AQR Capital Management LLC Invests $870,000 in MaxLinear, Inc. (NYSE:MXL)

AQR Capital Management LLC acquired a new position in MaxLinear, Inc. (NYSE:MXL) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 43,192 shares of the semiconductor company’s stock, valued at approximately $870,000. AQR Capital Management LLC owned about 0.05% of MaxLinear at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MXL. Headlands Technologies LLC purchased a new position in shares of MaxLinear in the 1st quarter worth about $27,000. Innealta Capital LLC bought a new stake in MaxLinear in the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC purchased a new stake in MaxLinear in the second quarter worth approximately $31,000. Canada Pension Plan Investment Board purchased a new stake in MaxLinear in the second quarter worth approximately $56,000. Finally, EntryPoint Capital LLC bought a new position in MaxLinear during the first quarter valued at approximately $59,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Trading Up 6.1 %

MXL opened at $14.24 on Friday. The stock has a market cap of $1.18 billion, a PE ratio of -7.53 and a beta of 1.83. The business has a 50 day moving average of $13.33 and a 200-day moving average of $17.52. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59. 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 (NYSE:MXL) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The business had revenue of $92.00 million for the quarter, compared to the consensus estimate of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The business’s quarterly revenue was down 50.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. Equities research analysts predict that MaxLinear, Inc. will post -1.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MXL has been the subject of a number of recent research reports. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Benchmark cut their price target on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Craig Hallum decreased their price objective on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Northland Securities dropped their target price on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Finally, Stifel Nicolaus raised their price target on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, MaxLinear presently has an average rating of “Hold” and a consensus price target of $23.44.

Insiders Place Their Bets

In other MaxLinear news, CEO Kishore Seendripu bought 108,303 shares of the stock in a transaction dated Tuesday, July 30th. The stock was purchased at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the acquisition, the chief executive officer now owns 531,937 shares of the company’s stock, valued at approximately $6,883,264.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.60% of the company’s stock.

MaxLinear Company 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.