MaxLinear, Inc. (NYSE:MXL) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lessened its position in shares of MaxLinear, Inc. (NYSE:MXL) by 50.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in shares of MaxLinear by 58.0% during the first quarter. BNP Paribas Financial Markets now owns 265,567 shares of the semiconductor company’s stock worth $4,958,000 after acquiring an additional 97,447 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 purchasing an additional 903,235 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of MaxLinear by 291.5% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,873 shares of the semiconductor company’s stock valued at $2,873,000 after buying an additional 90,000 shares during the last quarter. Edgestream Partners L.P. raised its holdings in shares of MaxLinear by 69.5% in the first quarter. Edgestream Partners L.P. now owns 105,355 shares of the semiconductor company’s stock valued at $1,967,000 after buying an additional 43,181 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of MaxLinear during the first quarter worth about $59,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MXL. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and dropped their price target for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Northland Securities cut their price target on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Needham & Company LLC downgraded MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Benchmark dropped their price objective on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Craig Hallum cut their price objective on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.44.

MaxLinear Stock Performance

NYSE:MXL opened at $13.42 on Friday. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. MaxLinear, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The firm’s fifty day simple moving average is $13.30 and its 200-day simple moving average is $17.68. The stock has a market cap of $1.12 billion, a PE ratio of -7.10 and a beta of 1.83.

MaxLinear (NYSE:MXL) last issued its earnings results 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). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The company had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s quarterly revenue was down 50.0% compared to the same quarter last year. Analysts expect that MaxLinear, Inc. will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Kishore Seendripu acquired 108,303 shares of MaxLinear stock in a transaction that occurred on Tuesday, July 30th. The stock was 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 owns 531,937 shares in the company, valued at $6,883,264.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 8.60% of the company’s stock.

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.