JPMorgan Chase & Co. Raises Position in MaxLinear, Inc. (NASDAQ:MXL)

JPMorgan Chase & Co. grew its holdings in shares of MaxLinear, Inc. (NASDAQ:MXL) by 44.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 935,739 shares of the semiconductor company’s stock after acquiring an additional 288,607 shares during the period. JPMorgan Chase & Co. owned about 1.11% of MaxLinear worth $13,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Truvestments Capital LLC bought a new position in shares of MaxLinear in the third quarter worth approximately $42,000. GAMMA Investing LLC lifted its stake in shares of MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 2,093 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of MaxLinear during the 2nd quarter valued at $56,000. CWM LLC boosted its holdings in MaxLinear by 321.3% in the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after buying an additional 4,418 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in MaxLinear by 20.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after buying an additional 1,308 shares in the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

MaxLinear Stock Performance

NASDAQ MXL opened at $20.63 on Friday. The business’s 50 day moving average price is $17.73 and its 200-day moving average price is $16.34. MaxLinear, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The company has a market cap of $1.74 billion, a P/E ratio of -7.58 and a beta of 1.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Benchmark boosted their price objective on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Craig Hallum lowered their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock 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 report on Tuesday, October 1st. 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 price objective on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, MaxLinear currently has a consensus rating of “Hold” and a consensus price target of $23.50.

Insider Buying and Selling

In other news, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.35, for a total value of $651,200.00. Following the transaction, the insider now directly owns 365,868 shares in the company, valued at approximately $7,445,413.80. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. This represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,900 shares of company stock valued at $927,278 in the last ninety days. 8.60% of the stock is owned by company insiders.

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.