings PLC now owns 155,056 shares of the semiconductor company’s stock valued at $3,689,000 after acquiring an additional 41,559 shares in the last quarter. Aristides Capital LLC acquired a new position in shares of MaxLinear during the 4th quarter worth approximately $312,000. Vanguard Group Inc. boosted its stake in shares of MaxLinear by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock valued at $275,406,000 after buying an additional 903,235 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in MaxLinear by 291.5% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,873 shares of the semiconductor company’s stock worth $2,873,000 after acquiring an additional 90,000 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MXL. Susquehanna decreased their target price on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating on the stock in a research note on Thursday, July 25th. Needham & Company LLC lowered MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Northland Securities decreased their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Craig Hallum lowered their target price on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Finally, Benchmark reduced their target price on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.67.

Insider Activity

In related news, CEO Kishore Seendripu acquired 108,303 shares of the company’s 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 directly owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.60% of the company’s stock.

MaxLinear Trading Down 4.7 %

Shares of NYSE MXL opened at $14.48 on Tuesday. The business’s 50 day moving average is $13.91 and its two-hundred day moving average is $17.83. MaxLinear, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59. The stock has a market capitalization of $1.20 billion, a P/E ratio of -7.66 and a beta of 1.84. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The business 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 company earned $0.19 EPS. The business’s revenue was down 50.0% compared to the same quarter last year. As a group, research analysts expect that MaxLinear, Inc. will post -1.6 EPS for the current 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.