Morse Asset Management Inc Makes New $505,000 Investment in MaxLinear, Inc. (NYSE:MXL)

Morse Asset Management Inc bought a new stake in MaxLinear, Inc. (NYSE:MXL) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 25,080 shares of the semiconductor company’s stock, valued at approximately $505,000.

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

Insider Activity

In other news, CEO Kishore Seendripu bought 108,303 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average price 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 in the company, valued at $6,883,264.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.60% of the company’s stock.

MaxLinear Trading Down 3.4 %

Shares of MXL stock opened at $13.93 on Monday. 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 $1.16 billion, a PE ratio of -7.37 and a beta of 1.84. The stock has a fifty day moving average of $14.87 and a two-hundred day moving average of $18.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.09.

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

Analyst Upgrades and Downgrades

MXL has been the topic of a number of research reports. Craig Hallum dropped their target price on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Benchmark cut their target price on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Needham & Company LLC downgraded MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Northland Securities dropped their price target on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Susquehanna reduced their price objective on MaxLinear from $30.00 to $26.00 and set a “positive” rating for the company in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.67.

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.