State Street Corp Acquires 198,791 Shares of MaxLinear, Inc. (NASDAQ:MXL)

State Street Corp boosted its holdings in MaxLinear, Inc. (NASDAQ:MXL) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,123,419 shares of the semiconductor company’s stock after buying an additional 198,791 shares during the period. State Street Corp owned approximately 4.89% of MaxLinear worth $59,707,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Hood River Capital Management LLC acquired a new stake in MaxLinear during the second quarter worth about $24,184,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of MaxLinear during the 3rd quarter worth approximately $16,696,000. Millennium Management LLC grew its holdings in shares of MaxLinear by 307.9% during the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after purchasing an additional 788,558 shares in the last quarter. FMR LLC increased its position in shares of MaxLinear by 184.5% during the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock valued at $6,616,000 after purchasing an additional 296,339 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in MaxLinear by 36.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock worth $15,770,000 after purchasing an additional 291,874 shares during the period. 90.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Ted L. Tewksbury III sold 5,800 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value of $89,088.00. Following the completion of the transaction, the director now owns 69,717 shares in the company, valued at $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Connie H. Kwong sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total transaction of $93,050.00. Following the sale, the insider now owns 49,147 shares in the company, valued at approximately $914,625.67. The trade was a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,900 shares of company stock valued at $927,278. 8.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on MXL shares. Craig Hallum lowered their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Benchmark boosted their price target on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Wells Fargo & Company began coverage on shares of MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 target price on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.14.

MaxLinear Trading Down 0.8 %

NASDAQ:MXL opened at $19.40 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. MaxLinear, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -7.13 and a beta of 1.87. The business’s 50-day moving average price is $15.64 and its two-hundred day moving average price is $16.09.

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

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.