Geode Capital Management LLC Purchases 6,420 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Geode Capital Management LLC boosted its position in MaxLinear, Inc. (NASDAQ:MXL) by 0.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,805,722 shares of the semiconductor company’s stock after buying an additional 6,420 shares during the quarter. Geode Capital Management LLC owned approximately 2.14% of MaxLinear worth $26,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of MaxLinear by 5,114.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company’s stock valued at $1,837,000 after buying an additional 124,430 shares in the last quarter. Quantbot Technologies LP raised its holdings in MaxLinear by 111.7% during the 3rd quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock valued at $961,000 after acquiring an additional 35,018 shares during the period. Two Sigma Advisers LP lifted its position in shares of MaxLinear by 21.8% during the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock worth $10,051,000 after acquiring an additional 124,300 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of MaxLinear in the third quarter worth $16,696,000. Finally, Mirabella Financial Services LLP purchased a new position in shares of MaxLinear in the third quarter valued at $551,000. 90.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

MaxLinear Trading Down 2.4 %

Shares of MaxLinear stock opened at $20.50 on Friday. 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 1 year low of $11.08 and a 1 year high of $26.59. The firm has a market cap of $1.73 billion, a PE ratio of -7.54 and a beta of 1.87. The company has a 50 day simple moving average of $16.47 and a two-hundred day simple moving average of $16.25.

MaxLinear (NASDAQ:MXL) last posted 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 company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The business’s revenue was down 40.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) earnings per share. Analysts expect that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

Insider Transactions at MaxLinear

In other MaxLinear news, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $93,940.00. Following the transaction, the vice president now directly owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ted L. Tewksbury III sold 5,800 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the sale, the director now directly owns 69,717 shares of the company’s stock, valued at $1,070,853.12. This trade represents a 7.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 48,900 shares of company stock worth $927,278. 8.60% of the stock is currently owned by corporate 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.