Stifel Financial Corp Lowers Stock Position in MaxLinear, Inc. (NASDAQ:MXL)

Stifel Financial Corp reduced its position in MaxLinear, Inc. (NASDAQ:MXL) by 30.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,953 shares of the semiconductor company’s stock after selling 10,387 shares during the quarter. Stifel Financial Corp’s holdings in MaxLinear were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MXL. Innealta Capital LLC purchased a new stake in MaxLinear during the second quarter worth approximately $30,000. International Assets Investment Management LLC acquired a new position in shares of MaxLinear during the 2nd quarter valued at $31,000. Canada Pension Plan Investment Board purchased a new stake in MaxLinear during the 2nd quarter worth $56,000. Truvestments Capital LLC acquired a new stake in MaxLinear in the 3rd quarter valued at $42,000. Finally, GAMMA Investing LLC raised its position 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 purchasing an additional 2,093 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Benchmark upped their price target on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Wells Fargo & Company started coverage on shares of MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price on the stock. Finally, Craig Hallum decreased their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.14.

MaxLinear Trading Down 2.4 %

NASDAQ MXL opened at $20.50 on Friday. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -7.54 and a beta of 1.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. MaxLinear, Inc. has a 12 month low of $11.08 and a 12 month high of $26.59. The company’s fifty day moving average price is $16.60 and its two-hundred day moving average price is $16.27.

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

Insider Activity

In other MaxLinear news, insider Steven G. Litchfield sold 32,000 shares of MaxLinear stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the completion of the transaction, the insider now directly owns 365,868 shares in the company, valued at $7,445,413.80. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Connie H. Kwong sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the sale, the insider now owns 49,147 shares in the company, valued at $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 ninety days, insiders sold 48,900 shares of company stock worth $927,278. 8.60% of the stock is currently owned by insiders.

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.