Victory Capital Management Inc. Boosts Stock Holdings in MaxLinear, Inc. (NASDAQ:MXL)

Victory Capital Management Inc. lifted its stake in MaxLinear, Inc. (NASDAQ:MXL) by 103.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,269 shares of the semiconductor company’s stock after purchasing an additional 79,392 shares during the period. Victory Capital Management Inc. owned about 0.19% of MaxLinear worth $2,263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of MaxLinear in the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in MaxLinear in the second quarter valued at $31,000. GAMMA Investing LLC raised its stake in MaxLinear by 151.8% in the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 2,093 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in MaxLinear during the 2nd quarter worth about $56,000. Finally, EntryPoint Capital LLC purchased a new stake in MaxLinear during the 1st quarter worth about $59,000. 90.79% of the stock is owned by institutional investors and hedge funds.

MaxLinear Price Performance

Shares of MXL opened at $15.54 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. MaxLinear, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The firm has a 50-day simple moving average of $14.40 and a 200-day simple moving average of $16.21. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -5.71 and a beta of 1.85.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The company had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The firm’s revenue was down 40.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) earnings per share. On average, equities research analysts anticipate that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the sale, the vice president now directly owns 179,262 shares of the company’s stock, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Craig Hallum cut their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Benchmark restated a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company assumed coverage on shares of MaxLinear in a research note on Friday. They issued an “equal weight” rating and a $14.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.29.

MaxLinear 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.