Algert Global LLC Cuts Holdings in MaxLinear, Inc. (NASDAQ:MXL)

Algert Global LLC cut its stake in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 39.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 113,994 shares of the semiconductor company's stock after selling 73,706 shares during the period. Algert Global LLC owned approximately 0.14% of MaxLinear worth $1,651,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in MaxLinear by 5.8% during the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company's stock worth $228,779,000 after purchasing an additional 667,550 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of MaxLinear during the 3rd quarter worth approximately $16,696,000. Millennium Management LLC lifted its holdings in shares of MaxLinear by 307.9% in the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company's stock valued at $21,039,000 after buying an additional 788,558 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of MaxLinear in the third quarter valued at approximately $833,000. Finally, Comerica Bank grew its holdings in MaxLinear by 472.6% during the first quarter. Comerica Bank now owns 194,405 shares of the semiconductor company's stock worth $3,630,000 after acquiring an additional 160,456 shares during the period. 90.79% of the stock is owned by institutional investors and hedge funds.

MaxLinear Price Performance

Shares of MaxLinear stock traded down $0.39 during trading on Thursday, hitting $14.55. 838,953 shares of the company were exchanged, compared to its average volume of 999,552. MaxLinear, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $14.45 and a 200 day moving average price of $16.15. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.35 and a beta of 1.85.

MaxLinear (NASDAQ:MXL - Get Free Report) last released its quarterly earnings results 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 company had revenue of $81.10 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) earnings per share. On average, equities analysts expect that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other news, VP William Torgerson sold 6,100 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the sale, the vice president now owns 179,262 shares in the company, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value 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 approximately $1,070,853.12. This represents a 7.68 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MXL shares. Benchmark reissued a "buy" rating and issued a $22.00 target price on shares of MaxLinear in a report on Thursday, October 24th. Susquehanna downgraded shares of MaxLinear from a "positive" rating to a "neutral" rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of MaxLinear in a report on Thursday, October 24th. Craig Hallum decreased their price target on MaxLinear from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company initiated coverage on MaxLinear in a report on Friday, November 22nd. They issued an "equal weight" rating and a $14.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, MaxLinear presently has an average rating of "Hold" and a consensus target price of $22.29.

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.