MaxLinear, Inc. (NASDAQ:MXL) Stake Lifted by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of MaxLinear, Inc. (NASDAQ:MXL) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 225,145 shares of the semiconductor company’s stock after purchasing an additional 6,385 shares during the period. Rhumbline Advisers owned approximately 0.27% of MaxLinear worth $4,453,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MXL. Vaughan Nelson Investment Management L.P. lifted its position in MaxLinear by 10.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company’s stock worth $25,098,000 after buying an additional 115,867 shares in the last quarter. R Squared Ltd acquired a new position in MaxLinear in the 4th quarter valued at $45,000. Pacer Advisors Inc. grew its stake in MaxLinear by 29.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 443 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in MaxLinear by 339.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock valued at $24,740,000 after buying an additional 966,468 shares during the last quarter. Finally, Weybosset Research & Management LLC grew its position in MaxLinear by 34.1% in the 4th quarter. Weybosset Research & Management LLC now owns 92,731 shares of the semiconductor company’s stock worth $1,834,000 after purchasing an additional 23,576 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

MXL has been the subject of a number of analyst reports. Northland Securities raised their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. Wells Fargo & Company lifted their price target on shares of MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Susquehanna decreased their price objective on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, Benchmark reaffirmed a “buy” rating and issued a $28.00 price target on shares of MaxLinear in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.50.

Insider Activity at MaxLinear

In related 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 transaction of $651,200.00. Following the completion of the sale, the insider now owns 365,868 shares of the company’s stock, valued at $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 available through the SEC website. Also, insider Connie H. Kwong sold 5,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total transaction of $93,050.00. Following the completion of the transaction, the insider now directly owns 49,147 shares of the company’s stock, valued at $914,625.67. This trade represents a 9.23 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.

MaxLinear Price Performance

NASDAQ:MXL opened at $14.61 on Friday. MaxLinear, Inc. has a one year low of $11.08 and a one year high of $26.59. The company has a market cap of $1.24 billion, a P/E ratio of -4.99 and a beta of 1.77. The firm’s fifty day moving average price is $19.33 and its two-hundred day moving average price is $16.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. Equities analysts expect that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

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.